St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1879-08-22
The Beukers7 Convention.

Haarv l.. Lamb, the acting superin-
tendent Of the New York State bank
department, il NermOnter that has
been steadily winning an enviable repu-
tatiOn for himself in the Empire state.
The New York Tribune, in its report of
the proceedings of Friday says: Henry
l.. Lamb, acting superintendent of the
bank department or this state, read a
paper on savings banks. He read it in
an impressive and interesting way, aud
the merit of the paper, with the forcible
manner of its presentation, caused
brief abstract:
Savings banks are primarily humane
institutions for helping men and women
materially on in the world. Out of the
reflection of political economists out of
the hmmanities OF the religion of pious
teachers; cut of the ripe experience,
sagacity and fraternal spirit of London
magistrate; ont of the rational zeal of
the citizens of Boston and of New York
to help humble folk to check pauperism
and its train of evils, with attendant
public and private expenses, the idea
of our savings banks sprung directly.
The savings institution is wholly
different from the discount bank in
motive and aim. The savings bank
receives money chiefly to keep it Sc
curely for the benefit of the depOsitors.
Why should any man become the man
ager of a savings bank / have been
asked this question often. The trustees
cannot be paid, why should a man do
anything that will not pay him ? No
man with capital can turn deaf ear to
the promise to save that capital from
the moth and rust of taxation. You
know that, now. A host of savings bank
depOsitOrs is a better class of citizens
than army tramps. The self-sustaining
person who is self-respecting, too, is a
safer neighbOr than the vicious drone
or the indolent beggar. The savings
bank is not a pauperizing charity, but
is school, teaching the sound lessons
OF self-denial, of economy and of sober
industry. The ordinary bank performs
some service for such as need it in Ousi-
ness, and justly is paid for such service.
The aim of the bank is profit and gain
npon the capital which is employed i'm
the work. The savings institution
seeks to serve those who are not fitted
by knowledge and habit for safely
keeping and investing their money
when saved. The savings institution
does not hoard money. Some men OBJ
Ject to the savings bank because it |
wlthhOlds money from circulation. This
is an obvious fallacy. if the depositors
iii such Institutions were to save an
amount of money as large as they de-
post great part of it would be board
ed. All who have acquaintance with
savings banks know this. If panic
comes upon the depositors in one insti-
tuition or in several, and money is
drawn in large sums, much of it is
boarded and much of it is squandered.
The savings bank is one of the best
safeguards of property. Trustee ser
vice is more agreeable than jury duty
Personal attention is a savings bank
is more economical than constables,
police, pOor-masters, hospitals or pri-
sons. 1t is sure that three-fourths of a
million of depOsitors in savings banks
in this imperial state are arrayed as a
solid phalanx against Communism, ri
citing and disorder. The facts are too
significant to be disregarded by intelli-
gent men. Ireland, Germany and Rus
sia to-day should admonish the Ameri-
can citizen who has property and is a
leader in business and politics, that Sc
curity and progress will be found in
the diffusion of property among the
great body of the people by training
them to its acquisition and mainte-
nance. The savings bank is fortress
which resists the dangerous classes.