The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1890-04-24
manitomof pilot.
THURSDAY, APRIL "a, 1890.
PEOPLE WHO SAVE MONEY.
A saving Bank Teller Says Germans Max
the Most Deposits.

Savings bank, rs You probably know,
were started. not as money-maklng in
stitutions but as places where the
poorer people might safely invest the
surplus of their earnings. For a num-
Der of years deposits upon which in
terest was paid were not limited in
amounts, but by comparatively
recent act Of the Legislature. individual
accounts upon which interest is paid
nav not exceed $1,000. | mention
these facts because they must be borne
in mind in order that the peculiarities
of some depositors may he shown"
These remarks were made by Mr..
MAYNARD, the paving teller of the
BROOKLYN Savings Bank, TO ar Eagfe
reporter who had come TO him in quest
of information.
People of what nationality, Mr..
Maynard, patronize savings banks the
most?"
The Germans are by long odds our
best customers. As race they are
thrifty and saving. The moment
young German begins to earn money
he almost invariably begins to save it,
no matter how small wages he may be
getting Nor when he has once begun
does he stop. His deposits flow in in a
constant stream until they reach the
limit, or until the young man has saved
enough with which to start in business
for himself. Yes. our German citizens
are the most thrifty. and of all our de-
postors give us the least trouble"
What do you mean by giving
trouble?"
+ mean that even the poorest Ger
man can read and write and so have
some intelligence. This is far from
being true Of ali dcpositorS. Next to
the Germans | think YOU may place
those of Irish descent, so far at least as
saving is concerned. When opening
an account they keep the fact secret.
even to the members of their own
families MANY of them o. course. are
servant girls. who save great deal Of
money, some of them accommodating as
high as s., 900"
What nationality averages the
largest deposits?'
The Germans deposit the most at a
time and also more frequently. a
Young German will scarcely ever put
in less than $50 or S25 at once, and
when he has gone into business for him.
The Italians. continued the cashier,
save an enormous amount of money,
living as they dc. Deposits of $50 to
500 ut n time are not uncommon
among people of this race. We do not
prize them, however, rs customers, be-
cause they are too ignorant to make
dealing with them an easy matter.
Some five years ago there was Il run of
Italians upon this bank and | can tell
YOU we had trouble enough for two or
three days. Not being able to read or
write, and in most cases ignorant of
the English language, it was exceeding
" difficult to make them understand
anything After that experience the
bank decided to take no more deposits
from Italians except in cases where
they could write their own names and
speak English"
do such runs occur often?'
Yes, upon an average of once in
every eight years. You see there are
no people more sensitive to rumors
affecting Il bank than the classes who
support savings institutions. One in
discreet item in Il newspaper, for in
stance, Is pretty apt TO precipitate a
run. OF course such runs make us a
great deal Of work, for people with
their drawn deposits keep them out a
week or two and then as soon as things
quiet down they bring them back.
Saving money is habit that evcntrl-
ally takes a strong hold upon person,
is it not?"
Indeed it is. | have an instance
illustrating that point in my mind now
oil
maker of this city has been depositino
money here until he has about $4,000
10 his account, upon only 5000
Of which he can draw interest. This
man lives in very humble way and
has got enough money to keep him in
comfort for the remainder of his life;
still he keeps on depositing. Time
and again | have expostulated with
him, telling him he should invest his
money, so that it might bring him in
an income, but all to no purpose. It's
the old story over again. He will
keep saving until he dies and then his
relatives will fight over and squander
his money. In this connection | may
say that we have number of similar
accounts of people who have never
taken their money anywhere else and
who can not be induced tor
How do Yankees and Americans
generally rank rs money savers?n
Not very well. To be sure. there
are many thrifty people among them,
but as rule the young American does
not save TO any large extent. The
reason for this is undoubtedly because
they have too much pride and are not
satisfied with living in a humble way or
with wearing poor clothes. They seem
TO want to enjoy themselves as they 90
along
Among working people what oc-
cupation possesses the most savers?n
With lis mechanics and storekeep-
ers have the largest accounts. Natur-
ally we do not have many professional
men as customers, but among the
comparatively few that patrouize saw
ings banks doctors seem to lay up the
most money. Lawyers generally keep
their money i'll national banks, as the
nature of their profession requires
them to have funds where they can
draw checks upon them. Many pro-
fessionai men, though, keep money in
savings bank rs side investment,
upon which they can draw for a rainy
day. Some classes of men. from the
nature of their employment, are I'M
able to accumulate much money
Painters, for instance, aud actors.
usually live through the summer upon
their Winters earnings.
AT what acre do most persons usually
begin to Save?'
The average of beginners is about
1lt
earlier, and Italians who come to this
country advanced in life much later"
The latest tad IN England Is Tor the
collection of the Victoria crosses given
by the military authorities TO soldiers
for especial arts of bravery The fact
that Surh col lpptiDps yya,o ba;n,r ,>,.,.l =