made, and all dividends thereon shall an extra dividend shall be declared. be immediately added to the princi- This is because the object of the pal; in which case compound inter- Institution is to aid and assist the est will be gained. poorer and middling classes of But people who have paid money society. in, may become sick, or otherwise want their money. It is therefore provided, that they may take it out on the first Wednesdays of March, June, September and December, by giving notice to the Treasurer one week beforehand. The reason of this regulation is this if the money could be called for on every day, the Trustees could not lend it out, or employ it to the advantage of those who make the deposit. Monies may be deposited by any person for the benefit of a minor or other person, and not subject to be withdrawn, if they please so to order at the time of putting the same in. This plan will be particularly useful to seamen bound on a voyage, or soldiers, or other persons who come in possession of money, received by way of wages, prize money, or gifts and gratuities, for which they have no immediate use, and which they may wish to have remain for future necessities. Monies put in, will be entered in a book of the corporation, and also in a book to be given to those who Widows and children may also in put it in. This book will be the evi- this way be provided for. A young dence of their property, and as valid man intending to marry at a future as a note of hand. When monies day, and young women who may exare called out, this book given to pect to change their condition, can the depositor, must be brought to here safely lay up a sum against a the office to have the payment enter-time when they may want it more. ed. Depositors may take out the Deposits made at any time bemoney themselves, or in case of ab-tween the quarters ending the first sence or sickness, it will be paid to Wednesdays of March, June, Septheir order, properly witnessed and accompanied by the book. If persons die, who own money in the Society for Savings, the money will go to their heirs, or persons to whom they may have given it by will, with certainty. It cannot be placed where it will be more safe, as it respects the honor and fidelity of management. Persons who put in money, must sign the rules, and agree to conform to them. This is necessary for the security of all parties, tember and December, will not be put upon interest, till the first Wednesday of the quarter succeeding the deposit. The reason is, that it would be impracticable to compute interest on numerous deposits unless it is made to commence from a few fixed periods. The following tables show how much the smallest savings may amount to in 5 years, and also in 10 years. paid in as soon as they amount to one Twenty-five cents a week laid by, and dollar, and continued for 10 years, may dol-produce as follows: In 1 year to 2 years to years to No sum above two hundred lars can be received in the course of any one year from one depositor; and the Trustees have a right to pay off any depositor the whole or any part of his deposit, whenever 3 13, 18 27, 03 41, 58 5 years to 56, 84 10 years to 72, 90 166, 00 4 years to 50 cents saved and deposited in the same ciety, and until others are chosen in In 1 year to manner may amount 2 years to 3 years to 4 years to 5 years to 10 years to 26, 47 54, 23 83, 48 their room. 4. The Treasurer's office shall be kept in some central place in the 114, 12 city of Hartford, and shall be open 146, 30 every Wednesday, from 2 to 5 333, 10 o'clock, P. M. 1 dollar saved each week may amount 5. The Board of Direction, shall In 1 year to 2 years to 52, 97 meet at least twice in every year, 108, 54 166, 92 on the day next preceding the days 228, 23 on which dividends are to be decla292, 60 red, and at all other times when a 666, 06 meeting shall be requested by the President, a Vice-President, or two Trustees. OBJECT AND BY-LAWS 1 The primary objects of the Institution, are to aid the industrious, economical, and worthy; to protect them from the extravagance of the profligate, the snares of the vicious, and to bless them with competency, respectability, and happi ness. 6. Dividends shall be declared on the first Wednesdays of June and December, annually, at the rate of five per cent. per annum, on all deposits, not less than three dollars, which shall have been deposited six months and on all deposits of not less than three dollars, which shall 2. The Board of Direction shall have been deposited three months consist of a President, twelve Vice-or more, and less than six months, Presidents, and twenty-four Trus-the same per rata, dividend, shall be tees, to be chosen at the annual, or declared for the term of three other general meeting of the Socie-months; but no dividend shall be ty, and shall hold their offices until cast or made on any fractions of a the next annual meeting, and until dollar. others are chosen in their room. 7. No interest or dividend shall be cast or made on any sums withdrawn before the dividend is made, and since the last previous dividend. 