The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-10-15

Curious Deductions From the Statistics OF
the Savings Banks.

Some preconceved notions as to the saving
qualities OF men and women OF various nation
alties have been rudely attacked In official figures
which have recently appeared in England show
ing the average Of Post Office Saving Bank de.
posits TO be Els In Scotland TO SIG in England and
G2l in Ireland Heretofore it has been popularity
supposed that 'cGnny Scotchmen" displayed
many more Of the qualities Of thrift than their
more easy going English brethren, and decidedly
more than the happy go lucky Irishmcn, whose
lack Of frugality is often cited as barrier to Ire
lands commercial success. The fact however
is that many deeply rooted notions as TO economy
and savings are overthrown by the banking fig
ures Of various countries.
Tho present deposits in savings banks in
this country average S27 per capita, against
s24 in 1890, SIC in 1880, Sl4 in 1876 SIS in 1860
and less than So in 1850 This compares very
favorably with other countries as TO amount
OF deposits per capita but in some countries the
number OF accounts in savings banks for each
1000 Of population is greater than il is here
where the opportunities for investment in business
is better and the bond and mortgage system Of
loans on real estate has been more comprehen-
siyely developed. These are the number of say
ings bank accounts for each 1000 in the countries
named; Denmark 45i, Switzerland 500 France
235, Germany 200, Great Britain 200, Belgium
1870, Holland 1876 and Italy 1850
In New York city, Italians are remarkably
well represented among the savings bank de
poSitOrS when the poverty Of new immigrants
is considered, and the poor pay earned by many
Italian newcomers is taken into account. Ahead
Of the Italians as savings bank depositors are
the Germans, whose habits of frugality lead
them To maintain in many cases not only one
but several bank accounts, the distribution of
savings among several being due to two causes
extra security and the fact that above a certain
amount Of deposits, New York banks pay less
rate Of interest by distributing the money
i'll several banks it is therefore possible to get
a higher rate OF interest than would be the case
il the whole sum was in any one bank.
Three of the largest Of the savings banks Of
New York are known respectively as the German
Bank, the Italian Bank and the Irish Bank The
German bank -such is not its corporate name
had by its last statement deposits 10 the amount
Of S5S 900 600 and surplus Of 81, 600. 900 there
being in it 10000 open, accounts The Italian
a surplus Of Sc, 900 900. and 125, 900 deposltors
surplus Of $4,000, 900 and 49, 900 depositors
These figures give q very fair idea OF the saving
qualities Of members Of the various nationalities
in New York, the number Of individual dcpositors
casually for small amOunts) being largest among
the Italians, and the number OF large accounts
among the Irish dcpositors being the feature
of such figures.
There are Of course. American depositors
in great number in all OF the banks Of this city
and elsewhere throughout the country. but as
a general rule the popularity Of savings banks
ms a means OF investment for surplus savings
Is less marked among native Americans than
among foreign born citizens those whose pal
entS were born abroad