The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1897-10-05

! =
servant N s family has his own ac
gat the bank, which, when it
4 cunts to a certain sum, is with
fawn for permanent investment.
I The usual rate of interest paid by
the municipal savings banks in Ger.
many is 3 por cent aud, although
their management is intrusted to the
municipalities, the banking inspect
ors of the general government exer-
else a supervision over them. There
is usually general office, with a di.
rector in chief at the city hall, whose
principal duty is to receive remit
tances from branch Offices that are
established in every ward. These
funds he invests in government
bonds or in securities of equal value.
The latitude of investment is much
greater than is allowed the postal
savings bank authorities in England
end France. The funds may be in.
vested in giltedge real estate mort
cages and even in the erection Of
buildings, but before this is done the
proposition must be submitted to the
committee Of the common council
which has jurisdiction over the saw
ings banks. This committee, whioh
is composed Of practical financiers,
merchants and manufacturers and
men who are in the habit of hand
ling money, acts as q sort of board Of
directors for the system.
In Berlin there are seventy nine
branch Offices with 489,000 deposi.
tors out Of population Of 100000
and the total deposits are little
more than $40,0OO,OOO. In Dresden
the savings banks show still larger
utility in propo' Ion to the popula.
ton. Although the number of peo-
pie In Dresden is only about one fifth
as many as in Berlin there are half
as many depositors in the savings
banks aud the deposits exceed $22,,
100000. 10 sorae of tho other
cities tho proportion is much larger.
In the town OF AK la Chapelle, for
example, with only lTO,4 popula-
tion there are over 100000 deposi.
tors, with credits Of more than $780,
o0o,o0e. In Altoona, city of 140,-
600 people, there are over 10000
dopositors, with nearly $20,O00,000
to their credit.
Thia illustrates the extent and the
value of the service; but there is
great deal Of complaint from the ag-
rarisns that no provision is made by
the government for receiving the
savings Of the farming population,
and all agitation has been going on
for some years in favor of transfer
of the municipal system to the pos.
tai authorities and the adoption Of
something like the French System.
The Eolnische Zeitung of recent
date contained an interesting article
on this subject 10 which the advan-
tages of suoh transfer were set
forth at length and the necessity of
making provision for the farmers as
we'll as the mechanics in the cities
and the larger towns was demon
strated in forcible language.
"It cannot be denied" the writer
says. that hundreds OF thousands of
people in the empire would gladly
pay by part of their wages every
month if they were not prevented by
insufficient opportunities. n " ~
An imperial post savings system
would be of the greatest advantage,
particularly to the agricultural
CLASSES, for there is postoflice with
in convenient reach Of every farmer,
tho postal system is everywhere
trusted, and would not only furnish
q convenient opportunity for depos.
It's but an easy method OF pay.
ment"
The late Emperor Frederick was
graat believer in tho postal savings
bank system. and if he had lived 1t
is probable that it would have been
adopted in Germany long ago