New-York tribune., 1900-10-29

teal banker himself, and has been the head Of
| the Banking Department of the Empire State
through the administrations of both Governors
| Black and Roosevelt. The statement follows:
No better index 10 the country's prosperity or
business depression be had than the statistics
furnished by our savings banks While they may
not mark with exactness the percentage of indus
tries that active of labor that is employed
they do indicate with Unerring certainty in which
direction the current sets and with what force it
verihes this conclusion to which logic points The
savings banks being distinctively the repositories
of the helpless and of the frugal poor the greater
portion their deposits consists of funds of wild
oHs and orphans and of the savings of wage
earners. The former do not huctuate largely whne.
the latter variable times are hard" or
good" Therefore. the gain loss, or the rate of
gsin in deposits reflects accurately Iabors condi-
ton from year to year, and since capital and labor
are interdependent prospering or sharing distress
together. it measures also the trend of business
in general.
A striking illustration is afforded by the figures
returned by the savings banks in the State Of New
York for 1892 and 1893. During the former year,
which Is generally regarded one of the most
prosperous known in the United States, the
deposits increased, in round numbers, 81, 900 600
In 1898 the year when the last Democratic National
Administration began and labor walked the streets
in idleness and misery, only did depostors draw
out all the dividends apportioned to them but also
S2 80 600 of their principal Again. all commercial
and industrial statistics unite in demonstrating
the year 1899 to have been the greatest in volume
Of business and manufacturing output in his
tory, and the reports OF the savings banks CORE
spond by showing the unparalleled increase in de-
posits OF S7100O 900, which is at the rate of
nearly s2500OO for every working day in the year.
A comparison Of three years under President Nc
Kinley with the four years Of President Cleve-
lands Administration is Interesting suggestive.
In the latter period the savings banks deposits in
New-York increased by $ss,s18 615, an average of
s22,204654 a year. During the first three years
Of President McKinleys Administration the gain
1853 303.751, an average of $5s 4S4 $50 per
which is more than twice and a half the
that obtained while Mr.. Cleveland was Presi-
If considered in connection with those shown dur
ing the Democratic Administration running from
1885 to 1889. Then the gain in desposits for four
years was only $3.50 ,Oo0 whereas during the
suing four years. under President Harrison. they
bounded to slO55O0,000 A contrast by the number
OF deposits carries a similar significance. During
President Cleveland's first term such increase was
1868; under President Harrison 30952; during
President Cevelands second Administration 143 164
and in three years under President Mckinley 244 03.
On July l. 1900 the total resources of the savings
banks Of NewYork exceeded 81 900 900 900, and the
number Of accounts was above two million! The
total gain in resources since President McKinleys
election has been s25 O00 and the increase in
the number Of accounts nearly three hundred thou
sand. The following table shows the resources of
the State savings banks, the due depositors
and the number of accounts on January l the
last eight years: