Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-08-15
IS SAVING MONEY DANGEROUS?

In a country so large as the nlted
states. wherein courts ars necessarily
so numerous, one can find almost any
kind OF judicial opinion one may desif"
to hear. The solemn. the fiprant, the
courageous, the corrupt, he serious ana
1.-THE fantastic all appear clothed In the
| dignity of judicial utterance ana pfooa-
ihly will ever continue so long IS judges
are human. Hence it is that Judge
C;rosscup, in Illinois, could deliver, N
Ian seriousness. the fantastic opinion
| that because deposits in American saw
tings hanks have increased during the
mast ten years from two bilious OF dol
lars to ten billions. therefore the saw
/ inrs of the wage-earners were lying
idle. when they might, under right con-
,itions. be invested in Industrial enter
prises.
| This is the first time that we have
seen the IDEA presented that Increased
/ deposits in savings banks Indicated
ANYTHING but thrift and prosperous
wage conditions for the man of small
earnings. but Judge Grosseuf fnds IN
lii a menace and signal of distressing
Ioon 5itions. Under normal conditions,
declares the noted judge, This NasS
amount would have bean invested by
1.-THE laboring classes. but It is lying idle
because polite swindlers and high-up
rasca1s' are able TO subvert the laws
land give to stocks value mat they
do not really possess. We can never so
hack to the DAYS of our boyhood," he
Ieontinues, but we can go back to the
DAYS when the man with Slho dld not
thave to hoard IL or intrust II to his
lnefghbor for safe keeping. but could
put Il; into industries, sure that II would
return with earnings"
Such a deliverance is indicative OF
an altogether too general mis@onceptioh
Of the province of the American bank.
Here is a learned man expoustdfng Wis
dom 10 his fellows and at the same time
llaboring under the popular deiuslon
that money deposited in banks Is
boarded.
! AS n matter of fact the modern bank
Inerforms a service that results in the
VERY antithesis of boarding. A savings
hank pays depositors 4 per CENT per an =
mum for the use o.. their nor.ey. II this
tmoney was hoaried the bank would
last about thirty minutes. IL is put te
commercial purposes by the bank man
Eagers who lend It to BUSINESS men al
an increased interest rate. The differ
ence In interest is the banks profit
The business men use Il III industrial
enterprises. And what is the result
, fWhy, the widow. working gil or labor
ing man who has no knowledge or tins
VALUE of Industrial stocks and knows
: little about business, places his or he
savings in the hands of the savng'
, bank for safe keeping. The bank be
{ comes the trustee for such funds. IN
, capital of the bank and The laws of tn
5 state all help TO guarantee the deposl
. tor the safe return of his money when
. lever he wants It. and the bank pays hir
: Ian interest earning. The derositor take
little or no risk and does not have t
: find a buyer tor his stock when sick
5 ness or other cause makes II deslraoi
e to get his money out. Thf banker, o
: the other hand, is an expert at invest
q ling. It is his daily business to exam
a Inc enterprises and advance the none
q on good security wherever he thinks
: business venture is worthy He is
= man of success In business or h
o couldn't get into the bank ng business
n AS trustee for the savings of worlSin
" girls he not only guarantees the sat
. return of their money, but invests 1t fl
It them In the industries of the land.
If he makes a mistake and loses, the los
: is his, not the depositor's. Sometime
+ banks fall. 1t Is true, but so seldom g
: compared to any other business tn;
d money deposited with them is safer h
- :, far than when invested anywhere els
What is true of savings banks is tr,
OF all banks. They are trustees for d.
posters funds and invest for them.
all the savings of a people that now {
into old socks and behind chimney co
ners would seek the 'strorg vaults of
bank there would be money enoue
= available for the most prosperous con
rlerce this country ever saw. III
judge who attempts to teach that II
. creased savings deposits indicate
boarding of money should HE hinss
: to the orient and expound his philos
!. ply to the Chinaman.
I'd
Id Harvest Labor Rates to Minnesota Al
ne the Dakotas.
Low rates for parties If five or mo
- via Chicago Great Western Railws
Tickets on sale daily Il; August
Il Liberal arrangements fur return TT
10 For full information apply to j. A. ELL
Id ticket agent, Marshallto1n, Iowa.