3. The Board of Direction, for the time being, shall have power to put to use the funds of the Society; to elect such officers as the inter- 8. At the end of every three ests of the Society may require, years, to be computed from the first from among the members of the cor- Wednesday of December, 1819, poration; to ordain and establish there shall be declared a dividend of By-laws, for the regulation of the all the profits which may have acBoard ; to determine what number crued within the said three years, of the Board shall constitute a quo- and not already divided, after derum to transact business; to deter- ducting the necessary expenses of mine the amount of the Treasurer's the institution, and any sums that bond, and the sufficiency of his sure- may be necessary to keep good the ty, and may fill any vacancy which capital deposited, and such dividend may happen in the Board, by elec-shall be paid to the depositors, tion from the members of the Socie- whose deposits shall severally ty. And all officers elected by the amount to the sum of three dollars Board, shall hold their offices until provided said deposits shall have the next annual meeting of the So-been with said Society for the term of one year, at least, next preced-sitor may designate the time for which it is made, and all dividends thereon shall be immediately added to the principal. ing the time of declaring said extra dividend but in making said dividend, no regard shall be had to any fractional parts of a year, but each 13. In case of the death of a desum deposited in any year, shall be positor, if the credits to such deporeferred, for the purpose of calcula-sitor in the Society, shall be less ting its proportion of extra dividend, than fifty dollars, the same shall be to the first Wednesday of December paid to the legatee, or next of kin, or next, following, the time of said legal representative, without the deposit. expence of the probate of any will, 9. The Board of Direction, with-or of letter of administration, and in one month next following any ex- such payment shall discharge the tra dividend, may pay off to any de- Corporation. positor the whole of his or her deposits. 10. All deposits shall be entered in the books of the Corporation, and a duplicate shall be given to each depositor, in which his deposits shall be entered by an officer of the Corporation or Direction, and such entries shall be the only evidence of the deposits. 14. The Treasurer of the Society, before he enters on the duties of his office, shall give a bond with sureties for the faithful performance of the duties of the trust imposed in him. 15. No addition to, or alteration of these By-laws shall be made, except in general meeting of the Society. And every depositor, on 11. Dividends and monies with- making the first deposit, shall be redrawn, shall be paid only to the de- quired to subscribe to the By-laws positor or the depositor's order or of the Society, and shall thereby be legal representative; but neither considered to give his or her assent the principal nor the interest of any to, and shall be bound by all Bydeposit shall be paid to any person, laws and regulations, which shall unless the depositor's book of en-afterwards be ordained and estabtries, made by an officer of the Cor-lished by the Society, in manner poration or of the Direction, shall aforesaid, as well as to the By-laws be presented, that such payments and regulations then in force. may be entered therein. And no money shall be withdrawn from the Society, except on the first Wednesdays of June, September, December, and March, and on one week's notice of the intention to draw being giving to the Treasurer. And no depositor shall at any time withdraw a sum less than five dollars, unless such depositor's whole deposit is less than five dollars. 12. Dividends not called for within three months from the declaration, shall be added to the princpal, and thereafter be entitled to divi 16. A meeting of the Society, may be called at the pleasure of the President, and shall be called at the desire of two Vice-Presidents, or three Trustees, or any six members of the Society. 17. There shall annually be appointed a Secretary, who shall hold his office for one year, and until another is chosen in his room. BY-LAWS OF THE BOARD OF DI- 1. The Board of Direction dends as original deposits. And shall be divided into Committees when a deposit is made, the depo- of three, whereof a Vice-Presi ་ dent shall be one, and to each the Society, to either of the banks Committee, the Board at their in the city of Hartford, or to infirst meeting, shall assign a month- dividuals, on good personal seculy tour of duty. rity; provided however, a pre 2. Any two of the monthly ference shall be given to the Committee shall be a quorum to banks, if they, or either of them, transact business; and in case of will allow for the loan, at the rate the death or the absence of more of six per cent. per annum, and than one of the members of a will semi-annually settle the inmonthly Committee, while on a terest account and no monies tour of duty, it shall be the duty shall be loaned to individuals for of the Clerk of the Board, to no- a longer period than ninety days: tify two or more of the Commit- and in case the money can be tee assigned to the next month, to loaned to either of the banks, fill the vacancy, and so proceed the Committee for the month from month to month, until the shall make the deposits. vacancy shall be filled. 