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The amiable and intelligent Dr Duncan, minister of Ruthwell, who had conferred on society the blessing of savings-banks for the industrious poor, was the first to describe to the world these singular chronicles of ancient life. The subject was afterwards brought forward in a more popular style by Dr Buckland, in his lively book, the Bridgewater Treatise on Geology.
All depositors in savings-banks, and their number in New York City is greater than that of the voters, belong to the creditor class; all holders of policies of insurances, all owners of government bonds and State and bank stocks, belong to it also.
With Colonel Dodd stand all the financial interests the railroads, the corporations, even the savings-banks. He is intrenched behind that law which limits the indebtedness of our cities and towns. Municipalities cannot own their own plants under present conditions. Those men are even using the people's own money against them!
The cash chests of the Admiralty, of the charity houses, of the manufactures, of the savings-banks, of the working classes, the funds of the prisons, the relief meant for the infirm, the chests of the refuges, orphanages; and of the hospitals, were all seized.
In 1911, 1,300,000 strangers visited Berlin, of whom 1,046,162 were Germans, 97,683 Russians, 39,555 Austrians, 30,550 Americans, and 16,600 English. Berlin killed 2,000,000 beasts for food, including 10,500 horses; she takes care of 3,000 nightly in her night-shelters, puts away $17,500,000 in savings-banks, and has deposits therein of $90,500,000.
The statistics of the Friendly Societies, the Industrial and Provident Societies, the Building Societies, the savings-banks, and of countless other institutions, created by voluntary working-class effort for the purpose of insuring against sickness or death, and providing working-class investments, attest in the clearest manner the rapid growth of provident and thrifty habits among the wage-earning classes.
One need only go over the experiences of the past two years, to compare the receipts of merchants who cater to the working-classes and the statements of savings-banks throughout the country, to read the story of how the foreign-born are learning the habit of criminal wastefulness as taught them by the American.
The government through the post-office pays two and one-half per cent interest. In 1870 there was deposited in the post-office savings-banks approximately £14,000,000, in 1880 £31,000,000, and ten years later £62,000,000. In 1880 arrangements were made by which government bonds and annuities can be bought through the post-office.
A gas-light company was incorporated in New York in 1823. Not till 1836, however, did the Philadelphia streets have gas lights. The first savings-banks were established in Philadelphia and Boston in 1816. Baltimore had one two years later. Portable fire-proof safes were used in 1820. The Lehigh coal trade flourished this year, and also the manufacture of iron with coal.
This bill was to give to savings-banks the authority to lend money to communes, a proceeding which would take from Montessuy's business houses their best customers. "Berthier," asked the financier, "are you resolutely hostile to that bill?" Berthier nodded.
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