, 1877-09-02

creating Board Of Examiners for uprootinc
just such frauds as he! Was he not aware at
that t1n1c of the inevitable results Of his bad
management! And yet he drove to tho bitter
ena' With the ruin OF many desolate home
stareng him fn tho face and is to-day allowed to
breath Gods free air.
But what will be the final results? The hard
Torkcrs-those wAo are SO fortunate as to hare
have worked for years, laying up few cents
each day. only Tor repetition Of what has just
happened u. D. Spencer. will be allowed to
ENJOY t!(aoroad the fruits Of his hard labor for
1e" years, spending dollars in minutes that
were earned in days, when he will return and
settle down among, and gain the confidence OF,
the same class OF people who to-day are subsist-
ing on only the crumbs which bis generosity has
seen tit to leave for them.
Smith, the fool and cat's-paw. will nrobah]y hA
allowed to exist among men lust as a fool
should be allowed to exist; for to raise hand
against the V1ca-Presideut OF bank VINO knew
nothing that was going On in the institution,
OF God.
But neither depositor or banker should let
lhls opportunity pass without thoroughly learn
ing tie lesson 1t teaches. Let the banker under
STAND That he handles the money Of his deposit
OTIS only IN trust, and, as trustee, should use
Inc utmost precautlon, never allowing penny
10 pass over his counter without uudoubtcd and
unqucstfonabie security; and again, that with
Tue existing strinsency Of the money market,
Of interest.
Let the depositors learn that while they live
by manual labor the thIef lives By his wits, 2ud
that oily-tonsued lechcrs should not be
trusted With their harl-carncd wages, un-
watched; and, if the officers of their
banks ever oppose legislative bill calling
Tor an examination into their accounts, their
first duty will be to hang them, and aftcrward
70 examine tile accounts themselves. II such
frauds cannot DC stopped by legislation, they
Hff v Rf1
jure humane.
1t is not supposed that, as class, the labor
crs, who constitute greater portion Of savings
bank deposlt0rs arc shrcwd, and are oltcnti,ncs
quite the reverse. Should they not, therefore,
he protected by, shrewd men, who are honest,
from such human sharks as d. D. Spencer ct al!
Should not those who have but small INCOME
aud necessarily stnal savings, be protected by
those having enough aud TO SPARE. Weekly
s; savings cannot ann; be be Kept At homie, neither eau
been too sorely proven, eau they be intrustcd to
savings-banks, unless some means arc taken to
ohviate their rotten management. and to secure
honest men--nlcn who alfcady have enough for
themselves. and who are willing 70 sacrifice
little time and money for The benefit Of the ess
fortunate-for their managers.
Would it not be we'll, then, for such men as
John Wentworth, ]. Irving Pcarce, L. Z.
Letter, and George NJ Pullman to
basis, to be managed under @ the direct SUPER super-
vision Of these men, running the same purely |
In the interest OF small depositors and the
working classes generally. making each de-
posiror a stoukl,older after SO much has been
deposited. and thc1ebr glring to each the ben
etits OF the interest the loan Of their money.
AS a humane act, venture to sag this could
hardly be surpassed, and would be we'll worth
the undertaking. l hope, too, that this will
not stop here, but take some tangible form.
Let us hear other opinions On the subject.
HUEE