Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1888-05-08
6avlnEs BANKS,
ToRr worth. TB1., May 4, 1855.

IORr WORTH, Tx, nay 4, 1850.
70 the Editor Of the Gazette.
There are three or four savings han1l
in Texas. There ought to be Hundred,
st lesst-one in every town haYlbg ss
much as 5000 population, and twoApl
more In the larger towns and cities, a6,
cording to sizs. A system OF postal
savings Institutions, operated oy the
government in connection with the peat
0ffi ZEE, would be very helpful to the PED
pie, and command absolute confidence,
but as there Is mot such system, Danks
where small deposits will be received
are the next best and only reliance OF the
masses, the poor people who wish to lay
by something for rainy day. 1t is In
structive to read how these Institutions
have stimulated and developed thrift and
| numerous. In the little state OF Rhode
Island, for example, with population OF
about 800, 600, the savings banks hold
deposits sggregating e52, o00.o0 or an
average OF S177 per czpita for every man,
woman and CHILD in the state. This vast
sum represents the savings Of poor
people, depositors whose deposits range
from ten cents to i've dollars week.
Without the facilities and encouragement
afforded by the savings institutions ct lesst
one half Of this $52 100000 would not be
saved at all. II would be squsndered
simply tor lack of encouragement to save
it, and OF the 826 900. 900 not squandered
q large per cent would be hoarded-our-
led in the ground or tied up In stock
ing feet-drawing not . cent Of interest,
absolutely non-productive-food for rust
and moths, temptation for thieves. Saw
ings institutions encourage the poor to
thrift. There are thousands Of indus
trious, honest men and women in Texas
who cannot AFFORD to lay by more ihan
nfty cents to dollar per week OF their
earnings. II requires moral courage to
walk up to the mahogany counter OF
national or other bank and ask the re.
ceiving teller to take 8 deposit of hslf
dollar. And even # the requisite cour-
sgs were displayed not one in ten OF the
banks would care to give attention
to such line of deposits.
Tho average bank would decline
to opsn an account with q depositor who
could not be relied on 10 psy more than
45 or 4l0 8 month. The Savings bank
meets this ificulsY. It takes any deposit
from . dime up. The depositor is en-
coursged to persevere. Almost insensf-
oily the habit of saving grows on him and
he aspires to the time wnen his account
will reach sum that will promote him to
tho dignity Of depositor at regular
bank, using the word Irregular" In con.
trad lstinction to the savings institution.
He acquires as his savings grow habits OF
economy. he ID made more conserva
tive and valuable cirzsn, just as the MAI
is who, being homeless, sets to work to
acquire his own home and haally
succeeds in doing 80. The individual
is benefited and the legitimate
business Interests are benefited bv having
noaeY that would otherwise be boarded
ana out of circulation In place where it
can be loaned and be Of some use. The
writer believes there /, fair and fsvors.
BILE field for savings banks in all our larger
Texas towns aud cities, and Would be
glad 10 see them established. They are
As much necessity aud . benefs as the
building associations we have, which en-
courage and help the poor man to get his
own homo. The building associations
have done much good and made money
for their shareholders, and 50 will savings
banks II they are established and opersted
on sound business principles. L Z. h.