A sum under five rubles receives no interest--is merely saved and kept--which is, however, no slight benefit to the poor peasant. Above that sum, 4 percent, interest is paid. The owner is at liberty to withdraw the principal at will. The tables published in 1845, after twenty years' existence, afford a most satisfactory and interesting result. The increase of members who partake of the benefits has steadily advanced. One-third of the number are inhabitants of Libau, the remainder are from the country. A very important gain was also perceived to arise from the system: a large portion of the silver rubles and Albert-dollars paid in, had evidently been for many years kept entirely out of circulation, buried in pots in the earth, and consequently in such a condition, that it was often necessary to have the coin carefully cleaned, before it was fit to be sent out into circulation again. Besides the pecuniary advantage, the improvement in the character of the people has been remarkable. The savings-bank has strengthened in a singular degree the love of order, industry, and temperance. How many cheerful hopes and anticipations are connected with savings! It has been ascertained, both in England and France, that since the establishment of savings-banks in those countries, no criminal has ever been found to have been a member of one. How true a benefactor to his country has the young merchant Hagedom proved himself to be! May he live long to direct the savings-bank of his native town of Libau! And, to conclude with the words of the last report of the institution: 'May a gracious Providence continue to prosper this first and oldest institution of the kind in the empire of Russia, and preserve this institution, so highly beneficial to the economical and moral state of the people, in its full prosperity, to future generations!'[7] FOOTNOTES: [7] Communicated by a lady, as translated from a pamphlet published in Russia. CALORIC SHIPS