The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-04-06

Total 81, 796, 932 SO
The Committee on Banks, to which referred the
reports Of the savings banks made the following
port
Institutions in the counties of New York and Kings that
zoe bsos has failed during the past TO meet its
gsgements aud has passed into the hands of
The committee therefore exclude the Knckerbo:ser Sa
wings Bank from their report.
From all the other institutions (sxteea in New York
and three In Kings county, the reports made in
strict compliance with the resolution calling them
and from which the committee made the statement
annexed. This statement shows the deposits in New
York alone TO be twenty six miions and in the
two counties S2s 40 Al the first day Of January
and tbs number a oepostors to be 1850 10 meet
tha large Indebtedness, these institutions hold in bonds
and mortgages $l4 $40 Is: in stocks believed to be
convertible INTO money at short notice, 1868; in
post 81 Go 3O5 15makins, together $40 1870 900 81
and showing surplus Of assets above their liabilities OF
1852 229 o. During the last year alone, $l3 53s %
outa OF 81 322 52 and showing clearly that
the first day of January, 1854, the deposits
This difference it is believed does not proceed from
any want Of confidence in these but is
be accounted for BY the pressing demand for money
tie pressure Of the times upon that class make up
the large list Of depositors.
nent of the deposits in the savings institutions in the
whole State; but, from such returns they have
ceved-a statement of which is also hereto exed
they satisfied the banks in the other parts State
hold at least 0O0-making, together, So, $685.
726 al.
II will be that this sum- compared with the de-
posits held by similar Institutions in older countries
with reference to populaon speaks favoraby for that
class Of our people who avail themselves Of savings
Institutions showing the deposits to be larger In pro-
portion to our population than they in either Eag
and France. Our Minister in England, in 1852 as
certained from ocisl that deposits the
savings banks Of the United Kingdom were $50, 1884,,
o04 11s about $l44 $780, 01 &c. and in France
represented to be about $3.50, 600, 0c0.
Is believed that-arge the deposits are no found
to be In savings institutions steady increase
be confidently expectedsn increase equal at least
that Of the general wealth and growth Of the
State--thus bringing together, through them,
sums Individually small but In the aggregate immense
which otherwise would have been boarded in unprcduc
veness, wasted In extravaganza and all leading to
shing paupersm and all its attendant evils while they
elevate the social position and promote the happiness OF
the classes which practice them. So high Ia the value
placed upon these institutions in England that after
years Of trial government has, BY recent act Of Para
ment, made itsef responsible for all moneys paid into
the savings banks Of tine kingdom.
rhs committee believing that the policy OF the State
and protected to inspire confidence their safety
and leave them far may be undsurbed by
legislation hereafter have, after much deiberaton
termned TO recommend to the Senate place them un
der the supervision Of the Bank Department requiring
from them quarterly reports and giving the supern-
tepdent tho same power in respect to examination he
now has over banks Of issue.
II is believed that this plan will inspire and increase
confidence much legislation, and that the reports
will Afford highly valuable information and II may be
stated that II has the approval Of the ocsrs Of the
Oldest and best conducted Institutions in the Stats In
accordance with these views, your committee have pre-
pared . bill, and ash have 70 introduce the sams.