The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-20

to the street.
Mr.. Doherty asked the store pro-
prietor: "Why was that man so
mysterious? What did he give you
to put into the safer"
The shopkeeper answered: ooh,
he wanted me to keep some money
for him. That package he handed
me contains several hundred dol
lars. I take care of a lot of money
for people just like that man, but
| don't want it known. My safe
might be robbed"
1T is very unwise to handle
money in this way" said MIR.
Doherty. "Why don't you tell your
friends to deposit their money In
some good bank?"
Banks are not safe," replied
this shopkeeper, who is foreign
born. MANY of my people once
put their savings in a bank and
woke up one morning to find that
the bank had closed its doors and
that their money was gone"
Mr.. Doherty explained to him
the difference between private
banks on the one hand, and Ma
tional, State Savings Banks and
Trust Companies on the other and
urged him henceforth to deposit
his own money in safe place and
to tell his friends to do likewise.
There are literally millions of dol
lars in this city kept out of circulation
and not earning dollar or doing the
country any good because they are
boarded away by people who do not
trust our banks and are afraid to in
vest their money in good securities
backed by reliable enterprises-per-
haps the very enterprises that give
them the chance to earn their living
and to save money.
This is not right. Every person
should use his or her savings to make
more money for himself or herself
also to help sustain the great enter
prises that make this the greatest coun-
try in the world for the workers.
Taking all and giving nothing back
: is not the true American spirit. 1t is
every citizens duty to save something,
and to- invest it where it will do both
the citizen and the country some good.
If each one of the 100000 workers
in the Metropolitan Zone will average
a saving of as little as $1.00 week,
the total in year will be 1872, 100000
and the interest on S1S2,000,000 at 6
per cent. will amount to $1,092,000.
Say the 100000 workers earn an
average of $500 week. This is a
low average for New York City. If
they save only $1.00 week each, it
will represent per cent. Of their aver
age earnings.
Mr.. Doherty tells me that if all
workers in the United States will save
only per cent. of their earnings and
will invest their savings wisely, their
combined savings with accumulations
will represent in a generation (40
years) a sum of money equal to the
present estimated wealth of America,
which is said to be over Two Hundred
Billion Dollars
nat is Thought IOr WORKERS 10
take to heart. They can own this
country if they want to, but to own it
they must save regularly and they must
feel proud to save and be willing to in
vest their savings where they will do
the country the most good.
| think every reader of this news
paper should write to Henry l..
Doherty & Company, 60 Wall Street,
and ask them to mail him or her copies
of several booklets which discuss SIM
ply but forcefully and convincingly
the real reason why everybody should
practice thrift.
/ confess that / was greatly i'm
pressed when l saw this book, which is
one Of the many pieces Of literature
printed by Henry l.. Doherty & Com
pany, and which they distribute to i'm
press people with the greatness of our
country and to stimulate them to their
best efforts as good, loyal citizens,
earnest workers and persistent savers.
In NV Indictment q hoI1sa that bases