The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-11-09
EUROPEAN SAVINGS BANKS.
Tho Countries III Which They ore Popular
aud the Laws Regulating Them
In. Y. Fun

m Y. SUM
The extent TO which savings institutions
are heing developed In Europe must he ae-
counted good augury of social progress.
There Is doubtless u wide difference In the
measure oil patronage which such establish
menlR enjoy IN different countries, and in
certain caaes other means Of Investment have
been found equally safe and more lucrative.
On the whole however, the statistics On this
topic throw much light on important eeonom-
loal questions, aud for that reason we avail
ourselves OF some data recently compiled FOR
the Rerue Britmnigne:
At present 1t Is not Great Britain, but the
German Empire which exhibits tho greatest
expansion OF savings banks transactions
Alike In the number III deposltora, and Ia The
aggregates stun deposited, 1t snrpasses the
United Kingdom. Thus Prussia alone. at
tho beginning OF 1879 contained 1850 estab-
lshnlenta. representing over two ana hhlf
million separate accounts, and total deposit
OF $685., 900 900. At u somewhat earlier period
the Kingdom of SaxonY possessed | Al banks
with more than hall million customers
having 10 their credit funds exceeding $57,-
OD00D0. In Bavaria, ht the latest date Tor
which Statistics are forthcoming, there were
2fn institutions. In which some 100000 depns-
itors Ind placed about &l2, Oo0.nOO. The King
dom of Wurtembnrg possesses more than SIX
score banks. including branches, whose ell
ents mot enumerated In the official docu-
mentsl a1e credited with some $t4.00O,O60.
The Grand Duehy OF Baden has gone farther
In The came why, since It's 80 establishments
comprehend more than 100000 customers,
and u united fund Of about S2t ,nno,oo0. With
out citing III detail the returns OF minor
States, we lnny say that tho assets Of Ger-
man savings banks represent collectively
some Sd5D D00O 900.
Passing 10 the Austro Hungarian Empire,
we note that the German and Bohemian
provinces OF the Hapsburgs have made
notable progress In this direction. According
,tr.t, Iu1tt barr, In,
Austria 275 savings institutions with upward
OF QUO aud q quarter million OF customers,
and i. total fund Ut about $275O0p,0gO In the
other noiety Of the empire, owing to nnscru-
puioul management. such establishments
command but little confidence, and since the
crisis of 1873 less than $sO.nHn,n00 stand to the
credit of depositors III the hungarian savings
banks. Turning to Frauce. where savings In
situations are not specially popular, we lind
the whole number Of accounts opened fall but
little ahert OF 3,00OO00 but the whole sum due
depositprs does not much surpass S17o, oOO, 600
la Great Britain, whore the savings bank sys-
tenn seems to have started somewhat earlier
than on tho continent, tue number Of private
Institutions is stated at All. aggtegatinE
|. AGO. ON depositors, while their united assets
somewhat exceed S200,oo000e, To tbose must
/ be- added the far more numerous postal
savings banks, which have not Tar from .700,-
600 dapositors, and total fund OF nearly
| $40 0hn.HDn. IT,
The same competition exists In Italy be.
tween tho private nnd postal establishments,
and altogether tho number Of depbsitols y,
the beginning Of last year was not far short
of .2no,noo, while The aggregate assets exceed.
cd St5n 100000
Ia Holland savings banks are very sparing-
| ~ patronzed, small capitalists preierring t.
| invest In the funded debt OF foreign countries
AT the last date reported 1873 establishments
had less than 100000 depositors, hnd theil
united assets did not exceed SG,000,00O.
| hguitlp EtatiEfjRf
but nine private institutions are credited
with more than 10000 customers, contributing
Il deposit Of S6OO0OO0, hnd the National Say
ings Bank with It's branches, has about 1890.
| 900 accounts, and aggregate assets amounting
to nearly S9,000,0o0:
The record OF Scandinavian countries Il
more favorable. Denmark, for example, n
/ the close al 1876 exhibited as many dgpusttUrs
4 books as there are families In the kingdom
and the whole sum duo dapositors WAS $G5,
Onu,00O. In Sweden tho number Of customer
approaches G0n0nD but their savings only ag
gregate $1,000 900. The Norwegian banks
on the other hand, with only 100000 custom
4 ers, show d total deposit oil S26, 0D000D
Passing to Switzerland. we observe that sa
wings bunk transactions have been Target.
extended during tho past fifteen years. La TIL
last year reported. 3l2 lnsti tutions bad nearl,
55O,NN0 depusitors. while their united assets
fell but little short Of $500. 1On.0nO. Russia, "
might have been expected. seems to be tn
most backward OF European countries III
Though no statistics are procurablo for Spail
and Portugal, or for Greece, Turkey and Rol
mania. According to the latest returns, oil
the Russian banks commanded less than 10
900 customers, md au aggregate deposit o
lest, thnn 900. Finland, as usual, pre-
sents q more promising record having SOM
thirty-six institutions, with nearly 1900
clients. and an aggregate fund OF Isl, 100000
4 word rs to the rate of interest paid an
the limitations imposed by law on the invest
,nent of deposits. In Prussia dppositors re
TIL fifth g "a 1T itt3f GGtt hit e 4efe
tion Is tolerated In the management OF thet
money, even the diseounting of commercial
paper being permitted In Austria. likewise
the banks are allowed to buy merchants bill
and 1t was the abuse Of this practice Wtllc
gravely damaged the hungarian establish
, ments In public estiulhti0n. In the GerInn
provinces OF the Hapsburg empire the rat
OF Interest varies from 4 TO per cent. II
Great Britain all the assets Of private as we
rs postal savings institutions must now b
, invested IN the public funds. The same thin
, may be- said Of France. where all deposit
must be placed In the ! per cents, aud Il
each bank leduets from the interest its eS
, peuses, 1t is plain that their clients would q
better to place their economies directly
the public obligations. which, rs matter {
fact, the mass of the population prefer 10 q
On tho whole, 1t may be said that. with tn
. exception Ct France and the United Kingdom
, the laws sEgoverning the Investments I
savings institutions In Europe seem decen
In strictness; but we should mention tina
!, great pains are taken, In most instances I
, prevent abuses through u system of of1icia
: control.
! Our Daily Food.
/ Adulteraion prevails in onr daily food. For
is q most important necessity. and 1t should
wholesome and nutritious. II all articles tn