Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1902-08-15
VIRTUE OF SAVING
HEAD or GREAT SAYINGS BANK
DISCUSSES THRIFT.
John D. Hicks of New York. Tells OF
Good Work Accomplished by His
nstitution-chiIdren Taught Habits
of Economy.

Saving is a positive virtue; but
man may save too much. He may
go naked and catch cold; but human
nature is not built that way.
1t goes without saying that the man
who is not provident and does not lay
up for rainy day has not the first
element OF advancement He needs
to learn Of his little neigabors the
squirrels and the bees. There comes
a time when ones savings are needed,
and there also comes a time when
they are not only needed, but become
storehouse from which he may use
the energies which he has accumu-
lated
The accumulation OF savings elimi-
mates the fear of want and gives con-
seriousness OF strength. The posses
scr of savings, however small. knows
that he has something to fall back
upon. The army that has no com
missary in the rear has but little
energy to give to the fight in front.
In the physical world, were it not
for the coal stored up during the past
ages the inhabitants of the globe
would be without fuel The conserva-
ton of energy is factor in the sue
cess of nature as well as in that OF
The Bowery Savings bank is the
an individual or a nation.
largest savings institution in the
world have been connected with
the institution for forty years. When
4 ~ -
bank there were s7,000,000 on de-
posit- To-day the books show $780,
100000. We average from 1,250 to-
1000 transactions day. By that |
mean that there are that many de-
posits and drafts made. One day re-
Gently there were 1925 people in the
bank. They deposited $4,000 and
drew $4,000. leaving balance of
$4,000 in the bank as the result of
that days business. This is a fair.
sample of a days transactions.
We have nearly 10000 depositors
at this one bank. In New York state
the deposits in our savings banks
amount to more than 81 900 600 900.
In the majority of cases the individual
dCCOunl Is Siudil- @NOH, Just what uO
these figures mean? How does a
saving bank assist in the development
of the worlds business2
These institutions are regarded as
repositories of the savings of the
thrifty classes of the community. And
this is true; yet it is but part of the
functions of the institution. Through
the instrumentality of the savings
bank this immense amount of money
is thrown into remunerative action,
and thereby contributes to the adj
vancement of society. If it had not
been available for investment pur-
poses many of the towns and villages
that now are equipped with all the
conveniences of modern times would
be deprived of them.
Fewer water works would be in
existence, fewer schoolhouses. fewer
church edifces. Here is a practical
use for these savings
Just a word of the reflex action
upon those who save.
Among the 10000 depositors here
a percentage are children. That is,
the parent and guardian deposit in
the name of the children. The little
ones are thus taught in the most ef-
fective way possible the value OF
property and the benefits accruing
from it. In other words, they are
taught the real meaning of thrift
John d. Hicks in New York News