Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-11-03
AvINGs BANK BALANCES IN BELGIUM

These figures AFFORD interesting evidence
OF the growing use Of the savings system
by the masses, whose small savings have
steadily reduced to a lower level the aver
age amount deposited per head, while the
gross deposits were greatly increasing
From 1880 to 1898 the number of depositors
multiplied by more than seven and the
amount Of deposits by more than four.
In Prussia and Russia.
In Prussia the close of the year 1898
found 4,279 savings deposit offices opera
carrying accounts to the number of $685.
500 and deposits amounting to 5.2S7 rs o57
marks 81 ,255 600 600. This affords an aver
age of more than $50 to each depositor and
an average of $40 Q60 10 marks per capita
for the entire population Of the Prussan
monarchy. Some of the deposits in Prussia
reach rather large average and Indicate
that the savings banks are used by small
capitalists, but the increase in the number
of the latter throws peculiar light on the
contention that trust consultations are d.
minishing the savings Of the masses. The
deposits in the Prussian savings banks at
the close of 1873 were only 1,9IO,2O,OOO
marks. but reached almost double this
amount in ten years. and at the close OF
1898 were almost exactly double the amount
at the close Of 1877, eleven years before
The Russian government began prepare
lions in 1895 to faSten the gold standard
firmly upon the country, with the view OF
attracting foreign capital for the develop
ment of Russian manufacturing enterprises.
The balances In the Russian banks due de-
positors were only 9,054. GAS roubles G4.6O0,-
0OO) in 1890 They rose In 1890 to 147 .o42 sol
rubles; in 1895 to 377, 165. 3o2 rubles. and az
the end of August, 1898, to $4,000 ru-
bles (s26O 100000, distributed among 2,675,-
$50 separate accounts. The latest available
returns for February ], 1900, showed de-
posts of GA 100000 rubles s320,0OO,0oW
standing to the credit Of 3,172,S5S accounts.
Thus. within ten years the deposits have
increased more than four times, under the
resolute policy of the celebrated finance
minister. NJ. de White. in making gold the
sole standard, accommodating gold fund of
$3.50, 100000 in the treasury and the 1mpe-
rial Bank, and forcing the yellow metal
into circulation to the amount of several
hundred million rubles
In Face of Mr.. Bryan's Warning.
The same perversity of the workingman
in piling up deposits in the face of Mr..
Bryan's warnings has been shown In the
savings systems of Austro- Hungary. Prep
arations were begun there in 1892 for the
restoration of gold payments, which have
not yet wholly succeeded, with the result
that progress in that country has hardly
kept pace with that of other gold STANDARD
countries. There has been a growth, how
ever in savings deposits of a little less
than 100 per cent between 1880 and 1880.
and a growth of about 30 per cent from
1880 to 1896 The amount on deposit in the
private savings banks at the close of 1870
VI
amounted to 80 forms per account. The
deposits had risen in 1880 to IA, So, 457
f1crins and the amount per account to 40
forms. There further increase to
l. 49, 767 600 forms in 1890 and to 1.659, ST.
600 forms $3.50 O00OOO) in 1896, when the
deposits averaged J63 forms to each ao-
count
Thus. in all the principal gold standard
countries, the alleged conspiracy against
the human race to increase the wealth q
the rich and diminish the proportion of the
poor has worked In the opposite direction.
1t has tended steadily to elevate from the
ran INKS of the poor into those of the well-to-
do classes hundreds of thousands of indus
tricus laborers, to multiply many times the
number of persons able to keep a bank
account, and to create in their behalf and
for their use a fund of saved capital which
has never been equaled IN the history of the
world CHARLES A. CONANT.