The Republican. [volume] (Oakland, Md.) 1877-current, 1897-11-18
THRIET IN GERMANY.


the Faderland
In Germany the savings bank sys-
tenn is managed by the municipal gov
ernments, instead of the national au-
thorities, as in England, France, Bel
gium, Italy and other European coun-
tries The system dates back for near
| ly a century, and, with the exception
| of some unimportant details, is UNI
| form throughout the empire. German
| thrift is proverbial. There are no other
people in the world who can do without
| luxuries and things that they do not
! actually need with so great a degree
of contentment From the cradle the
| children are taught economy. 1t is as
much matter of education as the
catechism. In some of the schools the
children are instructed to gather during
their play hours, and on their way to
and from their homes, all such APP
parently yalueless objects as old bottles,
tin cans, refuse metals, etc, which are
sold to the junkshops and the proceeds
deposited to the credit of the child
in the nearest savings bank. The same
spirit that inspires this economy has
caused the number of depOsitors in
the savings banks of the empire to eN-
coed the number Of households. 1t is
often the case that every child and
every servant in a 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amounts to certain sum, is withdrawn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 Ger
many is three per cent, and, although
their management is intrustcd to the
municipalities, the banking inspectors
of the general government exercise
supervision over them. There IS usual-
" a general office. with 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 securities
of equal value. The latitude of invest
ment is much greater than is allowed
the postal savings banks authorities
: in England and France. The funds may
be invested in gilt-edged real estate
mortgages, and even in the erection OF
e buildings, but before this is done the
e proposition must be submitted to the
4 committee of the common council
+ which has jurisdiction over the saw
: ings banks. This committee, which is
e composed of practical fnanciers, bank
o ers, merchants and manufacturers and
2 men who are in the habit of handling
money, acts as a sort of board OF dl-
d rectors for the system.
q In Berlin there are 70 branch offices,
n with 1873, 900 depositors out of popula-
g ton of 100000, and the total deposits
" are little more than $I0,OOO000. In
e Dresden the savings banks show still
n larger utility in proportion to the pop
l. ulation Although the number of peo-
/ ple in Dresden is only about One-tifth
as many as in Berlin. there are half
n as many depositors in the savings
81 banks, and the deposits exceed So, OOO,-
e 600. In some of the other cities the
lie proportion is much larger. In the town
e. of Aix-la-Chapelle. for example, with
S. only 11O,4S9 population, there are over
ct 100 900 depositors. with credits of more
"a than S20.00O.OO0 In Altoona, a city of
d. $4,000 people, there are over 10000
to depostors, with nearly S2o000,O00 tc
IS their credit.
IN The late Emperor Frederick was {
N great believer in the postal savings
S bank system. and if he had lived it j:
H. probable that it would have been adopt
&c ed in Germany long ago.
~ In addition to the municipal savings
u institutions. there has been system
eS of private associations, known as TIL
&c Eberfeld banks, in southern Germany
- ,S-hi Hh mr.
le managed on plan very much like tina
of ordinary savings institutions in tn
United States. with some improvements
They are under the supervision of tn
~, government, and are inspected frOr
time to time by public officials. Their
il is generally central office, at whic
n deposits are received and checks ar
no paid. and branch offices at various cor
lis venent locations for the receipt Of de
he posits alone. The amount of deposit
SIX is limited by law to 5000 marks. Th
To- rate of interest is fixed annually o
M January / by the board of director
ed and formal advertisement is made c
re, that fact in the newspapers. At pre-:
ent it is three per cent. Under tn
rules of the bank not more than %
he marks can be checked out on any on
re- day. four weeks notice must be give
for the withdrawal of / 900 marks an
under. and six months notice of large
q. sums, although the board of director
can suspend this rule at their discr'
an ton.
ar The first bank of this kind was e
,k tablished in Frankfort in 1888, and du
| = n
ZEN positors. with credits amounting to Sc
he 934 marks At the Fast report there WEI
ler 56697 depositors out of population {
me 229 900, with credits amounting to Sc
of 215,69 marks.-ChicagO Record.
er, These Rules VIII Help Hotels.
on, Gentlemen will not occupy seats
he the dining-room without their coats.