New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1894-03-07

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of the capitalist to whom the money
was loaned.
The repeated failure of banks makes
every depositor run the risk of losing
everything that he invests. Some hope
to grow suddenly rich by speculation
and place their money where it IS swal-
lowed up forever. Others look forward
to the future. Welfare of their families
and make life insurance the receptacle
for their wing, while in many instances
this has proved successful, it has been
great loss and source of waste to the large
number who have been unable to keep
their policies in force.
The incentive to frugality are not as
strong as in former years, when there
were not SO many comforts and luxuries
to tempt one spend all he earned. Many
are not naturally thrifty, and experience
has proven the necessity of having some
system in order to induce such to save
anything from their earrings. They must
have some object in view and regular
time when they feel obliged to lay by
definite amount.
Cooperation is one of the burning
problems of the age,-one's money oc-
cOmplishes so much more when it is
coupled with other sums. This element
in the Building & Loan Association gives
to it much of it's strength. The constant
Impression and egression of funds per-
vents the keeping up of wealth, for the
few, which might otherwise result. The
loans are made secure by frst-mortgages,
and since these cooperative institutions
are not subject to depression and have
never been known to fail, tLey are abso-
lutely safe.
The systematic and compulsory saving
is advantageous in many ways. The
exact date for the paymen, being fixed,
the investor or borrower knows just
when and how much he is expected to pay
each month, ,and often saves few cents or
dollars that would otherwise go to
purchase some Unnecessary trif1e. If he
has not the money he has an incentive to
extra industry that he may earn il. Of
ten he is induced to deny himself hurtful
indulgences and habits of temperance are
formed. If one habitually saves he can
not but grow more Industrious, temper
ate and contented.
A man who is paying for his home
takes great satisfaction in knowing that
his toll is gaining for him something
permanent, while he would have easily
grown disheartened ifafter years of labor
he had nothing to show for it.
, The man who OWES his own home is
more likely to become valuable citizen
He is more anxious for good government
, and taxation, and takes deeper interest
in the welfare OF the community in which
he lives. He has some time and means
to devote to literary and social pursuits.
and thus brings himself under culturing
} and refining influences that would other
: wise be lost to him.
One who takes membership in such
an association helps to educate himself
! for business. He becomes familiar with
the channels of profitable investment en-
ployed by business men, and his contact
with such men gives an ambition to sue
ceed.
) Many of our wealthiest men date the
beginning of their success back to their
first determined efford to save something
from their earnings. With many it is
hard to make the first beginning. They
can save so little that they do not think
it worth while to save it all, 'L1ttle and
often fills the purse.''
Chauncey NJ. Depew, in recent ad-
dress before body of students, said,
"Every man who has purchased and
owns the home in which he lives and
has secured an income by which he can
live in it, no matter how frugally and
economically he has to live, tina. man is
a success" and as means to that end.
he exhorted them to "Stick, dig, save y
It takes but few years for member of
a Building and Loan Association to be-
come the owner of a house for which he
has paid in monthly installments amount
ing to little more than rent for the house
would have cost him.
A writer in the February number OF
the North American Review says: Gall
the localities in this fair land, be they
large or SMALL are interested in the
question of home-getting. No move
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