3. All motions before the Board, shall, when desired, be made in writing, and no motion shall be discussed or voted upon, until it has been seconded. 4. At the end of every month, the Committee, whose tour of duty shall have expired, shall draw up a written report of their doings, and of the state of the Society, and shall lodge the same with the Clerk of the Board, for the use of the succeeding Committees, and to be laid before the Board of Direction at their next meeting. 9. The Treasurer shall make up his accounts semi-annually on the first Wednesdays of June and December, to which time the regular meeting of the Board, shall be adjourned, and a Committee previously chosen, shall examine the same, and attach their certificate thereto. 10. The monthly Committee, shall meet every Thursday, at 12 o'clock at noon, at the office of the Treasurer, to examine the receipts of monies deposited, and dispose of the same agreeable to the 8th article. 11. There shall be appointed 5. All reports of Committees, annually, a Clerk of the Board. appointed by the Board, shall be 12. Seven members of the in writing, and signed by the Com-Board, (two of whom must be mittee making the report. Vice-Presidents,) shall form a 6. Gentlemen addressing the quorum for the transaction of buchair, may sit while making ob-siness. servations. 7. The Clerk of the Board. shall give notice to each monthly Committee, when its tour of duty commences. 8. A standing Committee shall be appointed to loan the funds of AMERICAN ARTISTS. What American does not feel proud of the laurels which have been recently entwined round the brow of Columbia? Not reaped by the sword of slaughter-not to be Perfection !!! But no patstained with human blood-but ron stepped forward to encour plucked by the plastic hand of age the inventor, who was retardgenius, from the blushing bowers ed in his progress, by all the obof peace and innocence. We stacles which prejudice and povhave often boasted, that the arms erty, (those implacable foes of of Americans, have taught haugh- genius,) could throw in the glori ty Britain a lesson, which she will ous path he wished to tread. He not soon forget. But a still high-persevered, however, with a gi er boast is ours. We have taught ant stride. Prejudice was annihiBritain, and the world, that for lated, and poverty diverted by the which future generations shall liberality of a few enterprising bless the name of Columbia. We Printers in Philadelphia and Newhave taught her arts, that will York. He fought his way mantend to diffuse knowledge, virtue, fully, until he found himself eleand consequently, happiness, to vated above the immediate asthe human family. This is a boast saults of want. But, the paterthat far excels that of martial or naval exploits. nal hand of his own government was not stretched forth to his as sistance; and he was compelled to offer that blessing to Europe, which his beloved America knew not how to appreciate. To American genius, Europe is indebted for the present perfection of the Quadrant and the Steam-boat. To the same source, has England lately applied for as- England received him, as she sistance in the beautiful art of En-did our West, and many others, graving, in order to check a sweep-who have been driven to her by ing torrent of corruption, which the same causes, and who have her own ingenuity has laboured in vain to oppose. sought her for the same purpose. The COLUMBIAN PRESS, was ad mired and adopted, and the name of Clymer, enrolled on the glit tering tablet of fame. But, we have yet higher claims on her gratitude and applause. Columbia has given her the PRESS, the medium through which all hu- But the benefits of his invenman knowledge flows. We have tion, are not confined to the fastgiven her PRESS, that will for- anchored Isle. The great empire ever perpetuate our name; a of Russia, is to be enlightened by PRESS, which she has cheerfully his genius, and extensive regions, adopted, instead of the rude and now sunk in the gloom of ignobarbarous machine, which has rance and barbarism, will owe heretofore supplied its place. their renovation to an American And here we feel a glow of Artist. Alexander has done what confusion on the cheek, for the our government neglected-he i ingratitude of Republics." The has adopted the COLUMBIAN COLUMBIAN PRESS, was invented PRESS, as a national blessing, and by our countryman Mr. Clymer, rewarded the artist with a forseveral years ago. It was investi-tune. gated, tried, and acknowledged It is true, that we have not |