The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1897-10-21
\ QUESTION OF THRIFT.

The Postmaster General of the
United States proposes to introduce
the postal savings bank system into
the Republic, and as we have the pos
tai savings bank system here, and find
it an advantageous plan, it is of in
terest to us to see that it is likely to
be continued after annexation takes
place.
One of the great objections to the
Postal Savings Bank system when it
was first established in Great Britain
was made by the private banks, who
feared that their business interests
would be affected, if not ruined, but
after fifteen years experiment it has
been found that the private banks
have increased their capital Slo,oc0,OOO
which etfectually disposes of that one
phase of the question.
As to the tendency of the savings
banks to encourage thrift, one has
only to look at list of the deposits
of the world, and the wonderful in
crease of some countries. In Canada,
for instance. in 1867. the deposits in
savings banks amounted to 81. ass, 900.
In 1897 the depositors in Canadian
postal savings banks have SOS, 1872 1929
to their credit. In France, in 1887,
the deposits were S51 10000. In the
present years the deposits amount to
$151, 601 ,7O5.
The increase of deposits in our own
country is very large. The report of
the Minister of Finance for 1895 gave
the amount of deposits as $59S,09S, and
in the present year Hawaii is credited,
in the official lists, with $96i.999,
which has probably, since the list was
made up, increased to 81 100000 This
increase, moreover, has taken place
during a period when there has been
considerable stock speculation and
much money is locked up in them.
This goes to prove that a certain sec
ton of the community is saving stead
lily and not specializing. This is a
considerable sum for the country to
have saved against a rainy day, and it
may be safely said that but for the fa-
cilities which the postal savings bank
system offers, there would be nothing
like this amount to the credit of small
depositors. The average to each de-
positor in the Hawaiian Islands is
high being very nearly $40 per head,
while in England the average balance
to each depositor is $40 per head.
The total deposits of the world in
postal savings banks amount to ST.
343, S23,202, and considering that nei-
Their Germany nor the United States
figures in that total, it is really very
striking one. This total, taken from
the otficffiial lists, is divided up as fol-
lows: Great Britain, 1894, $40;
Russia, $3.50, 45,677; France, $151, 691,-
705; Belgium, 1868, 693,274; Italy, $780,
722, 464; Canada, SOS, 1892 ,929; Holland,
$1S, $50; India, 1921 ,O23; New
South Wales, $2O,O5S, 800; New Zea-
land, SIS, 1913; Queensland, ,127,-
1924; Victoria, $15,223, 1922; Japan, $751;
O62 ,022; Straits Settlements, $24S, 499;
Bahamas, S41 ,s67; British Guiana,
$965,999; Ceylon, $2,035,s57; Cape of
Good Hope, $5.741, 52S; Falkland Is
lands, $167,4S2; Finland, $9,445, O57;
Hawaii, $965, 999; Hungary, $9,O63,2O
Sweden, $10,696, 725; Tasmania, $685.
625; Western Australia, $685.
The subject of savings banks is a
most interesting one, and shows man.
kind in its best light. 1t argues thrift
and care for the future, the deposits
mean self denial, and in a large num-
Der of cases, the bank accounts show
the first practical lessons in the care
of money inculcated upon the rising
generation.
The Introduction of the postal saw
ings bank system into the United
States will give an impetus to saving
which will have, undoubtedly, enor-
nous results. In large measure the
citizens of the States are thrifty, but
the postal savings bank catches those
who are not inclined to be thrifty, and
teaches them thrift. The number OF
Hawaiians upon our books is an adj
mirable case in point.
e IL,