The New York herald., 1879-08-09
Banking. read an elaborate paper Savings

Banks" ~ T~-N- s-T@s7i
The savings banks in Europe, said he. includ-
ing both the Continent and Great Britain, probably
hold an aggregate deposit of S1555. 900 000 Those
In the United States hold deposits and surplus
which amount to ss35o0o,000. What does this enor-
nous sum or reserve capitals 400 DO, ,OOO-stand
fort What does it represent? What does it signify?
Various countries seem almost spontaneously to
have conceived the idea or the savings bank
helper OF men and women. Economically this
genesis is the distinctive feature and
Morally and socially the savings institution has be-
come beneheent auxiliary among the forces which
help men up to better conditions in their existence.
The most enlightened races of men only haye
the foresight. the thrift, the providence.
II my personal experience in dealing with savings
banks and the interests which centre in them has
others touching these institutions it the constant
need OF insisting that the purpose and true function
front in dealing with them. For that will fix every
bodys proper relations to the verable thing. Upon
these points l ask your attention:-
HELPING MEN AND WOMEN.
fiysf--The savings institution is founded TO help
men and women. ~ ~ G.Jess -
Some one has said they are meant "to help men to
help themselves" While Jeremy Bentham and
Nautilus enforced the benefits of providence and
saving in the interest of the great body Of the peo-
pie well of those who saved. about tho opening
of this century, our English clergyman and Scotch
minister. each in his own parish, set in operation
q plan for his parishioners saving money, which
embodies in substance. the fundamental principles
of the savings institution. Similar ideas also were
advanced Ut the same period by q London maQtGs
trate. Patrick Calquhoun who wrote upon the q,es-
ton of popular indigence and for its relief
early as 1906. In America in 1876 and 1917. the
needs and the claims of the poor awakened atten.
tion at Boston and New York. and thought was Inn
mediately directed toward the savings institution.
because It deemed most useful. The first saw
ings bank in the State OF New York seems to have
been the direct result of meeting of citizens at
the New York Hospital. on December l6, 1917,
to take into consideration the subject Of paupersm
A society was there organized for the prevention Of
pauperism committee was them appointed TO re-
xSnrt nn fhn on1s& =
The earnestness of the men who were members Of
this organization is proved in the passage Of an act
the incorporation of the Bank for Savings In each
Of the two years thereafter say1ngs bank~as iIss
corporated IL this State quote briefly from tAsss
preambles which preceded these acts of incorporas
ton. That Of the charter of the Bank for Savinas
in New York reads thus- tsS eoaa.a .LSr u
"whereas Society for Prevention Of Psupsrism
in the city OF New York have petoned the Legislature
for act of Incorporation for tho audsble purpose
Sy receiving and Investing in ssss
any Of the United or this State and IN no
other way, such small sums of money may saved
Minors servants others thereby aiording the two
f1re duty I'll aada6is
to ameorase the condition Of the poor and aboring
lss charters for saving; were granted by the Leg
have cited.
Second-The savings institution is not organized to
make money.
bank in motive and aim The savings bank receives
money chiefly to keep 1t securely for the benefit Of
the depositors The ordinary bank performs some
service for such need it in business and Justly is
paid for such service. There ought to be. there
fore, antagonism between the savings bank
and the bank II the savings bank is kept to its
original idea, should be- will encroach on
the domain Of the bank. and the latter will by no
means come in conflict with the savings bank It is
the reverse of the communistic notion recently
prevalent The savings institution aims at making
all men producers and savers. too. 1t offers the aid
80 ho okvA ttA 10
receive civ ;her small gains ana hold them securely
against that time when they may require tho
sttution eniarges the number Of Capital.
It's; it reduces the army of possible prodigalss
paupers and tramps. The communist is the enemy
of capital for he proposes to rob the man who has
money. The savings bank depcsitor is himself
owner Of money. He belongs to the conservatives
by the logical tendency Of his position. In this land.
where there is such room for growth. such demand
for money, such room for men of the right stamp.
the savings is an educator is the friend oS
capital Of order and stability. both political and so-
cial. Whoever earns and saves lengthens continu.
ously his for service. While the savings bank
Is not organized to make money, 1t is most profitable
in several ways-it accumulatcs money it inspires
and trains men to get money and to the wise use Of G
it for the support OF those who might otherwise
come poor it makes better men and families and
sources in money and adds to the means for ad.
vancement In material Improvement.
NOT HoARDERs OF MONEY.
Third-The savings institution does not hoard
money
Some men object to the savings bank because 10
withholds money from circulation. This is an OBJ
vious faacy. The savings bank invests its money.
Its managers in theory, intelligent men, come
peent to make Investments in solid securities
The genuine savings bank is and does NOT
encourage speculation, ballooning and failure with
disaster. It puts money into circulation and does
not withhold 1t. These little savings, when gath
cred into masses and discretey invested serve great
purposes. "a al
Fourth-why should any man become the msnagef
Of . savings bank! .,y
tees cannot be paid. Why should q man do anything
that will not pay him? host of savings bank de-
positors is better class Of citizens than are army
charity but is school. teaching the sound lessons
Of self-denial. OF economy and of sober industry.
There is no man who has capital who is acquiring
capital that has not, in fact, an interest in the
success of savings banks. though he may not
have a:. seen seen this or felt u. it; You. gentlemen:
taxes to maintain the schools. to watch
criminals. to punish the bad. Have not you. has
institutions. which are saving in many sensss3
Their great success will spare your own pockets,
profitable employ ment in this land and will breed
class OF people OF moderate means who will look
up in the world. and not down. Why should not
any man. every man indeed. who has the capacity
for the work. lend something of his time. something
Of his Judgment and knowledge to the people that
SAFEGUARDS OF PROPERTY
FVh-The savings bank is one or the best safe
guards OF property s., W.. A
Trustee service is more agreeable than jury duty.
Personal attention to savings bank Is more eco-
nomcal than constabes police. poormasters, hospi-
tails or prisons. Two years ago this month the
guestssn this place. away from home. were deeply
agated by the acts and threats of the rotous classes
in several States. In State the cost of their
lswless and destructive conduct more than
$4000.000. In our State $3.50 100 brayely
and wisely spent to hold the classes In check
One savings bank In city in the State reported that
it spent $3.50 for guarding its own Office and for
queng the railroad riot. II Is that the three
quarters of million OF depositors In savings banks
in this imperial State arrayed solid phalanx
against communism. rioting and disorder The
savings bank fortress which resists the danger
Gus classes. 1t is garrisoned by men who stand
equally for their affairs and fires their own
hearthstones. Who of you has not personal
interest In this army which Is perfectly loyal always.
and which Is not the consumer OF your goods but
is itself constant producer and saver as well .
guardian? a
have sketched roughly the ideal savings institu-
ton. The actual does not often reach the ideal.
But the real savings bank In our country has done
great good Il in practice the IDEAL;