The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1898-01-03
THEIR BENEFICENCE.

Savings Banks and Their Usefulness and
and Benefits Opinions of Connecticut
Bank President as to the Altruistlc Idea
Which Makes Such Institutions Possible.
Mr.. Fl. l.. Reade of Jewett City, presi-
dent of the Jewett City Savings bank for
nearly twenty-five years, writes Of the or
igin, benefcence and benevolence of saw
ings banks as follows:
In this Christmas time when SO much is
said about The Christ and what has come
to humanity from his advent, one thing
seems to have been forgotten--that savings
banks date their origin from the Bethlehem
stable Up to that time no nation on the
earth had institutions in any way anala-
CONS to these, and passing over 1897 years,
the followers Of Buddha or Mahomet have
exclusive business rule, is there anything of
this sort.
| tion of the angels song" good win to
| men, They are in the line of that, life
| where history car. be put into a single SEN
| tsnce.thought Of others; and so, When
Founder, these institutions began to have
| being.
THEIR BENEFICENCE
What do savings banks mean to any, COM
| munlty? Take those of our own state In
Connecticut they number 80. Their total OF
| assets, December 31st, 1896, We're $3.50, 420-
1881. This vast amount II money is In the
care of these eighty nine corporations,
whose sole business 1t is to invest and re-
for the highest pecunlary good Of the men
and women and children to whom 1t be-
TO WHOM DOES IT BELONG?
| There were on the date before written
1856, 445 depositors In the savings banks Of
the state Three hundred and eleven
thousand, nine hundred and thirty seven
had less than one thousand dollars set to
their respective names; the amounts being
| all the way between ten cents and the sum
| above named, Now, 1t Is safe to say that Il
| very small proportion of these more than
| three hundred thousand persons, including
as this number does, young and old. have
either the opportunity or the ability to
safely and successfully loan their money
and the savings banks open their doors and
Bring in your dimes and your dollars, we
| will mass them and then loan where loss is
least possible. at an annual per cent. to you
mills, on the dollar; md that shah include
all charges for investing, collecting inter
| est, paying taxess and for all else Incidental
1 to the best management of what you see fit
| to commit to our care. All this with hard
" a possibility Of loss and your money
ready for you any time at the nskingp'
| Now, Ii there LIS any business on the
4 planet conducted for Others and conducted
L
COST. the writer would be pleased to know
it. So / want to say here that the benefit
| of these institutions to individuals and
communities fnds no parallel, md that
| they are only possible as an outgrowth of
the Christian idea-Adoing for Others.
THE BENEyOLENCE OFT
And who does all this work? There are
In round numbers 1880 men who are di-
rectors and managers In these -eighty.nine
savings banks. They are the best business
men In the several cities and towns where
these banks are located. They meet, In
many cases, oncefa week, not all, but con-
siderable part to transact business that
requires the best thought of the best think
ers. 1t takes time to consider and plan for
the Investment of millions, when so few
CEILINGS" are good and so many not; but
time and thought are given-time and
thought that would cost the depositors in
these eighty-nine banks any where from
thirty to sixty thousand dollars year " il
was bought in the business markets of the
| world.
Now, all this. for. which these directors
do not receive dollar Is a contribution for
the good of the man and woman and child
who. earning little more money than is
needed for current use, want to put their
meagre surplus aside for some coming pur.
pose on some coming day; and If there Is a
more noticeable and valuable benevolence
in the state than this, 1t is beyond the
| writer's knowledge.
Now, multiply the savings banks in oui
state by any numerals that will make the
sum equal the number of savings banks In
the Christian nation of the world and yor
will begin to see what the Manger Child
idea is doing in this direction.