The silver messenger. (Challis, Idaho) 1890-1912, 1897-10-19

w lllldiu ~ OdlUiS Virtues 1IOul
Berlin to the Chicago Record
that in Germany the savings
banks system is managed by the
municipal government, instead
of the national authorities, as in
England, France, Belgium, Italy
and other European countries.
The system dates back for near
ly q century and, with the excep-
ton of some unimportant details,
is uniform throughout the en-
pire. German thrift is proyerb-
ial. There are no other people
in the world who can do without
Injuries and things that they do
not actually need with so great
degree of contentment. From
the cradle the children are taught
economy. 1t is as much a matter
of education as the catechism.
In some of the schools the child
rem are instructed to gather dur
ing their play hours and on their
way to and from their homes all
such apparently valueless OBJ
jects as old bottles, tin cans, re-
fuse metals, etc., which are sold
to the junkshops and the pro-
ceeds deposited to the credit of
the child in the nearest savings
bank. The same spirit that in
spires this economy has caused
the number of depositors in the
savings banks of the empire to
exceed the number of households.
1t is often the case that every
child and every servant in
family has his own account at
the bank, which, when it amounts
to certain sum, is withdrawn
for permanent investment.
The usual rate of interest paid
by the municipal savings banks
in Germany is 8 per cent. and,
although their management is
entrusted to the municipalities,
the banking inspectors to the
general government exercise a
supervision over them. There
is usually a general Office, with a
director in chief at the city hall,
whose principal duty is to receive
remittances from branch offices
that are established in every
ward, These funds he invests
In government bonds or in secur.
lties OF equal value. The latitude
OF Investment is much greater
than is allowed the postal saw
lngs bank authorities in England
and France. The funds may be
invested in gilt-edge real estate
mortgages and even in the cree
ton of buildings, but before this
is done the proposition must be
submitted to the committee of
the common council which has
jurisdiction over the savings
banks. This committee, which
is composed of practical fnan-
ciers, bankers, merchants end
manufacturers and men who are
in the habit of handling money,
act as sort of board of directors
for the system.
In Berlin there are seventy.
nine brach offices with 483. 900
depositors out of population of
10000 and the total deposits
are a little more than $40, 900, 900. |
In Dresden the savings banks
show still larger utility in pro-
portion to the population. AL
though the number of people in
Dresden is only about one-fifth
as many as in Berlin there are
half as many depositors in the
savings banks and the deposits
exceed 500, 100000 In some of
the other cities the proportion is
much larger. In the town of
Aix'la'Ghapelle, for example.
only no. population, there
are over l06, 900 depositops, with
credits of more than $50, 1000, 900.
in Altoona, q city Of 149, 900 PEG
pie, there arc over 10000 de-
positors, with nearly $50, 600, 900
20 their credit.
This illustrates the extent and