National savings bank. [online resource], January 01, 1868, Image 1

About National savings bank. [online resource] ([Washington, D.C.) 1868-18??

Image provided by: University of North Carolina at Chapel Hill Library, Chapel Hill, NC

                
A How do-h the little busy bee “And gather honey all the day Mi-
Improve each shining hour, From every opening flower.” <£{ mm
PRINTED AT THE OFFICE OF THE GREAT REPUBLIC. 4^
101. 1*
GIVIS HR THR OLD.
Give me th*» ol I, give me the old,
I.**t others choose the new;
Time rip* ns win-, nor sullies gold,
* li.it gilds the tried and true.
love th*» books in which are placed
The name- I u*ed to love.
Names lost to earth, hut angel-traced
Upon the books above.
Old hymns whose grand old melodies
Thrill on the wond-ring air.
And upward to the listening skies
lhe tr oubling spirit bear.
Our modern songs are sweet, ’tis said—
songs may do for you,*
But sing around iny dying l»ed
Th- eungs my mother knew.
It matters little to you now
What name this relic tears ;
Tis old, bnt wrinkles on my brow
Tell ine of vanished years.
Its worth to toe cannot he told,
I loved the giver ;
Take thou the n-w, give me the old,
It tells of long ago.
It tells ine of a vanished tone
I list to hear again—
A *ong halt sung, a work half done,
A broken, sad refrain.
It tells me of a lonely hearth
Os tender, haunting eyes;
It whispers lovimrlv of earth,
But points me to the skies.
Charles W. Hills.
FREEDMEN’S SAVINGS BANK.
i FEW WORDS WITH THE READER, SHOWING
HOW POOR PEOPLE MAY BECOME RICH. .
I Every man wants to save something for
[ahold age and to support him in case of
pirn
I So man has a right to waste his money any
Kjpflt hRs to throw his bread out of
ne window while his hungry children are
■railing fur it. It is a waste of money to
■esl it for things you do not need. If a
lan with a family earns One Dollar a day
■d it takes only seventy-five cents of it to
p on, he has twenty-five cent over at
Kit. Now it is wrong for him to spend
Sii money for tobacco, or whiskey or cigars,
ft is wrong also for him to save up that
lr?nty-five cents from day today till he gets
k iwenty- five dollars, and then spend it all
l»»cosily coat or hat, or such things. Gay
pde*t!y clothes, food, driuks, or tobacco
pool only useless but they are hurtful.
I Accent clean suit of clothes every man
few*, - tut t»s waste his money for costly coats
■to keep from his children what properly
to them. A man who dresses him-
■ f u|» in fine sloth is apt to think that he
■above hoot st work, and as soon as he be
to think that, he will look around for
fc* o:h *r than honest ways to get a living.
IW if th.s is true of waste of money lor
ptf-ing, wiiat shall I say in regard to whis
■\iml tobacco! These keep a man’s
always empty, and clothe him in
rags. The man who has a family and
f “ glass of whiskey each day, cheats
PhUumtiy out of just so much money. If
takes from them in this way ten
f 6 caoii day, at the end of each year he
PfJJHteiod his wife and little ones of §36,50,
injured himself besides. lie is on the
r** So the poor house, and in this way ho
public support the family he
Fore to take care of when he was married,
p this way Isay a man does wrong to him
pit and his country.
lit is each man’s duty to earn all he can
®oestly; to use it for the support of his
p&uy and for sending his children to school,
r ‘* e should put by in some safe
riS! where he will get interest on it.
I »in ,n * mean getting interest on it?
L™ 1 tell you. Suppose John Jotffcon
pus one dollar a day and saves out of it
penty-bve cents a day! At the end of one
P* John will have ninety-six dollars and
prty-five cents! You would scarcely be*
that it would count up so large at 2 >
ps a day. but so it is. Now what w*>uld
P advise John to do with his money? If
f P?* s tn his trunk it is liable to be stolen.
| lf “? should hide it away in a stocking
r* 1 his bed, or under his floor—in each
f “*wy to be run away with by the rats,
NEWBERN, N, (J., WEDNESDAY, JANUARY 1, 18<;8.
or to rot irom wet, or to be burnt up in the
house: at any rate, even if it remains safe
and no thief gets it and no accident happens
to it, and John keeps it there ten years, he
will have only his $96,25 at the end of the
time. He will be worth just as much at the
end of ten years as he was at the beginning,
and no more. Any one can see that this
would be a poor use of his money. Now
what should he do with it? I should say
he ought to put it out to use so that it would
he earning something. If John had loaned
the money for a year at 5 per cent, to some
good friend whom he knew to be trusty, at
the end of that time he would get back not
only the money lent but sou d liars and
eighty-one cents for the use o it, which is
calieu “interest.” If John now says to
his friend this:
“ I don’t want the money. I will lend it
to you for another year and the interest
also, at the same rate as last year.”
