New-York tribune., 1880-04-08

year 1917
INCREASED DEPOSITS.
II became apparent last year. In tho early months.
that The savings banks in thc city Of NcvY0rk had
passed through Tie oidca which took nggrAva;ed
form ls7 after tne melancholy failure Of the Third
Avenue Savings Bank In the majority OF thr metro
pOian Institutions there then clear rvijrnccS Of
more cohl lunc arn'g iho dep 'sliorS; 0ley lowed
yc'r- J' '"' '''''A' '''"' ." "'' ''' '"' IL " y '''
Following upon th's restoration OF confidence
moved ac,!li'Y III business, waoh was tGo imin"dato
su.I ended dclositlng brcIuse tJey had surplus
earned moro money aud bee amo dcposors again
IInyc no ionbt that some money which had been IN
r"y aavs Il, h,ts ~ tr b"sr nopsh,c ,r'imcnt,
hond- c,lcl, Ia ls7D ia agreed tIat
A,nnll rI0ns NO n0up numerous than thoy have been
IL several years. Tu ticr Is matcrihl chang, Ia
the average nmonnt due each dcpOslOr fnc obvious
na". or H., ,,yrrags of ,c; aceo ut w"l have de-
cllncI. ~ consequence Of llr new snali deposits
B,tn these cni-.~ would fail plnm tho increase
twenty millions IN d'posit4 dnrng me year, without
uind, o. d'pIfiOr In no other state Is i e'miaI re-
suit rcporioI The transactions OF the savings banks.
Exprxsns or MANAGEMENT.
The coat OF coadurllns the slyn-s bauks IN the State
larger than It ou:ht 10 be- than 1t need he. In 1873
the salaries paid bv tho savings banks In the
amounted 10 s9i9S31 13. IN 1870 thay
SsG3 OG2 -. The cost Of the OF each
count kept durirS the year. saa, les alone. exceeds II
TIe expense is larger. so far rs am informed than
savings bank furnish statistics ~ sufficient complete
to afford ihe bass for safe comparisons. In the
oi each account for 1879: IN salaries. Is 90 cents.
In eight largest Swings banks IN tnnnr ticu Qhe
rcst are TOO small for comparsOL The average
coat OF tn care OF each account n s,laTn Is "a cents
the average cost III salaries. of each account Is only
T&S London Times Of July %. 1870, contained tho
latest Of tho British post office savings banks
From that return Il npPen. tnai the nyrraso rost OF
september. lSdl to July /. 1872 was 7olo pence; this
is scarcely 10 rrns IN currency The average cOrt
OF each transaction for the five largest savings banks IN
NcwYOrk Ciiy iu 1879 nearly 90 t97lO cents; and
The 1--WE largest savings institutions IN brooklyn the
cost Of ench transaction III 1879 was over 90
The salaiie, paid in many savings hanks are larger
tl:an those pat In many other, II not other kinds of
service, which resemble. In TIC qualify Of work and
The posrrnascr oi NewYork T. charged with gri at
responsibility and oncrcn' duties. lie has 100 en-
pOycs under is care aud protection Tens of millions
O n1n and yalnabl,B pas through hs hands every
year. The postmns'er piyra bonds IN tn" sum Of
81 $50 900 and l. paid salary of $4,000 per Tho
superintendent 0f 10" Money Orrr department gives
bond $2OOODO AMI is pnlI 900 per year; III cash
salaiy The snrcrint nrni OF .he Registry department
is raid salary Of S'i50o per ye"r Ihr r,nsae''on.
Once largely exceed III iher volume those OF
the ten cads OF slntr derartmcnts In tho State Hall
at Alhany pad snlariea which barely average
s1rn rae dcpuie, or ns.iainnis Gre paid from $4,000
to 81 800 the average Is S;',SO0 per year.
ngs banks knows that the salarles paid In many nsu
lin, 10 officers much exceed thrsc sa.nries
cif fOrp prime paiH % deputies.
There plain and conclusive rtasons why strict
economy should ruc savings bank administrative II
IL does not l. Fidelity tO depusituTs demands
The highest IL gree of economy III nanagenrnt.
. Tnc savings bank ought to teach frugalliy 10 de-
ns wei M receive their money and kep H. II
l. vice Of our American people that they do not study
rational economy IN thclr habits OE llvmg.
3-rhG work In savings banks Is OF that kind which
does require the exercise Of the tact. knowledge
discretion ANA acquaintance wlh men tat are lndisprn
sable IN ordinary commercial transactions. A.
Large salaries are not necessary insure the essential
The cost OF tue management Of our savings banks IL
than that rs;w here Whatever test isapplied 10 It.
And very mDOrtnnl fnct should hc taken INTO nc
the comparison Of our savings banks with those
OF Ncw-Eng gland. The saving. bnnsSF THIS Stale have
more money deposit than all tho savings banks III
Conn ctcui, Mnssachusctrs and New Iampsle. Yet
the number slvlngs banks IN tho thr'e States Is 3O5
while the number IN this state Is but llS
TAXATION OF DEPOSITS.
The expenses OF the savings banks are tax upOl the
of the depostors funds The proposition has been
made to lqy state the deposits savings banks
somo savings banks. IL Ia deemed " Tux thrift"
frugay Is the expenditure OF dcpOsitors money for
management any loss tax Oh thrift or any more Just
10 the depOstOrsl .
The dcpOtors citizens; they enjoy the protection
OF law They have tho benohts Of all the organized
State force, for tho protection Of io and property
Heads OF families send their children, If they wish, to
good free schools These things which cost millions
OF money to somebody In tho State every The DE-
postors in savings banks have S320O0O 900 Invested
hpse deposits Are sustained by an interest earning
plus 900. Is fnr TO the rect or ihe people
who have property that oil this active money shall be
state banks have been paying 100000 year of
State and local taxes Tor several years, upon
capital OF less than s24OOO00O among ,g sucn share;
men, all Of whose productive property 10 80 Invested
am sure there are tn0nsa % Hen' so nd IA