New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-30
MR.. DEPEW'S CONFIDENCE.
HE THINKS THE ACTION OF THE SA'lN''
RANK PRESIDENTS WILL DO GOOD
POOR DEPosIToRS WILL HAVE AMPLE IhoiTO
1ION-TnE SAVINGS INSTITUTIONS OF TIE

city authorities, by Il little judicious maIas''"''
might prevent The heart burnings which Vert w
ca,ioned by the collisions between the dog ca''h'i'
and the owners OF canine pets and the law might De
repealed which compcls bicycle riders TO r'hs '.''
when nearing a crossing These reflections came I"
the writer yesterday he struggled up the hill "ni'"
forms the main street leading from the railroad s"'o
I'm Dobbs Ferry through the village lie enoouh'''u
several young and middleagcd men on p'S'''
bearing Gown the hill at rapid rate dogs "ti'o'''
them they came sprinting along III l"', -
seemed great fun for these dogs They rushed from
the houses on each side OF the street and tark'd Al
first the riders wouldn't mind them, but would Steer
their way little more carefully. Then III" u"r'
would growl and sIiar and snap AT the mems l'e''
slower and slower the rider goes, but the dogs "ou'
not bulge. lie must get down. lie gets uo"n'
The writer after man diSmount In TINS way
AS he continued on his way. 1t was really amusing
TO look Mt IT,
"whcre does Mr.. Dcpcw lvt!' one OF the men
was asked.
Mr.. Dcpew. Mr.. Dcpcw," he said. scratching MS
head in evident embarrassment. g. May BE- you mean
Chauncey Dcpew, do youl'
"Ycs.'
son. didn', know. Chaunccy-he's iooo
Chaunccy, too, and don't you forget t-live' rsh'
on top of the hill there. When the reporter
reached the house Mr. Dpcw was standing on 'h'
InaLzr rolling up a cane sunshade which shut on'
hills.
Have YOU decided when TO start for Europe Mr.
Dcpcwl'
NO. really have not he answered
Hut you viii 20 this year usual, Will yon no'
Well now 10 DE- candid. let me say that frci
very happy here and he spoke he looked over
the picturesque landscape spread out before him ana
then AT :: birds cage. which rested IN" grass Of
tnc lawn where captive boboink 10y Its t~lt,'rhS
and huttcrins had just lurcd into it, tiny piiaoh
ano, her pretty little s6Hgscr that but 4 moment
before was pcrchcd the top OF a lofty tree, iree
as air.
GLOW does the action OF the saving banks strike
YOU :" he asked.
well" he replied. lit will take more than a
mere sentence 10 answer that. In times OF panic
people are unreasonable. think that action oil The
savings banks Il II has been agreed upon, is very
wise. You must remember that It Is very easy u"
create alarm among saving, bank dcposltOrs, and 1t
always ends In their suffering great sacrifices lhcy
lose the interest upon their money. and they fall
into the hands Of designing spectators, VINO bnS
their pass books ut very heavy discounts"
I'D you think that II indicates shakiness on IN"
part OF any Of those tanhs!'
NO; at all said he. "Thc savings banks ol
The State are perfectly sound. The average deposition
i, never able Ia understand why the savings banks
cannot pay Interest and AT the same time be- all"
10 svc all their dcposiior, their money Instantly
,hrewi and we'll posted ~
That +, true no doubt. but they seem unable t.
comrr,h.n nd that the tr.-tccs Of savings bank. In
order to gel interest mu-t invest h" money witch
Is committed 10 thir cpins IN bonds ani mortgages
and other securities. where the money is loaned upon
time II cannot De called. 4 rule, for l~s than
year.
"suppo~c such a call were 10 b. mad" now su-
gostcd the reporter. "wiat would ia" result lr .
&c II tfff t, d
were to D.. called at = tn, Ike tll- th" d-irc.- Wl
would ,n,lic after forced SHE aud sacrifice oil iAfn'
ana home, would pr iur' condition 81 dl''r'''
which would H. little l,-. II Indeed Il would j. less
at au than tlc d..i..-- which would lee oc,a'ionci
hy the ,ackins Of city,
Won't IT ls.ar heavily on the poor
~I sm unabl" 10 ,cc # fro u@' light Even when
saving, bank, .rv. such rolc,.. they awlys d'crin
mate. ~ tai thcr, is no hardship. Ih' officer,
Ind b.tIr difficulty In determining wh'|7 Tue
person who demand, NJ, money i' really in I'D "i
IT, or T. anxious io draw il on simply h''1"'' h'
or she ha, been frightened. If iucy conclHd" 'm
The dcp,or I, really in nrci OF IT, III" ril" j. h"'
nvai,d Of by the banks. a., ihc deposition gets az,
money In any event do not believe thrr" would
be- any run on the savings hnh-' because P'"p'
know that they solvent
Might not ia" present uph"ivh III Inc hhah'"'
world lead them 10 think otherwise"
81 should say not. tn" present financial Stress
has continued long enough TO permit a eo"l deal ~
healthy education to penetrate In all directions on
financial questions, and in that direction ''p"l"hE
which relates more closely TO the CONDITION "i '''
savings banks
GEut d.po,itors are invariably tmd p
No doubt that {, true; but You must bear IN
mind that the deposlior /, beginning To understand
better than ever before that hc cannot eat MS can"
and have II al the time that for years h" cah"
receive Interest his money while that money u
stu permitted TO lie idly In the bank
How do You account for the present apparent
scarcity Of money In fhc~' Institutions y
Easy enough. one Of the causes Of the prrH'n'
scarcity Of money has been the action Of the saune'
,u,Ls I'm fo,tfying Themselves against possible runs
uuon them calculntc that from twenty nv" 20
thirty millions OF dollar have been Withdrawn from
circulation TN currency and locked zap In the savings
link vaults TO meet the possible contingency oil "a
run
"And their present action will affect thatl'
aft will OF course. The action will release much
q, t,ot money and in that way greatly help the
situntlon know Of instance not 20 many
wears ago where designing spectators went among
thc d,.posltors Of II certain saving, bank which WIS
not only solvent. but had a large surplus an
made them 10 believe that the bank was In danger
Tho savings bank dcpo,itors mostly poor
pcoplc 10 whom their deposits were everything ana
they did not understand the conditions Of the In
.tit,tion at ALL The bank instantly fortified Itself
and maid out about naf lis deposits. Til" men
who got ND the scare went among the crowd ont
side AMI bought their books for - per cent on.
In i've or SIX days the fright was all over ana the
d.udcd and dofiaudcd dcpoaitor, brought back 10
| the bank what they bad left after th" sharks had
shaved of the - per cent.
some people are 81 opinion that this demand oi
sixty DAYS notice T. hardship AMI an uuiair as
elimination against the dcpDsiior,, who are invariably
Door working people! - .
IL do not share that opinion" said Mr.. Dp'w.
On the contrary, | think IL saves the poor lrop''
| They are the one, who first frightened ana then
robbed The money Is deposited, subject - the con:
tract with the hank, that thcy rcpirc sixty day
notice before IL shall De- drawn ont In,. In my J'-
meni WAS a wise provision Of the law 10 prevent
pDor people being Stampeici by cauS"l"s, PANE
and e. give the banks the opportunity 10 rcalzr upon
the securities In which they had invested their De
| p0itor,' money without sacrificing ia" assets.
I'm every instanc. where the notice Ina, been gwen
nricnI. OF M. hamh. MlMAN. slnall ,llIs 10