Courier Democrat. (Langdon, N.D.) 1891-1920, 1902-08-07
VIRTUE OF SAVING!
HEAD OF GREAT SAVINGS RAND
DISCUSSES THRIFT.
John D. Hicks Of New York, Tells 4,
Good Work Accomplished by III.
Observation-Disclosures Taught Habits
OF Economy.

Saving is a positive virtue; but n
man may save too much. He NAV
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 Law
up for rainy day has not the first
element of advancement. He needs
to learn of his little neighbors the
squirrels and the bees. There comes
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 accum,p
lated.
The accumulation Of savings elimj.
mates the fear of want and gives con.
seriousness Of strength. The posses.
sor 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 no,
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 we'll 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
l was first made a director of the
bank there were $7,OOO,OOO on de.
post. To-day the books show $50.
100000. We average from 1880 to
1000 transactions a day. BY that
mean that there are that many de-
poslts and drafts made. One day re-.
Gently there were 1895 people in the
bank. They deposited $4,000 and
drew $4,000, leaving a balance of
$4,000 in the bank as the result of
that days business. This is a fair
sample of days transactions.
We have nearly 100000 depositors
at this one bank. In New York. state
the deposits in our savings banks
amount to more than $1,000, O0O, 900.
In the majority of cases the Individual
account is small. Now, just what do
these figures mean? How does a
saving bank assist in the DEVELOPMENT
Of the worlds business?
These institutions are regarded "a
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 he in
existence, fewer schoolhouses. fewer
church edifices. Here is. a practical
use for these savings.
Just a word of the reflex action
upon those who save.
Among the 100000 depositors here
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 eff.
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.