The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-04-14
FINANCE AND COTTON
FINANCIAL.

tx discussing the postal savings bank
y, The Chicago Times thus speaks OF
4, operations IN IanaHa'
"Tbe canadian postal savings bank stem
=, ,nto operation IN April, 1868. Under
@alsw interest is allowed on deposits at
80 rate of per cent per annum, COM
ua,riinp annually, the first addition to the
pV'iSncinai being made on the 30th of June
P, .x, '.ncceeding the deposit. Interest does
n nv, neqin 10 run until the beginning OF the
nsyt month alter the deposit Is made, and
/, ceases on the first OF the month in which
,bs dpposit may be withdrawn. Thus the
,oyernment stands chance 10 gam .rlle
;, Zach end OF an account. The depositl
ri aly one person cannot aggregate more
Than $500 in any one fiscal year, nor is
;rts,est allowed on sum exceeding 81 900
an any one account for any length of time,
Va dsposit OF less than 81 is received, FOR is
any depost that is not multiple OF that
ann Government assumes the response
h,lty for both principle and interest.
An official statement OF the growth OF
hrsjnsss under this system shows that there
were 81 postal savings banks at the outset,
cd glS on the S0th of June, 1882 On the
Srh of June, 1865, the deposits amounted
n s1l9. jO7; on the 30jh of June, 1882. they
had increased to So, 49,, $50. During the
came time the amount standing TO the
credit of all open accounts. including inter-
oct increased from $204 ,5SS 80 to S0,473,-
el 70. During the last fiscal year there
was an increase OFFS, 633 in the number and
of s2,2s0,9t7 in the amount of deposits.
since the establishment of the system the
amount OF interest allowed to depositors
added to their deposits has been 81 ,GsG,-
lll7g, The expense of the system, incIud7
to ull If
management, averages about Al per cent. of
the balance in the hands of the govern
ment. The profit on investment in Cana
dian securities has not been sufficient to
cover this cost, rs there has been net loss
OF IS 5l7 g. since the establishment of the
system.
The system has been in operation four
teen years, and yet the deposits do not
greatly exceed 81 per head of population
on the average, although the rate of inter.
est offered is per cent. In this country
We could not pay quite 8 per cent. for
money to invest in government bonds, aud
the induCement TO deposi,ors would be
only lhree-tourths what it. is if Canada,
under system based on government debt.
The Canadian example is not, therefore,
calculated 10 cause much enthusiasm in
the cause otpostal savings banks in the
United States. Still, no doubt, much al
! vance should be made on aCcoant OF dit
icrenCes of national character and habits.
L. is possible that less than per cent.
would attract deposits to larger aggre-
gate in this country, although per cent.
has failed 10 90 30 in Canada. Aud for that
very rels n it might not be wise to make
the experiment on the basis Of debt which
is las meltcg away.
"a LATE report by Consul Gentrd An
dreNs, q. Rio lie Janeiro, presents some iu-
teTesung facts respecting our commerce
with Brazil. During two years ending
with 1852 our tonnage arriving at Rio de-
creased 80 per cent, while our tonnage
clearing from there decreased 81 per cent
The exports from Rio for the year end
inc June 80, 1851, were valued at $l9,950,-
IA, OF which $3S,GS0, 4lG worth were sent
10 this country. We therefore had ABOUT
one-halt OF the export trade of Rio, an d
more than four aud half times as much as
any other country, although compare
lively little of the merchandise was carried
IN American bottoms. The imports ut Rio
Tor the same year were valued at Sil,476.
ol6, OF which we furnished S3,5l6 ,056 worth,
OraoOut one-Seventh as much as we took
thence OF Brazilian products. We fur.
nshed that value OF flour, lard
Kerosene, provisions, machinery, lumber
anu cotton manufactures. while Great
britain furnished Sl6, 226, 9B worth of man.
fractures OF cotton, wool, linen, coal, iron.
steel and machinery.
u During the last fiscal year we bought of
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