Richland beacon. [volume] (Rayville, La.) 1869-1890, 1876-10-21
OUR WASHINGTON LETTER.
WASHINGTON, D. c., ,
October 9, 1876. J
INDIANA AND OHIO.

INDIANA AND OHIO.
The elections 10 FIVE States which
come off tomorrow. especially those
in Indiana and Ohio naturally absorb
public attention here. As they will
have come off before this letter reach
es you, it will be little use to attemp,
10 predict the result We have q
sure thing without the vote Of those
two Western States. We shall start
with the vote Of q solid South, except
that of the State Of South Carolina.
That will gives US l3l votes so ,ha,
We shall need only "a more votes in
oil the Northern States TO elect SAM
uel j. Tilden the next President Of
the United S:ates. New York, Mr..
Tilden's own State. will certainly
give her 35 votes and more than the
additional 10 votes will not fail TO
come from the Pacific States, and from
those good old Democratic States,
Connecticut and New jersey. There
will certainly he found in all the
Northern States enough of tho States
Rights spirit of the old-time Demo.
cratic parry to make up the "a votes
to elect the Reform candidate and
champion of the South.
RoBBiNG THE POOR
should no longer be legslized in any
State in the Union. The failure Of
the Abingdon Square Savings Bank,
in New York. last week. furnishes an
other case If the insecurity of the these
repositories for the hard earnings of
the poorer classes. As general
thing, Savings Banks are managed
with less responsibility than sny 9th
or banks, for tie reason that the in
Individual deposits are usually snail.
and distributed among q large nun'bsr
of persons who have little, if any op-
portunity of watching how their mon-
ey is managed. and. a. 10 generally the
case, two or three men have control ;
and, as failures invariably show, they
use these funds without any restraint.
and in speculstions which no properly
managed bank would think Of invest
ng. Recent failures of Savings Banks
are traceable to wild Investments in
real estate, and as this class Of secu-
rity has deprecated within the las,
four years more than any other, in
some cases as much rs forty per cent
of course no bank with its money
loaned on such collattersls can stand
anything like . run Of it's depositors
aud, when it does take place, disasters
follow. That there are exceptions c'
Savings Banks conducted on safe
bon-st principles must he admitted
but the men who manage them gener
ally risk large sums Of their own
money in :hem, and in this way are
careful in finding the right kind o.
investments. Savings Banks conduct
ed on such principles never pay ex
travagant rates Of interest. High
rates Of interest, whether promised ol
exacted, lead 10 trouble. and are al
argument, as old as industry, to prov,
that money employed other than il
legitimate production is attended by
innumerabl- risks. and is bound, soon
er or later, 10 cone 10 grief Tb'
remedy for the losses is not altogether
in improving the management Of these
repositories for under the very bes
system. losses will happen, and wbet
they do, with small depos:tors th'
suffering is always of the bar les
character. There is, however, plal
Of safety by which no poor depOsito
would ever run any risk, and tb,
germ OF it is in our national debt.
about one-tbird Of our bonded deb
was cut up into multiples of twenty
FIVE dollars, and the time extended I,
6fty years there would be more tha
enough to absorb all the saving
banks deposits in the country, at
rate of not more than one cent da
interest on o hundred dollars. Besid
the safety of such Investments, To
government would save the differeuc
in interest between what it now pay
aud would then pay and. best of a
the money so Invested would neve
,, be used except for safe purposes b'
cause each depositor would be hi
. own custodian.
, IMPORTANT DECISION OF L. s. sUPREM
; COURT JUDGE
Judge Clifford, of the United State
t Supreme Court, made decision viii
:, presiding in the United States Circu
: Court for Maine, q few days sine,
Z that is exciting . good deal of discu
t sion in Washington pro and co
, among members of the bar. Juds
Clifford is one Of the survivors Of ii
D old Supreme Cour, He was appoin
5 ed to the Supreme Bench by Preside1
J. Buchanan in 1853. and is one Of Il
5 oldest members Of that tribunal. h
J. is learned lawyer and conscientioi
J. and incorrup,ible jurist. The plain
o tiff in the case WAS citizen of Loui
q lana, and the defendant WAS Gener
9 Neal Dow, Of Maine During Il
o war, the regiment which be comman
II ed (tbe Thirteenth Maine VOlun'eer
. maid q raid upon the plaintiffs sug
IS house, and appropriated The conten
It to the use of the army. The own
o made complaint to General Dow, wi
q told him if be co1ld prove that be W
r. loyal man, be (Dow) would give hi
. receipt for the sugar, and in d
n time, the United States Governme
would pay him The proof of loyal
never was produced; and General DE-