River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1878-01-17
SAVINGS BANKS.

government.
SAVINGS BANKS.
Economy and industry are reciprocal virtues
so that one cannot thrive unless accompanied
by the other. Savings banks, conveniently
located, and honestly and efficiently managed,
have hitherto been most powerful agents to
engender habits of thrift affording, as they do,
reasonable assurance Of safety for deposits,
and moderate income tnerefrom. Such in
stitutioiIs cannot, howeyer, be made self-sup-
porting except in the cities and larger vii
lagos, and, therefore, a large proportion of our
people are denied the benefits to be derived
therefrom The disastrous failures among
savings banks in some of our sister states,
during the past year, have furnished
too convincing evidence that they are not al
ways managed with that care and honesty
without which they are not entitled to con
fidence.
| am, therefore, inclined to look with favor
upon the proposition to organize postal saw
ings banks, and in connection Herewith to
issue series of United States bonds of such
denominations and with such provision for
distribution and redemption that people of
limited means may, if they desire, invest their
surplus earnings in government securities. 1t
is impossible to overestimate the value of a
system which shall furnish to all citizens con-
yenient opportunity to deposit even small saw
ings with assurance Of absolute safety and
some Independent of the incidental
advantage of distributing a further portion of
our public Indebtedness among our people.
PRESIDENTIAL ELECTIONS.
Dnring the year just closed, republican in
situations and the permanency ofour govern
ment Were subjected To new and unexpected
trials. For the first time in our history, the
question as to who was legally elected Presi-
dent was left in great uncertainty. The politi-
cal campaign had been one of unexampled
activity and enthusiasm, and it should occasion
no surprise that men formed opinions and
The experiences of other nations under some
what similar circumstances were well calcu-
lated to inspire grave concern in the minds OF
all rejecting men. 1t was, therefore, not with
out reason that the action of Congress in or
ganiZing the Electoral Commission was hailed
by the great majority of the patriotic citizens
as a benefcent deliverance from great peril.
They felt that it was vastly important that
some settlement should be had under the forms
of law, which all good citizens could accept
and recognize as conclusive. A decision was
rendered and it became the duty of every citi-
zen to accept it and abide thereby Any at
tempt, therefore, to throw discrcdit upon the
decision made or impugn the motives or in!
tegrity of any of the eminent gentlemen COM
posing that tribunal tends to weaken the pub
JIG respect for law, and should be unreseryedly
discOuntenanced.
possibility of recurrence of circumstances
similar to those which necessitated the APP
pointment of the Electoral Commission, and
doubt not you will agree with me in the ex-
preston of the opinion that it is the impera-
tive duty of Congress to provide such methods
of procedure for conducting future PRESIDENT
al elections as will allow the will of the people
to be both freely and fairly expressed at the
ballot box, and, as thus expressed, ascertained
with certainty and without suspicion of fear,
favor, or hope of reward.
CONCLUSION.
| should be doing myself injustice to close
this communication without an expression OF
my earnest conviction that the President OF
the United States, with the purest aud highest
motives, Is striving to execute the highest
trusts committed to him in the interests OF the
whole people, and that in the efforts he has
made for the paeifcation of the south, the cor
rection ofabuses in the civil service and return
to a stable currency he is peculiarly entitled
to the generous and discriminating confidence
of his fellow citizens.
Yielding to no man in devotion to the party
of my choice, I nevertheless most heartily
subscribe to the maxim that he serves his
party best who serves his country best
Guided by the spirit of this maxim, which is
only less applicable in state than in national
affairs, your labor here, as legislators, cannot
be otherwise than pleasant to yourselves and
satisfactory to your constituents. Guided by
it, my constant purpose will be to cooperate
with you to advance and protect all the varied
interests of Wisconsin and her people.
WILLIAM Z, SMITH.
Madison January 10 1878