Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-08-03
POSTAL SAVINGS BANKS.
How the Buslness is Rapidly Incrcas-
ing I'm England.

HOW the business Is Rapidly Incrcas-
ing I'm England.
William f. Curtis In Chicago Record
The English postal savings bank business
Is increasing more rapidly than any other
branch of the service. Its advantages are
so apparent, the good it has accomplished
is so universally recognized, it appeals so
directly and closely to the people, that
g. 453, 591, or about one-fifth of all the men
women and children in Great Britain and
Ireland. are depositors, and their savings
thus invested and drawing interest amount
ed on the last day of last year to f97 SOS. :
$50, or nearly sJU,OOO,OOO.
Last year there was deposited in the
postal savings banks f32,O7s.GGO. or nearly
$l6O,WOOOO, representing II ,3Si91 trans
actions, mostly by people who do not have
access to ordinary banks. The sum drawn
out during the year was Els, SOS, 296, or
about s1D.OO0.OO. in 4.1O2.O50 transactions.
The difference in the number of the de-
posts and the number of the Withdrawals
explains and illustrates the usefulness of
the system. 1t shows that 7,2S2, 91S more peo-
pie went to the postal savings banks to
leave money than to take it away, and
2'11 i3S of those who enjoy the advan-
tages afforded did not disturb their de-
posits. 1t also shows that the deposits
were OF small amounts, while the with
drawals were much larger-nearly three
times as large. This is explained by sew
eral postmasters In London and I'm the
country towns that l have visited and NV
the officials at headquarters by the same
reasons. They say that many of the with
drawals were due to the fact that the de-
posits had reached the maximum allowed
to any one person, which is Zoo or 81 600
and the depositors transferred the money
to permanent investments, either in real
estate or government bonds or shares i'm
corporations Many other Withdrawals
were due to the accomplishment of special
purposes of the depositors. Some of them
owed money coming due upon q certain
date-may be the interest upon a mort
30 =.
make purchases: a boy wanted a gun or
watch a girl wanted a pony, and all
these various classes and conditions So
licited mechanics and factory operatives.
In the manufacturing towns the largest de-
positors are workingmen's wives and in
the post offices at centers where there ia a
large population of this class it Is always
customary to send additional clerks to the
post office on the evening of pay day.
The number of new accounts opened last
year in the postal savings banks of Great
Britain was LIES, 236. which was an in
crease Of 1900 from the previous wear.
books surrendered was sos, 4O2 leaving a
net increase Of 344, 1874 in the number of
depositors for the year.
The daily average number of depositors
throughout the kingdom was 1854. as
against 20, S81 during the previous wear.
and the average aggregate daily deposit
was f1O4, 400. as against 600 475 for the pre-
vious year. The largest number of deposits
made on a single day was o. 761 on the
30th of December. and the largest amount
deposited on any day during the year was
$3.50. 49,, on the 31st Of December The
largest sum ever withdrawn from the