San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1890-06-12
The Daily light.
THURSDAY, JUNE u, 1890.
HOW TO MAKE MONEY.
The Mayor of New Haven, Conn,
Writes Entertainingly OF the
Value Of Small Savings and
Home Getting.

Value of Small Savings and
Home Getting.
Mayor Henry F. Peck, of New
Haven, Conn, who is also president
of the Co operative Savings Fund and
Loan Association of that city, writes
the following interesting letter to the
Palladium:
ITO build society from the top
down, assume, would be as difficult
q problem as to erect house by COM
mencing at the top. One would think
with good schools providing free edu-
cation 10 all, that the state had done
it's part. But we find that our boys
and girls, even with this armor to aid
them in the battle of life,
are graduated and still not complete
ly equipped, because they have not
been educated in practical knowl-
edge: they have not been instructed
in ideas of thrift and economy, in
selt-denial. They have not Teen
taught to save. Little does the pub
lie know of the improvidence preva-
lent in our midst. We do not begin
to know how much of poverty is
brought about by improvidence,
prodigality and waste. What is need
ed to round out the education of the
young is a knowledge of how to live
and adapt oneself to circumstances;
and this brings me to the subject OF
Homes
Now, while a large number of
clerks, mechanics snd laboring men
own their own homes in New Haven,
it is earnestly to be desired that the
time may come when many thous-
and more may be their own landlords.
The air is full of wild schemes for the
amelioration of the condition of the
workingman. AS man must earn
his bread by the sweat of his brow, |
than on the line of industry, thrift
and inexpensive houses owned by
clerks and operatives, and many
such cities will you find in our coun-
try. l am sorry to say we have too
many cities cursed with the tene-
ment system, and here it is you will
find discomfort and misery, and the
larger the city the more numerous
and dangerous does this element be-
come especially in times of industrial
depression.
prudence and self denial. l am
brought into contact with those who
have neglected to save when they
had the opportunity to do so, and if
for any cause they are thrown out Of
employment, they are at once depend
ent upon their relatives and friends
or public charity; whereas had they
saved when they had the opportunity
they would have been in a condition
to bridge over a period of idleness.
Philadelphia is called the City of
Homes. 1t is there that building
associations flourish to the greatest
degree. More people are owners of
homes there than elsewhere in the
country. The rapid increase of the
cooperative banks IN Massachusetts
is noteworthy. The first bank was
organized in 1877 and on November !,
1888, there were IS Of these institu-
lions with assets of $500, ll2. In
November, 1889. the number had in
creased to SO, with assets of s., JOG =
752, an increase in a single year of
q, being gain of Il per cent, the
largest growth in any one year since
these institutions were established.
Assuming that of the deposits 81 500
on the average means a home, the
beneficent results of the system are
apparent.
1t is hard to convince young men
that the way to get on in the world is
by saving. | have heard more than
one member who had paid his
monthly dues for one year, say
that he never had SO much money
in his life; he was surprised
This self compulsory plan OF
paying monthly dues is one of the
advantages of the system. If a per-
son will persevere for one year, the
incentive to save grows on HIM. There
are too many people who will not deny
themselves some little present graft
fication. They do not show the
sagacity of even the Little SPUR
rel which lays up his win
ter store of nuts. Seventy-tive
out of every hundred will say that
they can not save anything. Some
think they are fated to be poor and so
do not try. Too many fiatter them
selves that there are shorter
ways to make money and so
waste their money in policy
playing and buying lottery tickets.
Let such ask who are the success
full men of today, and they will find
that they are those who saved first
500, or 81 900, and that it cost them
more effort than all the rest that they
have made. HENRY f. PECK.