The Dalles times-mountaineer. [volume] (The Dalles, Or.) 1882-1904, 1897-10-16
NEEDS OF FINGS BANKS.

That there is a growing need for
savings banks in every community
cannot be denied. Those whose earn
ings are small and whose incomes are
but little above the actual necessities
of living are entitled to a system of
banking where'they can deposit their
savings in a perfectly secure institu-
tion where they will earn q income for
the depositors are provided by the diff
ferent and numerous savings banks,
but in the rural districts, there is no
such institutions. Consequently IN
| the localities remote from the great
trade centers the earners of small
wages as ruls do not lay by their ac-
cumulations from the simple fact that
they are not encouraged to do so. In
small and sparcely settled communities
| there is no field for a savings bank,
| hence those in such localities whose
| earnings are small. do not lay them
away, and at the expiration OF a life
spent in toll find themselves with little
Or no funds to their credit. whereas,
had they been provided with the faeil-
tiles for depositing their small savings
that the residents of large cities are
provided with they would find them
selves at the end OF their lives with
competency. To provide such de-
pository as will reach all communities
the postal savings bank seems the
only logical solution. c. w. Twining,
cashier of the FIRST National bank of
Monroe, Wisconsin, has written an
able article on this subject in which
he says.
ga sayings bank pure and simple Is
an institution that should be found in
every community. The ideal way of
organizing and managing pure saw
ings bank would be under private en-
terprise, with q rigid and effective
government supervision. AS private
enterprise each eommunity would re-
ceive the benefits of the circumstances
under which it is situated. ID, positors,
where rates are high as well as safe,
would receive creator rate OF inter-
est for their savings than where rates
were low. Under a goTaraEient scheme |
ths rate would necessarily ba level the |
United States over, probably not to |
exceed , per cent. But the fact that |
such an institution at this time cannot |
be made to pay from an investment |
point of view deprives the citizens of |
the great ,r Iart Of IT, United States
of its benefits.
II pure savings bank, where the
absolute safety of the depositor Is the
main feature, the expense of manage
ment must be reduced to o minimum,
as the funds deposited cannot we'll be
used with entire safety at a greater
rate than 3 or per cent and in many
cases less than this. Such institutions
must be managed by board OF direc-
tors, the mem 5ers. of which donate
their services, the executive officer or
officers and clerks being the only ones
paid for their work If pure savings
bank cannot be made to pay as husi-
ness investment, private capital and
brains will not be put into it and the
result is thousands of men, women and
children have no places to put their
small savings where they can receive
q return for them and at the same time
feel their money is absolutely safe.
The only solution seems to be for
the government to establish a postal
sayings bank under such laws and rules
ani regulations as will insure the
safety of the funds and sure, if small,
return as interest to the depositor.
The benefit to the depositors in such u
bank cannot be oyerestimated. 1t
would educate them rapidly to more
and thrifty manner of liv-
ng; it would create an interest in gov
,rnment affairs; it would be of great
assistance in all lines of retail trade,
where cash payments are desirable, as
people would have more available cash
O give for necessaries Gad less iIcen-
i've to spend it frivolously and for
uxuries. The management of such 4
,ank should be absolutely apart from c
olitics, so shat confidence in its man t
cement would not be shaken by any l
olitical excitement or change. If the L
uestion of savings bank or no savings L
ank ere to be voted on by the peo-
lie the majority in its favor would be i
t
The theory of projection is to build
10 home industries and keep our
money at home. Notwithstanding The :
)alles votes for protection eyerytime
t has an opportunity it is not prastic-
ng what it breaches. Ii sends it's
money abroad for nearly every manu-