New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-04-16

of blood and retribution. What, then, can the
Government do 1t cannot stand Idle when the
foundations of the State are being rapidly
undermined. 1t can only go on in the dark
and gloomy path of repression.
THE OUTLOOK FOR THE SAYINGS BANhH'
The savings bank system of this State is IA vast
interest. Nearly 100000 persons have money on
deposit in these Institutions and the number OF per-
SOM directly interested in their stability Is neces-
sarily much larger the trustees alone woul1 make
small army theirnumber probably exceeding2,O0o;
and the total of deposits is $3.50, 100000. The
prosperity of this system concerns the prosperity
of the whole State, and it Is gratifying, therefore,
To find that the report of Slr. Lamb. who Is "a
frank Superintendent well faithful ono, takes
n most hopeful view of the situation. 1t Is true
that the statistics show falling off in the number
of depostors and the aggregate of deposits and
that the decline in both Is chiefly III tho City of
Ncw-York. where we have had so many failures
among the savings banks and the very small cap
itallsta who are the most timid of all that timld
class have been frightened somewhat. But all the
facts 90 to show that the savings bank system is
reaching a solid basis. Much of the falling off in
business was due to the closing of SIX banks in
different parts of the State. No new
bank has been organized during the year
the wicked trade of forming wildcat
savings banks has come TO an end The banks
which have survived the storm are stronger than
before and show an actual increase in the number
of depos,ors during the past year. This is sure
sign that the public faith in these institutions.
which NAV almost be said to exercise strong
moral influence at the same time that they perform
business furcton, is, on the whole, uDdmlnished,
and that they may look forward to era of genu-
| Inc prosperity.
Mr. Lambs report will be useful in correcting
the common notion that savings bank depositors
have suffered more than any other class in the
community since the panic. The fact is, as he
shows that the percentage Of loss Is less in these
institutions, on the average, than in any other
moneyed generations. The twenty-nine savings
banks which have failed in the past eight years
have nevertheless paid their deposiors, in spite of
the runous expenses of recevershps, 90 per cent OF
their money. The whole loss for the last five years,
being the years since the panic, does not reach by
Mr. Lambs estimate, 2 per cent of the aggregate
deposits When the vast losses by depreciation of
stocks and property Of all kinds, and by financial
reverses. are remembered, il must be admitted that
the record of the savings banks is remark
able in spite of the twenty-nine failures
and the gross wrongs which some Of them disclosed.
The shareholders in National banks in this city
have had to submit to loss In the last three years
more than three times great that of the savings
bank depOsitOrs in the last eight years the former
class losing in the time named one-quarter of their
capital Another fact is commonly overlooked
in making up the balance sheet between
the savings institutions and their depOsi-
tors. 1t is that the appreciation in the
value of the deposits is represented by
a vastly greater figure than that of the losses in
flicted by failure BY broken banks depositors
have lost in eight years in this State S5,4OO,00O,
but the deposits in the solvent banks have risen in
gold value %t0,00O,000 in four years. The same
amount of money, as the report shows, invested
in any Government bonds bat currency
SKIES would have been worth $3S,00O00O
less in currency to-day than four years ago; and
the difference in favor of the savings bank deposi
tors, as compared with owners of bank stock, would
have been SG2 800, coo. The few have suffered by
the evils which crcpt into the savings bank system
in the Ring DAYS the many have reaped great
advantage from the firm stability Of these nstltu-
tons.
That they are still not always managed with entire
wisdom is evident from the Acting superintendent
efforts to reduce their living expenses. In some
cases. they are actually extrayagant, and extrava-
glnce in a savings bank Is a sorry contradiction.
What Mr. Lamb has been able to accomplish in this
direction alone is an excellent argument for the
tnuauoe of that supervision by the State which
some legislators at Albany have rashy proposed to
abolish MI Lambs statement of what he has been
able to do for the protection of depostOrs is mod
estly made, and deserves notice, not only because
il shows the necessity of Bank Department, but
because the facts themselves the best possible
eulogium upon a conscientious and capable Bank
Superintendent In the last year and half
he has forced thirty-four unfaithful or in
competent trustees TO resign; i'll forty in
stances, he has compelled boards of trustees to
abandon dangerous and Illegal practices; and he
has required trustees to make good losses resulting
from their violations of law. and amounting to
S32, 600 If the question were left to the deposit
tors there would be an overwhelming majority for
tho continuance of the Bank Department.
PROTECT TIE MILK.
The daily consumption of milk III New-York City
tnnn M.