The Republican journal., 1896-03-05
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.o~IA1. SAVINGS BANKS.

ways advisable for man to hus-
resources in such manner as to
.-unst future want. The man of
.... uens needs to practice economy in
. : well if he so manages as to
r5tIing laid up for the rainy day
49,. ~ai to come, sooner or later, in
1T all. While this is true of the
l. 1t is no less true of the rich.
y give power and means to live
To- do much, but with an in
wealth comes an increase of re-
jlv While the poor man may be
. uaneier to his own advantage,
man must be one or lose his
A spirit OF frugality is to be
led at all times. Extravaganza
.r and is. the cause OF much suf-
While no man has a moral right
J.Ii4al Of his possessions, it must
..r n mind that what is prodigality
Wy be within the bounds Of econ
mother Ii would be folly for
no man to spend a thousand dollars
rrts with which tn decorate for
Nal event; the rich man could
lj it, and ii would be an advan-
tine world Incidentally, let me
whatever is invested by the
a'r social or other purposes is
lgantage to The working people
luce the things required. so,
read of some great social event
Nrw York four hundred, we
't look upon it as a waste IF
dl whatever is paid out be it
or thousands, goes into the gen
sation and is. 10y SO much, an in
The working capital of the
Blty and extravaganza are rela
inns and not absolute. AS a gen
- uIe, it may be safely said that the
ra who is living within his income, and
same time making provision for flu
tcda is an economical person. AS
'u. We have not learned how to save
n4 advantage. This statement needs
.i proof than the present financial
jden of the country. AS a people,
t ra rxtravagant We have not learn
10 so use our incomes as to get the
aossible from them. Had the peo-
his country known how to save,
of the suffering among the working
would have been averted
.nOW how TO save is only one side of
jeet of frugality; it is of equal inn
noe to know how to invest what is
The opportunities for investing
-nms are not numerous. 1t is sell
hat small savings can be protitably
tv the holder, while larger amounts
ready place in the money markets
world. i is, therefore. essential
Some means Should exist by which
wings of the working people may be
Uably placed. This need was felt for
time, but it was not fully met I'M
-}ings banks came into existence.
4ese banks first came into being as a
a,e enterprise. Far seeing and phil
Hlopie men, who realized the impor-
e Of intoxicating habits of thrift among
poorer people, received the savings of
st who cared to invest their small
anngs, and paid for it's use a small an
mad interest. AS this arrangement was
found profitable to all parties, the bust
ness rapidly grew until It became neces-
aFF for governments to pass suitable
laws for the safety and protection of their
people. Inscriptions persons have al
ways been ready to Cypress the people for
PERSONAL gain, and it is necessary to pre-
vent this, as far forth as possible. by
enactment of suitable laws Organized
savings banks have existed in this country
tol the past eighty years. And it will be
admitted by all that they have been, and
dre good thing for the people and the
"0ntry. Government requires them to be
ou a safe basis Their books and methods
10 u0lng business must be opened to the
eank examiner whenever he may be
netSed to call for them This is for the
detection of the people. In seeking for
hEestments, safety is more important
jGtn high rate of interest. The first
fought, then, in connection with bank
Is ihls, is it safe? The next is, what rate
nj interest can it pay? Safety and high
a'e of interest are desirable to the in
}eot0r, but safety and a low rate are
rather to be chosen than a high rate ac-
fampanied by great risk. SO far, we are
'' agreed as to the utility of our savings
banks. There can be no question but
hat a good banking man must be a
good tinancier. To discriminate between
good and bad investments, to know what
IS safe, to know when to buy and when to
sell, in short, to know how to take ad-
yantage of the money market, is the dis
unguishing trait of a good fnancer
Financial ability may be acquired to some
extent, but good money investors, like
good poets, are born, not made.
Populists demand that savings banks,
IN connection with the postal service, be
established and maintained by govern
ment Had tho man who r;ripataI ~;