Savannah morning news. [volume] (Savannah) 1868-1887, 1885-06-21
The Benefits of Savings Banks.

The Benefits of Savings Banks.
tits stated that in the town OF Dalton,
in this State. man who is a wood-sawyer
BY occupation, has saved from his earn
ings, within the last eight years, $500.
1t does not appear that he is a miser, or
that he denies himself anything that is
necessary for his comfort and happiness.
/ This wOod-sawyer viii probably have a
/ competency by the time that he is inca
pacitated by age for constant work. In
fact, If he has reasonably good luck, be
VIII have sufficient 70 provide for his
simple wants before he reaches old age.
There are thousands Of poor men and
women in the State Of Georgia who are
able to save something from their earn
ings every year. All that is necessary to
induce them 10 endeavor TO attempt to
accumulate a little property is the right
sort OF encouragement.
1t may be asked what sort OF encOur-
agement is necessary? The answer is
economically and honestly managed saw
ings banks. If there should be savings
banks established in the chief towns of
the State, with agents at the county
seats OF the different counties, it
would not be many years before
there would be millions Of dollars
in their vaults. There is a fact in this
connection that must not be lost sight Of.
1t is that four-ffths Of the counties are
now under temperance influences, and
that the temptations and opportunities
presented to the laboring class of people
for wasting their earnings are not as
great as they were. Much of what went
for whisky would now 20 into savings
banks if such banks were close at hand.
There may be some who would doubt
that savings banks would serve any good
purpose. II such there are they have not
given the matter the consideration it de-
serves.
Savings banks would do good in at least
two ways. They would improve the con-
dition Of the people and they would help
to build up the State. People as they &C
cumulate property improve, as a rule, In
every way. They become more thrifty,
take more pride in their surround
ings, and are more careful in
training their children. The knowledge
that they have bank account,
or are the owners Of houses, or lands, or
cattle, or any other kind of property in
creases their self-respect and encourages
them to cultivate the virtues which bring
happiness and prosperity. Savings banks
would benefit the State, because they
would make possible great enterprises
that require large amounts of money.
The dimes and dollars that would be
wasted without the savings banks
would be made power with their aid.
Georgia would not then have to hunt
purchasers for her bonds in New York,
or go there for the capital to build her
railroads and factories and to open her
mines. In fact, her farmers, instead of
paying to the money sharks OF the North
a ruinOus rate OF interest on loans, would
be able TO get money at a rate that would
give them a chance to get out of debt.
The people once inspired with the desire
to acquire property would create wealth
much more rapidly than they now do, and
the advance of the State in those things
which make a State great would be as
marked as the improved condition of the
/ people.
If there be any doubt about the benefits
that flow from savings banks, or about
the power they exert, it is only necessary
to study the history Of the savings banks
of New York and the New England States
to have the doubt removed.
Those who help establish a system Of saw
ings banks in the South. and help to bring
about the enactment of such laws as will
give depOsitors every possible protection,
will earn the SOuth's gratitude.