He will have at the beginning of this
second year one hundred and one dollars and
six cents to lend, and at the second year’s
end he will have due him one hundred and
six dollars and eleven cents. At the ead of
the second year John lends his m<|p#p and
the interest with it again, and so on at the
end of the third, fourth and fifth year, till
the end of ten years. Now how much wilt
John have due him at the end of that time?
One hundred and fifty dollars! The 964
dollars which if John had hidden away for
safe keeping would hhvebeen only 96} dol
lars after all, has become without any trou
ble or care at ail more than one-half greater
than at first.
JOHN SAVES EACH YEAR. ** *
But there is still another matter in which
John is interested. In all yet said I have
talked as if John was idle while his money
was at interest. This would not be true.
If he saved $96,25 the first year, he could do
the same I think the second, third and so on
for ten years. If he did this and put it out
at interest just as he did with the first year’s
savings, he would have at the end of ten
years the large sum of twelve hundred and
ten dollars and forty-three cents! That is
to say—if a man saves only twenty-five cents
a day every day for ten years and puts it at
interest at 5 per cent., and at the end of
each year puts the interest also at interest,
he will have the large sum I have named.
Thus a man who should begin to save a
“ quarter * a day at the age of 20, would he
worth more than $1,200 at the age of 30.
He is on the high road to wealth. He can
buy a snug farm for a thousand dollars; he
can sow grain and raise cattle, and all these
will he yielding him money while he sleeps
That is the way nature pays interest to an
industrious man.
who is John’s trusty friend?
My reader may raise one objection to my
advise. He may answer:
“You have recommended John to lend
his money to a trusty friend! How can
he know who is trusty? Suppose he lends
it to some one he thinks is trusty, and finds
him not so? or if willing to repay, his
friend may be disappointed and lose the
money, and really not be able to repay!
What do you say to that ? ”
That I admit wonld be a very bad case!
I should be very sorryito advise John to
lend his money, hard earned and saved at
a quarter a day, to some one who would be
unwilling or unable to return it, principal
and interest. Bat suppose I have a friend
whom I know to be able and willing 40 re
pay ? You want me to name that friend.
Here itis—
the freedman’s bank !
I know it will be able to repay you for
this reason; Whenever anyone lends it any
ui»>aey, that money is at once put into
United States bonds. The Bank is bound
to do that with the money, and the law
does not allow any other use for it. Now
as lung as the United States pays its debts,
you are sure of all the cash you can lend
it. When you puuyour money in the Bank
you lend it tc the United States. Every
six months the interest is added to the
principle, and begins to draw interest it
self. Thus our friend John Johnson can
find his true and trusty friend without fail,
always ready to pay and always willing to
borrow. The noblest friend the poor man
ever had—Abraham Lincoln—signed the
bill that established this Bank* The ex
cellent General O. O. Howard is its friend
as lie is the friend of all good things and
good people. Judge 11. L. Bond, of Bal
timore. is its friend. Mr. H. D. Cooke, of
Jay Cooke it Co. is also its friend, and so
are good, true, and unprejudiced men eve
rywhere in the country.
Let me advise all to save their money
in this way. The house-maid can save $2
a month. In a year she will have $24.
In five years she will have $l2O at interest,
and that will double itself without her
touching it in about eleven years.
If a father should give his little child $5
at each birth day, putting that sum at in
terest, when his boy comes to 21 years wf
ago he would be worth more than S2OO !
A boy saving only 5 cents a day will
have $lB each year, and if put at interest
in this Bank will give him about S2OO in
ten years.
The man who spends ten cents a day for
tobacco, burns up or chews up the value
of three barrels of flour in a year. Thai
will supply bread for a man, his wife, aud
three children.
The man who drinks three glasses of
whiskey a day, spends say 15 cents. In a
year he spends $54.75. That will keep a
family of three persons in bread, buy c.ich
a pair of shoes, a hat, and a pair of woolen
gloves.
Now in all this I have said nothing of
the good habits that grow with savings.
The man who is a whiskey drinker soon
becomes an idler, loses all his work, he and
his family become ragged and miserable,
and have to be kept from starving by the
poor house. I hint at this, and leave my
reader to think about it, and by all ineaus
deposit in the Savings Bank,
CASHIERS OF BRANCHES.
