Evening capital. (Annapolis, Md.) 1884-1910, 1890-08-01

The increase Of the amount OF deposits
In American savings banks is q tribute TO
the intelligence and thrift Of the working
classes Of this country II may be said
that practically the laboring people only
are the depositors 10 these Institutions
Some farmers put their surplus money
into savings banks and now and then
person Of wealth who Is not disposed 10
be active aud doesn't take kindly to the
trouble aud risk of managing bis cash,
keeps his spare money 10 savings banks.
Business men. merchants, manufacturers,
traders and spectators want TO handle
their own cash, hence they have no use
for savings institutions which pay low
rates of interest The money ia these In
slitutions, therefore may b. said 10 he
long TO what are called poor people. aud
the deposits and dep Jsltors represent how
poor these people are aud their number.
The savings bank returns for 1890 tell
story OF wonderful prosperity among the
masses Fifteen years ago II was thought
to indicate well II Ia every fosr families
of the eastern and middle states there was
one savings depositor. Last year there
were In Rhode Island two depositors to
every family. and 10 Massachusetts, three
for each family, while the deposits ag-
gregated 81 214, las, 3s0 In Maine. Massa-
chusetts, New Hampshire, New York,
New Jersey, Rhode Island. Vermont and
Pennsylvania. The number of deposit
ors was very nearly equal TO the number
OF voters; In New York the depositors
were somewhat In excess of the voters.
and 10 New Hampshire there were 81 900
more depositors than voters: Other fig
ures In this connection are interesting
and instructive, as for instance, the de-
posits In Maine are equivalent TO 1928 for
every family; In New Hampshire to 500;
in Vermont to $2S8; 10 Rhode Island TO
$936; in New York to $500, and In Massa-
chusettes to 1860.
Ia the eastern states the people have
learned the value of the saving bank.
They have learned that the bank can
handle money much better and with far
more safety than the individual can pos
sibly do. They have also learned that
saving IL 1t be only little at q time, soon
ed some of the truths which are illustra-
ted in little table which one of the char
liable associations is distributing, some
Of which facts may with propriety be
given here as follows: Five cents week
deposited In a savings bank paying 5 per
cent interest compounded semi-annually,
will amount. In ten years. TO 1913. 10; 20
cents week will amount In the same
time to $132 70; S1.00 week to 1864 03;
$500 a week To- So, 320.64 and $1,000
week to Sc. 641.53.
The savings bank has not been thor
oughly understood, and, Furthermore. as
in all communities where the great bulk
of the people were poor, there has been
use for money as soon as Ii was earned.
Houses were to be built and the living
provided for, and these necessities pre-
cluded the possibility Of saving much,
even by the practice of the most rigid
economy. Now, however, with the chang
ed and bettered circumstances, our peo-
pie will do well to learn what those Of
the east have learned, that the savings
bank is one of the best schemes ever de-
vlsed for helping the poor man. There
is no good reason why at the commence
ment of the next century the people OF
this State should not make as good a
showing In the matter of savings banks
deposits per capita as those of any State
In the Union.