Evening star. [volume] (Washington, D.C.) 1854-1972, 1892-03-05
MONEY SAVED IN BANK.
Funds Which People Put Away Against til
Rainy Day That May Come.

Rainy Day That May Come.
"The way to get rich is to save money by reg
ular system" said the president of a savings
bank to STAR writer. Zone OF our deposit
ors early in the existence of this institution
was a newsboy. He sold papers on Penusyl-
vania avenue. Every day he came in and de-
posted as cents. He never missed a day
when the bank was open, and after a while he
had accumulated over 1000. He drew out the
cash and bought piece Of land with it. Now
he 10 q well-to-do citizen.
THE difficult.thing with most people is to
make the first start in saving. After one has
got together few dollars in a reserve fund an
appetite for accumulation is acquired. 1t be-
comes an object in life to put something aside,
which represents an insurance against misfor-
tune. People in this country are not much
given to saving compared with Europeans.
They usually live up to the last penny of their
incomes or just little beyond. This is GER
| tainly very unfortunate. In case of loss of EN-
ploymeut suffering for the wage Garner and his
family is apt to follow.
The only good plan is to make it an in
variable rule to deposit something each week
or each month. Having thus put the money
aside, 1t should be considered out of reach and
on no account to be drawn upon except in case of
sickness, loss of employment or death. 1t is
surprising how money will pile up when such n
system as this il followed. If every one who
possesses any income at all would adopt the
practice and stick to it, no matter how small
the deposits might be. poverty would be well
nigh abolished. There is no saving done in
Washington of the sort that is common among
| the thrifty people of New England, who put
their money into the bank and let it remain.
adding to 1t steadily year after year. Here the
people accumulate moderate sums and draw
q ypaY
save for taxes or vacations; in the autumn they
save for winter clothes and fuel. and later on
for celebrating Thanksgiving and Christmas.
fou can see that in a minute by our deposits,
which at this time OF year run high, while in
July they run low.
THE CONDITIONS IN WASHINGTON.
Conditions favorable for the business Of
savings banks do not exist in Washington.
There not great manufactures here en-
ploying steady-going wage-earners who put
something away against the rainy day. large
proportion OF our depositors draw out their
money about As fast they put it in, never
leaving much balance for any length Of time.
Considering them as individuals. it hardly pays
to keep their accounts; but the aggregate bal
ance on hand at any given time is always large
SO that it makes no difference.
I'VE have one very curious depositor whom
we shall have to turn down, | expect. He is
Polish peddler by trade. and he came in the
other day for the purpose of opening an ac-
count. He asked what was the smallest sum
that we would receive for that purpose. and he
Was told 10 cents. Accordingly he deposited
10 cents and was given q book in the US lal
form. The same afternoon he came In again
and deposited rs cents. The next day he came
In three times, depositing Is cents on each &C.
caslon- On the day after that he drew out the
whole amount guaranteeing his book. Two
days later he opened another account with 10
cents, depositing few pennies on each OF six
different occasions during the following forty
eight hours. Then he drew it all out again.
Next day he opened ano Their account and closed
it as quickly as before. This makes business
rather arduous for the cashier. SO we conclude
that We will not make any further attempt to
keep his cash for him.
There was another thing rather amusing
about that depositor. He could not either
write or spell his own name; but he had got
somebody to write it for him in plain letters on
a card. With this as copy, holding it in one
hand, he signed the book in surprisingly good
script, simply initiating the characters forming
the signature.
There was a big run on this bank during
the panic Of 1885 which followed the Grant and
Ward failure in New York. On that occasion
a cOlored man drew out about 81 600 which he
had saved, being fearful of losing it. Three
years later he brought the money back-the
very same bank notes which he had drawn
out-and deposited it again. He reproached
himself on the subject, saying to the cashier,
what jackass l am. I've kept this Doodle in
a trunk all this time and have lost the interest
on it. After the big panic of 1873 there &C.
CURED about fifty minor scares, in each case
causing run on the bank. But during all
those years there was one depositor, a colored
man. who steadily kept adding to his savings,
never once drawing out a penny. although his
accumulations, made in small dribs, were up in
the thousands of dollars. It was a remarkable
instance OF steady confidence. Usually people
who have money saved in bank are as readily
stampeded as a flock of sheep. and at the slight
est rumor run to make sure Of the safety Of
their cash: 1t is not surprising, either. con-
sidering what such savings usually signify to
them In the way of little self-denials
The most remarkable deposit that we have
ever received was boxful of gold coins which
had evidently been buried for years in the
ground Presumably they were thus hidden
during the late war. Some Of them were
wrapped in paper and all were much corroded
1t was nice little treasure to start bank &C.
count with"