Branch offices of the Freedman's Savings and
Ti'ust Company are located as follows :
Augusta, Ga., C. H. Prince, No. 40 Jackson
street.
Baltimore, Md.. Samuel Townsend, No. 7
Gay street.
Beaufort, S. C., N. R. Scovel.
Charleston, S. C., Nathan Ritter,- No. 9
State street.
Huntsville, Ala., L. Robinson, Gallatin,
near Holmes street.
Jacksonville, Fla., N. C. Dennett, No 22
Bay street.
Louisville, Ky., H. H. Burkholder, No. 116
Jefferson, betweeen 3d and 4th streets.
Memphis, Teun., A. M. Sperry, No. 8 Beale
street.
Mobile, Ala., C. A. Woodward, No. 41 St.
Michael street
Nashville, Tenn., John J. Cary, No. 66 Ce-
Newbern*tTc!’,-*;-A. ElloVo^*- 1 *°' v
New Orleans, La., C. S. Sauvinet, No. 114
Carondelet street
New York City, John J. Zuille, No. 188
Hlppkpp fltrppt
Norfolk, Va.. H. C. Percy, No. 14 Main
street
Richmond, Va., Charles Spencer, Freed
men’s Bureau.
Savannah, Ga., 1. W. Brinckerhoff, Bryan
street, near Drayton st
Tallahassee, Fla., Frank W. Webster, Mark
et street
Vicksburg, Miss., Benjamin A. Lee, corner
of Washington and Crawford streets.
Washington, D. C., AVilliam J. Wilson, cor
ner Pa. Avenue and 19th street
Wilmington, N. C. t S. S. Ashley, Freed
meu’s Bureau.
SAMUEL L. HARRIS,
General inspector.
BURGLARY.
We clip the following from the New Or
leans Times , of Dec. 5.
“An attempt was made on Friday night
to break open two safes of the National Sav
ings Bank for Freed men on Carondelet street,
between Povdras and Lafayette. The door
leading to the upper portion of the building
(which for same time has been unoccupied)
was entered by an ordinary key; a hole was
then bored through the partition door, lead
ing into the bank; by inserting a crooked
wire through this, the hook w hich held it
was easily unfastened. A most clumsy at
tempt was then made with two cold
and about half pound of gun-powder, to
open the safes.
“One, a Rich & Co’s safe, was somewha
damaged, and will reouire considerable re*
pairs. The plate covering the kev-h de, and
knob of the other, were broken off. The
attempt was done by unskilled men, usual
ly known as ‘ shisters.' We wore present
at the opening of the saf«*s. One contained
ten dollars in »*ilvcr and sixty cents in cur
rency. The other was filed with valuable
»inpers. We are informed by Mr. Sou vinet,
he cashier, that money is never kept in
the building at night.”
We quote the above to show how careful
ly all the business of the Freedmeu’s Sav
ings Banks is conducted. All the Moneys
and securities of the Company are kept in
such safe places that burglars cannot get
at them.
♦
true sayings.
Take care of the pennies, and the dollars
will take care of themselves.
“ The man who by the plow would thrive
Himself must either hold or drive.”
A stitch in time saves nine.
The bee works every shining hour. When
the storm comes she has a safe hive to shel
ter her.
Never buy what } r ou don’t want, because
it happens to be cheap.
If a man keeps his farm his farm will
keep him.
Notwithstanding the entire failure of
the cotton crop upon the sea islands in
South Carolina, the freedmen in and about
Beaufort have generally a good supply of
corn, and will be able to pass the winter
very comfortably. There will, however, be
considerable suffering on the mam land.
Planters in the Beaufort district state
that tiie iabor the past year has beei* a great
improvement upon that of any previous
year, and that the payment of hands every
night, or once a week, is decidedly to the
advantage of the employer.
At Charleston Branch one of the deposi
tors. n«»w an influential man. and tolerably
well off, having money in the Savings Bank,
was, when a boy, a chimney sweep.
At Memphis, Tennessee, a man was con
sidering whether it was best to put his
money in the Savings Bank, when one night
the thieves broke into his cabin and stole
between three and four hundred dollars.
Thb Bank at Memphis, Tennessee, has
recently been refitted with counter, desks,
and otlier conveniences, and is now one of
the best arranged Bank rooms that we have.
We are glad to know that our friends are
gratified, and that the prospects of the
Branch are steadily improving.
Oor success at Memphis, Tennessee, is
due in a great measure to ibe^aas‘stance of
a few faithful men, who from the first hate
been the true friends of the Bank.
Wo. I.