the Church, are the principal, or the only depositors, often emigrate to the South and West in quest of employment, where they fall victims to the yellow fever, or some other tropical malady then their deposites, the fruit of their hard labour, remain for ever unclaimed in the Saving's Bank, to enrich cunning lazy usurers. These observations are not fictitious nor imaginary, but founded on facts and experience: I have attended, along the public works, in Vermont, at the dying bed of Irishmen, who had not then any means whatever of restoring the usury to the owners, or, in their absence, of expending it upon charitable purposes, or, of transferring the deposites from the Savings Bank to father or mother, to brother or sister.Really, it is desirable that our Irish men be prudent and tenacious of the paths of their fathers. It is reported that several hundred thousand dollars of Irishmen's money, remains, and will for ever remain, unclaimed in the Boston Savings Bank, to say nothing of what so remains in all other such institutions.

The Burlington Savings Bank was never intended for the Americans, either rich or poor; the former, despising the paltry interest given there, seek a higher rate elsewhere, or invest their funds in some commercial speculation; the latter, can hardly support their families, and have never any thing to put into the Savings Bank. It follows, then, that the thing was devised for catching the savings of the frugal hard working Irishmen; perhaps to grasp at the several sums daily remitted by our boys and girls to their poor parents in Ireland. When the Americans volunteered as our guardians, did they imagine that we are too ignorant and simple to take care of our own trifles? They should, in modesty and politeness, mind their own, not our savings, at least, until we call for their tutelage. Did they think that they, like drones, should keep and count the purse, and the Irish, as the active bees, be doomed eternally to gather in the honey? Adding insult to insult, they gave no notice of their intention; not one hint did they give of the thing, until

the village papers announced, with a mighty puff, one morning in November, 1847, that a precious Savings Bank, chartered by the Legislature, now in Session, is already opened, and in full operation, on the west side of the Burlington square; where the good and faithful treasurer, Mr. H., and fifteen highly respectable directors, hold their hands and hearts wide open to receive and preserve the poor people's savings; that the same honorable treasurer and directors have frequently generated in our midst, wholesome and beneficial institutions, but that by the introduction of this bank, they have crowned themselves with glory, and conferred upon us a load of gratitude; that the institution will, like the sun, diffuse light and warmth, and perhaps check the golden stream setting in for Ireland; that it shall be conducted on fair banking principles; and that the servant boys and girls, and working classes at large, may, with safety, rely it as their own chest.

upon

Indeed, the fulsome praise by the hired press, on that usurious concern, would make the uninitiated crazy, and think they are surrounded by angels, deputed from above to guide them to paradise, not at all, by cunning sharks looking to their dollars, and quite careless about souls or future promises. I, myself, in the seventy-second year of my age, was well nigh being carried down on the flattering current: for I reflected on the good luck of my Irish boys and girls, under the fostering care of these Conscript Fathers; and I felt astonished, how they were heretofore able to save their monies without guardians or Savings Banks, or how the poor of other places subsist without a ray of the Burlington new light. Such reveries, floating in my vision, had nearly dazzled my old eyes, until the very Charter issuing from the press, dispelled my illusions, and unfolded in full view, a deep and crafty plot for swindling our property. A few extracts will show that such was the intention.

Charter. Sec. 1. "John N. Pomeroy, Wyllis Lyman, Henry P. Hickok, Carlos Baxter, Henry Loomis, Dan Lyon,

William W. Peck, Sion E. Howard, William H. Wilkins, Jr., Thomas H. Canfield, Edward C. Loomis, John H. Peck, Philo Doolittle, Henry Leavenworth and James W. Hickok, and such others as shall be duly elected members of said corporation are hereby constituted a body politic and corporate, by the name of the "Burlington Savings Bank."

Section 3. "All deposites of money shall be improved by the corporation to the best advantage, and the profits thereof be divided in just proportions among the depositors." But the time for making the division is not specified; perhaps on dooms day. "And all such deposites may be withdrawn by the depositors, at such reasonable times, and in such manner, as said corporation may direct." The usual contempt of Irishmen breaks out here. The poor depositors are left no option; cannot draw one cent, until the time suitable to the corporation comes about; but when will that be? perhaps never.

