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Beyond Penn's Treaty

The Life of Thomas Eddy; Comprising an Extensive Correspondence

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Ever watching the progress of philanthropy, Mr.

early saw the great utility of Savings Banks.
This excellent institution had its origin as late as
1803. From this period, the benevolent were deeply
engaged in establishing savings banks in every city,
town, or village, where they were required. The first
savings bank that was put into operation in this
country was established at Philadelphia, but almost
simultaneously another at Boston. Mr. Eddy had, for
some time, made great exertions to get one up in the
city of New York, but he met with many difficulties
in the attempt. The objections raised were, one after
another, combatted with success, and at length, in
1819, Mr. Eddy, with his friends, John Murray, jun.
and Jeremiah Thompson, effected this purpose. This
bank has been in full operation ever since. Mr. Eddy
was a Director from its commencement until his
death, and for some time Vice President of it. There
are now more than fifty of these savings banks in
the United States, which have been of an incalcula-
ble benefit to the poor. A bank not only saves their
money, which might have been foolishly expended,
but it gives a poor person no small degree of respec-
tability among all classes of people, when he is pro-
vident enough to put his spare earnings into such an

Mr. Eddy

was an active and zealous member of
the New York Bible Society, and amongst the first to
lend his aid to its establishment as early as 1806, and
continued his connexion with it until the time of his
death. This Society was founded only two years
after the parent society in London. The origin of
the Society is a singular fact in history. It is said,
that a Welsh divine, good as he of the same country
described by Swift, whose cassock was out at elbows,
travelled to London, and stated to some of the reli-
gious societies the want of bibles in his flock, and the
great scarcity of them throughout all Wales. This
statement set the pious to making inquiries, and a