The Columbus journal. (Columbus, Neb.) 1874-1911, 1910-08-24

A CENTURY OF SAVING.
One man has made the world rich.
Thrifty Scotchman be Was. Quiet
and unassuming his personality. No
idea had he that he Was to begin .
movement that would be greater in its
results than the costly conquests Of
Napoleon.
Nor did he ever know. While the
world At large Was landing its heroes,
its Statesmen, its financiers. this unas-
suming parsonage PASSED away. The
needless millions took no note of the
demise Of the Rev. Henry Duncan Of
Ruthwell, Scotland. He went, ss he
had lived, quietly.
Yet this was the founder of the say.
ings banks, that institution which has
marked the rise to prosperity Of the
peoples of many nations.
Those Of today do not realize the
comparative scarcity of money q gener.
alton u 50 ago. And one hundred
years hack, when the original ancestor
Of the savings hank came into being.
the great common people were just one
remove from sers. NominalIy they
were free. Actually and practically
the most Of them, outside Of America,
were 50 dependent on their overlords,
or landlords, that the idea of having
. reserve supply Of cash never entered
their heads. Since then the masses
have put away nearly fourteen and a
half billions Of dollars, or about as
much As the worlds total supply of
actual money, including unsecured
paper notes.
So far as the rank and file are con.
cerned, this year brings one Of the
greatest Of centennials. For in 1910
it was that the Rev. Mr.. Duncan, who
had been shocked and grieved by the
wastefalness Of his charges, offered to
pay 5 per cent interest Oh any savings
his Pensioners might leave with him.
In those times the interest rates were
much higher than nowadsys. Money
was scarcer, and stiff charges for the
use of it were natural.
Therefore this thrifty pastor was
able to handle the funds intrusted to
him in such manner that he was able
t. pay the promised interest and to
put the savings movement on q self.
supporting basis.
Then were noticed the first fruits of
the savings bank. Its prime results
were:
Less drinking.
More thrift.
From the first, therefore, it became
apparent that the savings bank was IS
much of . moral IS . financial agent.
To save something for . rainy day
men gave up, or at least controlled,
their bad habits. Having saved, they
became better citizens, solid and sub.
stantial, with u motive for adding to
the welfare Of the government that
protected the boards that gave them a
natural feeling Of prosperity and
independence.
Just one hundred years later the
American government awoke to the
merits Of postal savings hanks and
passed q bill for their establishment.
Perhaps in many ways the American
postal savings hank bill leaves much
to be desired. Still, it marks an epoch,
just as did the original savings hank a
hundred years ago. For the savings
habit most nearly becomes universal
as the amounts that may be deposited
are reduced to the smallest practical
figure. The postal bank, by handling
exceedingly small amounts. encoura-
ges even the smallest of wage earners
to thrift.
Another thing the suspicion in
which some people hold financial
institutions does not apply when the
faith of the government is behind all
deposits.
The result: every man who has
deposit is interested in maintaining the
government. The man of millions is
no more fearful for the preservation of
vested rights and Interests than is the
man who feels rich on Q $50 surplus.
-Pittsburg Dispatch.
SWEDES LIKE ROOSEVELT.
Theodore Roosevelt is regarded in
Is the greatest man of his