Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1904-12-20
SAVINGS OF WORLD.
COMPARISONS OF SMALL DEPos-
ITS OF VARIOUS NATIONS.
pnited States Ranks First in Total
Amount, But Fifth in Number
Of Accounts-Is Richest Ma
Hon Of the Globs.

Neutrality-suspicious. one-dfth Of the
wealth Of the United States u repre-
scented by the deposits in the savings
banks and by the assets Of the life In
surance companies. The number Of
savings bank deposits and life insur-
ance policies is upward Of $4,000, 900.
Many persons are depositors in more
Than one savings bank and hold more
than one life insurance policy. But It
would probably not be far out of the
way to say that about 8.000,0 900 Of the
Inhabitants Of the United States, OF
one-tenth Of the population. thus own
pne-fifth Of the wealth Of the coun-
Try.
It has been customary to regard the
deposits in savings banks as one Of
the proofs Of q nations prosperity.
There are. however. two ways Of
looking at this subject The savings
bank statistics Of the world, Just is
sued by our department Of commerce.
are very suggestive. They show that
IN number Of deposit accounts the
United States stands nth in the list
oe the nations, but that in the total
amount Of deposits the United States
stands first.
Germany. which has the greatest
humber of depositors, is second In ag-
Gregate Of deposits. France, which Ia
second in number of depositors. IL
nth in aggregate Of deposits. Great
Britain stands third, both In number
of depositors and in total deposits.
japan, which stands high in number
Of depositors. is very low in aggre-
gate deposits. Austria, which IL away
below France In number Of depositors.
stands above her in aggregate Of de-
posits.
What nation saves constitutes the
nations capital, and provided that
saving is not carried to the point
where 1t becomes q defect, reducing
a nations courage, initiative and en-
terprise and creating race of misers.
1t is in a true sense q source of ma
uonal strength. But while it Is good
to save, it Is better to be able to in
vest ones savings wisely SO as to pro-
duce the largest amount Of income
from them. and at the same time pro-
mote in the highest degree the enter
prise and general well-being Of the
country.
France is one Of the richest coun-
tries in the world, and her financial
power is enormous on account Of the
frugality and aggregated savings Of
her people, and yet the amount Of her
deposits in savings banks are even
less than those Of Austria, and COM
pare with the United States as 8 to 80.
But the people Of France are class
OF small investors In securities, and
while they have at times suffered So
verely by reason Of their misplaced
confidence in certain investments.
there can be no doubt that on tho
whole the people of France are better
on on account of their habit Of In
vesting directly in the securities Of
the nation or Of the corporations,
rather than by being indirect invest
ors by depositing their savings In saw
ings banks.
The United States has become the
richest nation of the globe, and in the
general prosperity Of her people she
also stands first. 1t would be, how
ever, going much too far to assert
that she Is rich and prosperous be-
cause of her deposits In savings banks.
It would be much more proper to say
that her deposits in savings banks are
large because she is rich and prosper
GUS. It is possible that the country
would be greatly benefited by the ex-
tension of the investment spirit
throughout our people. BY this ID
meant that, II larger proportion Of
our wage-earners should learn to
make Intelligent investments Of their
savings in securities. this would tend
10 distribute more widely through the
people the ownership of the great pro
ducing and distributing agencies Of
the country. and to . large degree
bring these agencies under the more
| direct control Of the people.
PROPHECIES MADE HIM MAD