The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-08-21
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The letters of Col. John A Cockerill in
the Herald from Japan contain a great
deal that is of interest respecting the life
and institutions of the japanese. In let
ter published on Monday there is an ac-
count of the manner in which a leading
bank of Yokohama is conducted. This
bank is one of the great financial insti-
tutions OF the empire, and yet, until re-
Gently, the president of 1t was paid only
$50 in silver or $40 in gold month for his
services, while the managers were paid
$50 in silver or $50 in gold month each.
1t is true there was a system of rewards
which, In some instances. brought the pay
of the salaried officials up to about s., 1000
a year.
Lately, 1t was decided to abolish the re-
wards and pay larger salaries. The pres
ident now gets about 81 600 year, and the
managers get considerably less. Some of
the employees get as low as Sc a month.
An interesting feature is the banks
method of providing against losses by
mistakes or dishonesty of the officials.
Each official and employee is taxed so much
per month in proportion to his salary, and
the amount thus raised Is a fund out of
which losses, due to the foregoing causes.
suffered by the bank, are paid.
There is also fund out of which gra-
tuities are paid to those who leave the
bank after having served satisfactory for
a term of five years.
The salaries paid by the banks of Japan
would not be very acceptable to those who
conduct the affairs of the leading banks
of this country, but is not the method of
making good losses due to mistakes and
dishonesty a good one? 1t is a method to
which the stockholders of American banks
would raise no objection. The losses of
some of the banks of this country, how
ever. are sometimes so enormous that it
would take a big tax or long time to
make them good by the Japanese method.
The inference to be drawn from the press
dispatches is that the terrible disaster at
the Gumry hotel, in Denver, was caused
through the criminal greed for money on
the part of the proprietor, or managers.
Denver is a pretty large city, and there
is no doubt that there were in the city a
number of competent engineers who
would have been glad of the opportunity
to take charge of the hotels boilers. Yet
the statement is made that the boilers We're
in charge of boy seventeen years old;
boy who drinks whisky. AS might have
bene expected of one so unworthy of the
trust. he went into the boiler room under
the influence of whisky and turned cold
water into boilers that were almost white
hot, with the result that the hotel was
wrecked and number of people were kill
ed by the explosion which followed as an
inevitable consequence of his act.
With democrats who sat on the facing
bench at the Griffin pow-wow falling away
from the 16 to 1 idea, the Hon. Patrick
Walsh is going to have an interesting time
in organizing party within the Demo-
cratic party on that idea in the grand old
state Of Georgia, as he was instructed to
do by the funereal affair that issued a 1e
to address from the Metropolitan hotel In
Washington the other day.
What has become OF Vice President Stew
enson? Is he lost In the wilds of Alaska?
The last heard OF him ne was moving to-
wards the land OF seals ard eternal snow.
II he has his presidential boom with him
II may become frozen 10 sblid II will not
BE- possible 10 thaw Il out by the time the
national democratic convention meets.