Sec. 4. "Said corporation shall have power to elect, by ballot, any other person or persons, not exceeding fifty, including those who are at the present time members, to be members of said corporation." Here also the depositors or owners of the funds, are left without the lest power in the election. Now we see, that the goodly corporation care not for the gospel principle -Do thou unto others as thou wouldst they would do unto thee. Among the Americans, the share or stocholders are the only persons to make the by-laws, and to elect the officers. But in the Burlington Savings Bank, this rational system is reversed: the self-appointed treasurer and directors, who own not one dollar in the concern, usurp all power, and leave to the owners or depositors no power whatever, to make the laws or elect the members. How nicely do these guardians of Irishmen's property, settle the matter for themselves! "Said corporation shall have power to elect any other person or persons, not exceeding fifty, including those who are at that time members, to be

members of said corporation." This clause is so obscure, and tangled, as to puzzle even a special pleader. In the name of common sense, what is the meaning of the words: not exceeding fifty? Do they mean that the other person or persons to be elected, shall not exceed fifty years, or fifty in number? If they had kept the plural number only-"They shall have power to elect any other persons not exceeding fifty," the expres sion, like the ancient heathen prophesy, might be construed one way or the other, might refer either to the time or number; but by saying: "they have power to elect any other person, not exceeding fifty," they evidently allude to the time qualification of the members. Supposing then that it was the intention of the collective wisdom in Montpelier, to exclude from the corporation all grey haired persons above fifty, let me remark that in the army, where youthful vigour and bodily strength are essential, men above fifty may with good reason be excluded, but in the bank, where loose and clear writing, book-keeping, with adroitness in counting the bills and detecting the forgeries, and in casting up the per-centage, are the only requisites, why should not the grey haired usurer or broker answer as well, or better, than the gawdy dandy of eighteen or twenty years? But why are the clerks above fifty excluded? Is it because the gravity of old age checks the levity of youth, or the scruples of the sage restrain the light fingering of the young rowdy? "Including those who are at that time members." This expression is also equivocal; it may signify, either, that said self-elected directors may be contined in the office, or that they may be at the next election thrown out by the fifty years qualification. A wide field is left here for the special pleader.

Sec. 6. "The treasurer shall give a bond, to the satisfaction of the trustees, for the faithful discharge of his official duties." So then the good trustees would take care that the whole concern, from top to bottom, be transacted, bona fide, on faithful and honorable principles; but they themselves, and not the depos

itors, shall be the judges. It is also curious, that they mention not what estates, whether the treasurer's, or their own, are holden for the deposites. It is well known, that bonds, if not predicated on some valuable real estates, are frequently useless, in these days of bank fraud and swindling.

Sec. 7. "The corporation shall be capable of receiving and holding such buildings and real estates, as shall be necessary and convenient for managing their affairs, to an amount not exceeding six thousand dollars in value, at the time of purchase." Therefore, they cannot at any time, receive or hold any houses or estates over six thousand dollars in value What a solid basis that is for a Savings bank! Suppose the young people who had deposited their earnings, resolve to emigrate to the West, or to Europe, could they draw their money, with which said houses and estates were purchased; could they take with them, on their journey, any slices of the estates or buildings, of the clay, stones, or mortar? Not at all; they should call in reasonable time, and in such a manner, as may be suitable to the worthy trustees. When that reasonable time and suitable manner will come to pass, nobody can tell.

Sec. 8. "Said corporation may make all such by-laws as are necessary and proper for the management of their affairs."

*

Here again are the depositors or owners of the pro

erty, cut off from all power in making the by-laws.

Sec. 9. "Said corporation shall not make or issue any bill or promissory note, to circulate as currency." Whereas, all other banks are privileged to make and issue promissory bills, to circulate as currency, why refuse the same privilege to the Savings bank; as all Yankee corporations are privileged to make and issue paper money, why withhold the same privilege from the poor Irishmen; is it for want of a soid basis in their Savings bank? When the deposites amount to one hundred thousand dollars, would it not be a better basis than the Guildhall, Windsor, Bennington, or even the Vermont State Bank,