The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1878-04-19
Why the Average Savings Bank
is n. @.


OF course, savings banks might be
made really safe, and there are undoubt-
edly savings banks now in the city which
are at least as trustworthy as govern
ment which repudiates an eighth of its
debts. Still the confidence whih people
put in the mere name of a savings bank
is as unreasonable and indefensiHe as the
confidence of the African in his feSch.
What did the majority Of the de9ositors
in the Sixpenny savings bank know OF
Mr.. Miles and the other officers OF the
bank What good reason had they to
believe that these men had honesty and
intelligence enough to make them fit to
be trusted with other peoples money ?
So long as people in this blind way will
trust their money to virtuslly unknown
men, need We be surprised that to be a
savings bank officer is penaps the most
profitable career of crime Ipon which an
enterprising malefactor can enter
The real foundation OF this belief in
savings banks is the theory that when
one irresponsible man taxes to himself
two or three other irresponsible men, and
they jointly call themselves bank off
GERS, they become ipso facto trustworthy.
The native African king believes that
if q lion drinks water over which fetch
man has cast 4 spell, the beast instantly
changes his nature and becomes gentle
and inoffensive. We, who pity the ig-
norance of the native kings, believe the
words savings bank exercise a magi-
cal influence upon men who call them
selves savings bank officers, and tha. they
are thus, made Incapable of stealing or Of
wasting in foolish speculations the funds
intrusted to them. No one in his sense
would think of rushing into the street
and asking the first stranger whom he
might meet to accept without security
the loan of few thousand dollars.
Even the depositors of the Sixpenny
savings bank would have thought them
selves fit to represents western constit-
uency in congress had they opened the
city directory at hazard and on noticing
the name of " William Miles had with
out any further knowledge of him,
gone to his house and begged him to take
their money and give them receipt for
it. The Sixpenny savings bank was
nothing more than partnership between
President Miles and few other men
equally unknown to the general
public; but hundreds of people who
would not have lent dollar to Mr., Miles
or his associates personally gladly brought
their money TO those gentlemen as soon
as they found them sitting at the receipt
of deposits in q bank building. OF course,
there IS but one explanation of this. The
public believes that men undergo a mi
raculous mortal transformation when
they become the managers of savings
banks, and that the bank fetch will
render it impossible for bank officers to
steal.
In like manner, we all know about the
real nature of savings banks. Year by
year we have seen them explode and
vanish, leaving fantastic mockery
known as receiver" behind them.
Cashiers and presidents in long and
uninterrupted succession have marched
toward the Canada border, or TO the
wharyes of transatlantic steamships,
carrying the assets of their banks with
them. Yet, knowing all these things, we
still cling to our belief in savings banks,
and cannot get rid of the delusion that it
is safe to lend money without any se>
curity, provided the borrowers occupy
a building over the door OF which is the
sign Savings Bank I'm. Y. Times.