The Providence news. (Providence [R.I.]) 1891-1906, 1900-04-20

from Col. William Goddard was read:
Providence, April 1S, 1900
TO the Board of Trustees OF the Prov
idence Institution for Savings:
Gentlemen-I beg leave TO resign the
Office of president, which. by your fa-
vor, l have held for nearly % years,
and / desire that my resignation shall
take effect upon the qualification OF my
successor on the 23d inst.
i finish my long service with much
of personal regret that l cannot longer
promote the interests of one of the
greatest OF the public charities which
illustrate the Christian civilization OF
my native city. Surely few OF the ef-
forts of those who strive TO fulfill the
divine law, Bear ye one anothers bur-
dens,' are more worthy than the pre-
vention OF penury and want by the en-
couragement OF habits of thrift and
economy. In its influence upon individ-
ual character, In its effect upon the
welfare OF the state the savings bank
which is well managed, holds COM
manding place.
The mendicant friar or the 18th CEN
tury, with a literal Interpretation OF
the injunction, Take no thought of
the morrow, for the morrow VIII take
thought for itself" was content to
beg for bread and shelter; but wider
knowledge of Scriptural truth pre-
vents US from writing this maxim over
the doors of an institution, founded for
the benefit OF those who can hay by
small sums, as relief in sickness, or
old age and as a guaranty against the
degradation of asking aims, or the
shame of the poor house.
But, with the growth OF this insti-
tuition has come the necessity for per-
sonal supervision more constant and
even more vigilant than that which.
up TO this time, has been possible.
Ianna xxytcn loot 1nI 30 .lac
at the head Of this great bank a man
whose thorough training and large ex-
perience have fitted him for task be-
yond my powers and demanding an at
tention which with many other ex-
acting duties, / am not able TO give TO
it, Mr.. Phillips will devote his time
exclusively to the duties of president of
the Providence Institution for Savings
and ask for him the
confidence and the cordial support
which you have ever given to me. and
which l regard as one Of the distinc-
tions of my life.
During the existence OF this charita-
bic institution, covering the long period
OF over so years, IT has had but four
presidents. The first was that eminent
merchant, Thomas Poynton Ives. my
honored grandfather. His period of SER
vice. beginning in 1919, ended with his
death on the 30th of April 1885. He
was succeeded by Benjamin Hoppin,
also a merchant os great prominence.
who lhefdatlfe Office. Dfitil May. 1866. His
successor was the late, Robert III. Ives,
than whom no ADLER merchant and no
more enlightened philarthropist ever
devoted his time and talents 10 the
welfare of his fellow-men. His work
of charity ended with his death in July.
1875. and he was succeeded by his
nephew, the present incumbent.
OF my distinguished predecessors in
this high office. do not need to speak
in the language OF eulogy. Their works
do follow them. and their lives still in
spire, in those who have survived them,
the noblest- st-aspirations OF the citizen
and the broadest conceptions of moral
obligation. "Other men fabcred, and ye
have entered into their labors."
In retiring from an office which Is
closely connected with the history OF
my own family, i bear cheerful testi-
mony to my personal obligations to the
strong men with whom i have been as
sociated in the management of this in
stitution. Without their wise counsels,
without their willing aid. could have
done little to merit the approval. of
which your repeated election to this
high office has assured me.
/ have preferred 10 speak OF the saw
ings bank as n charity. i am not un-
mindful of it's agency In the develop
ment of this industrial community, but
that good result Is incidental. The
TO furnish "a place for the safe deposit
and the prudent investment OF the
money OF those who by reason OF age.
ignorance. or infirmity. are themselves
unable to take care OF their own saw
ings Ii is therefore a pervasion OF the
purpose of its founders to permit the
rich and the intelligent to make use OF
the savings bank as means OF obtain
ing a profitable. as well as secure,
investment. Ii Is my earnest hope that
those. who will hereafter administer
the affairs OF this institution, VIII never
forget that their first duty is TO supply
the deficiencies of those who are un-
trained to the care OF property and to
keep for them and for their protection,
the accumulated surplus, which gives
such ample assurance OF the satety OF
their modest savings
With the expression of my warm re-
gard for all of you. my associates In
the board of trustees. / remain, faith
fully yours,
The resignation was accepted after
which the board adopted a resolution
as follows: -
.sThe retirement of Col. William Cod
dard from the presidency of the Prov
idence Institution for savings enus
long period Of active service, and the
directors would make IL the occasion
TO place upon Their records this rccog-
milton of the valuable services he has
rendered the institution.
"He was elected a director Oct. ?,
1S53.and began active service as MEM
Der OF the stading committee in Octo-
ber, 1869. and in this relation he has
served continuously. and as president
since his election to this Office Oct. 4.
1875.
"Thls long service Of more than 46
years covers an eventful period in the
history OF this country. especially in
it's financial affairs: during all this time
his watchful care over the investment
OF our funds amid the changes conse-
auent upon currency imitation and debt
creatinn has been constant and nn-