The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-12-12
SAVINGS or ECONOMISTS.
Riches Accumulated by Self-Denying
People with Small Incomes.
Common LabOrers and Servants in Indanap-
oils Who Have Saved Thousands of Dol
lars from Their Little Earnings.

fruQaltY comfort.
1t is not the saving on average and high salaries
that exempify this virtue at its best. Men com
plain that they cannot save because the neces-
saries of life exact every cent of what they earn
but small deposits i'll banks, small sums out on
loans, moderate investment in ali classes of good
securities, and largely the building associations.
show the result of economies that would try the
souls of most people. When one seeks for dis
tressing phases of bank faiiures-those that ex-
cite popular sympathy for the losses sustained
be does not find them in the class to which large
balances are due. Hard work at rneacre nav.
self-denial and living on necessaries reduced to
the lowest limit, bring small accumuations that
seem equal to the richest treasures to the own
ers. When these are swept awav the end.
they think has come. It is as keen as a death
pang, for it is not SO much value that is gone as
years of industry, pinching off the bits of mar
row incomes that might have secured greater
present comfort The people who save are not
generally those of buoyant spirit or varied re-
sources When money loss falls on them,
retrieving of it does not mean the waiting of OBJ
portunity, but another long series of years full
of small economies. It is the stern fact of their
lives, if in old age, when the power of work is
gone, they expect to keep out of the poor-houses.
The man whose genius for speculation or trade
enables him to recover in a short time financial
disaster afford to bear his misfortune with
something of an equable temper, but his oppo-
site, the frugal laborer, industrious mechanic
and faithful servant, are limited to one wav to
possession, no matter how small-that of rigid
economy. A bank account, house and lot few
bonds, ready money or shares in building asso-
Citations are the prizes they haYe won through
toll and severity.
The recent payment of dividend on the de-
posits of bank in assignment gave an insight
into the savings of the small economist The
amounts paid on certificates varied from 81. 80 to
$50, and In the aggregate the number of deposit
tors nearly reached two thousand Building as
sociatons show the individual holding of shares
anywhere from one to ten, but the average is
four or five, which means homes for the owners
for the average holder rarely invests in this man
ner with any other expectation. The tax lists
contain the names of hundreds of real estate
owners who got their little property through
this means or small annual savings. One of the
many remarkable incidents of frugal living is
that of woman servant in a family Oh Della
ware street She has worked twenty-seven
years with no greater wages than two dollars per
week. Little by little she put away
quarters, halves and dollars until
she had n sum sufficient for investment. Her
wish known, Of course the opportunity was not
long in appearing. After considering several
means or utilizing her money. it finally went
into farm of 100 acres. She has from this an
income of 5000 per year, which is only increased
by her servants wages of $l04 annually. Out
of this she puts aside certain sum for charity,
every organization Of that kind in the city com
ing in for share.
"The economical Irishman," said gentleman,
in talk on small economies, lis not rarity
While the people of his race are inclined to make
the most ont of life as 1t passes they furnish in
stance after instance of what many of them
have done ptiful incomes. The Germans are
better economists, as rule, but |
know an lrishman who is equal in fru-
gality to the best of them He is q section
hand on the Madison branch of tie Jeff road
He never got So 90 day for his work, but in the
course of years he has saved enough with which
to purchase Madison city bonds. He has $40 900
Invested in those securities, but they not all.
Several pieces of real estate belong to him. l
would like to see any German beat that. There
S another example: Years ago an Irish black.
emiths helper came to this city without cent
knowing where he would get place to sleep
Luck favored him in ready employment. He
was Industrious working early and late. In
time he owned shop, and over it he arranged
living quarters for himself and family. When
he purchased the place he had to mortgage it to
the seller to secure the greater part of the pay
ments. Within few years he had this obliga-
ton cut down to $780, and it worried him
mortgage did. He said to me,
day: IF l only had that $500, l would
be happy man. All care about having is my
little property. l can work for what we need.
don't want to be rich. The $500 was earned.
The little property has been sod but its former
possessor owns many valuable pieces Of real
estate ae has quit blacksmitnlng, and has be-
come contractor"
"Can you get me any 4-per cent city bondsF'
asked kitchen maid other employer. The maid
had no income beyond the So week he paid her
and the request was in the nature of surprise.
-Four per cents. Mary2 Why, yes if you
want them" That day the gentleman made in
duries. 1t was when the county treasurer was
floating the last Issue of city securities of that
class. He told his servant in the evening that
he could get her $40O or $500 "But want more
than that" she somewhat testify replied.
How much, then? did not think you had
so much money"
II have saved 81, 545. and you owe me S.. That
will make $3.50 l want bonds to that amount"
She got them
By years of hard work cook saved S., 900 or
Sc, 000 1t was lost in a bank failure, but he
held, besides, considerable real estate. He went
to saving again. aud now has SO, coo or 81, 900 in
personality again. Years ago man of wealth
and partner in one of the leading iron stores of
the city began his way upward as porter. He
made his $6 per week do great service The
savings were small, but now, at the end of
twenty-five years, no is worth over $4,000.
There are draymen who have accumulated prop
efty from the small beginnings of their labor.
The horse and dray in time was increased by
another, and so until, in two or three in
stances, the small proprietors became employers.
They hold contracts for hauling the goods of mer-
camille houses which assures them steady in
come aud profit No class of humble work IS
without its incidents of what the frugal can do.