Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-11-22
$4,000, Is the
Share of United States.
Total from 10000 Deposi
tors Shown.
comparison Of Other Countries Fig
ures With Ours.

formation received by the Department
OF Commerce and Labor through its
bureau of Statistics, amounted to 10l2
billion dollars, contributed by S2.64o,-
GOO depostors. OF this total the
United States shows aggregate de-
posts of s., 0fc 179, 900 credited to 7.30J.-
600 dcpositors. AS the figures used in
arriving at the grand totals cover
about one-half of the population of the
world. viz. over 710,0G0,0O0. it appears
that the United States. with less than
~ per cent. of the total population
considered, contributes over 20 per
cent. Of the total savings deposits re-
corded. OF the total number of de-
positors, or rather deposit accounts.
the share of the United States is some
what less than 8 per cent, while tho
average deposit per account is more
than four times and the average say
ings per inh;i bitant more than 81.
times the corresponding average for
the rest of the world.
1t is interesting to note that in
Europe and even in Canada the func-
lions of the government in this field
are larger than in this country, where
the state restricts itself merely to
formulating the general legislation
pertaining to the subject. sanctioning
special charters for the creation of
savings banks, and controlling through
special officers the proper workings of
sald banks The European govern
lnrEts in many cases have shown
greater interest in this mode Of popular
saving. either by guaranteeing the
safety of deposits or by instituting
government Institutions, chiefly postal
savings banks, for the receiving and
managing of savings deposits In
some countries. such as Russia. Bull
garia and ROumania the lack of
private initiative and the preponderat-
ing influence Of the state in the entire
economic life of the nation have
caused the development of public saw
ings banks to an almost exclusive eX-
tent: in other countries such as Ger
many. Switzerland and France. the
local public bodies such as the COM
munes or cantons. from the very outset
invited and fostered the deposits OF
small savings by csta blishing municipal
savings institutions. Wherever the CEN
trail government is in Immediate
though not exclusive charge of the say
do Belgium and Russia. parts of the
deposits are invested in government
securities. 50 that the public savings
institutions there serve the double pur
pose of providing safe investment
for the capital of the less well-to-do
and commerce ally inexperienced class
of the population. us we'll as of
strengthening the public credit Of the
country by attracting investments on
he part of such classes, which. left t"
their own initiative. might not choose
this. or for that matter any other mode
of investment.
The common feature of all savings
Tanks. no matter how organized. is
that they are not working for profit,
the underlying idea being rather to
make the deposits as secure as posi-
bic. This results naturally in an in
teGnst rate on deposits considerably
below the normal commercial rate pre-
yelling in the respective countries.
The figures as shown in the table below
reveal different degrees of what might
he termed the saving capacity of the
different nations, though it should al
ways be borne in mind that the
amounts deposited with savings banks
by no means represent the only savings
Of a nation. Another factor which
makes compariSonS difficult is the fact
that apart from differences in legisla
tion leaving to these institutions a
arcltcr or smaller latitude of freedom
of Investment. the regulations regard
ins tie maximum amounts which may
be credited 70 one individual vary ac-
tr.1- hl therefore
The average size Of the savings de-
post casts but little light on the gen-
crrl prosperity Of the people and the
more or less equitable distribution OF
wealth among them.
The general social conditions of cn'n-
Try. the spread of general education and
thanking habits among the masses AN-
istirG facilities of communication. me
case ard lack of fnl malities with whlch
savings are made and laSt but not least.
he use made by the population ol "tHef
modes Of saving-all these factors have 70
nc considered when international compaii-
sons of savings statistics are attempted
To give but few examples: me totiii
savings deposits of France. as stated m
the table below. appear less than those Oh
Aust ria while the aggregate savings ue
posits Of Prussia are shown to exceed
those Of France by almost eighty per
cent ANY conclusions with regard 70 tne
relative nrosre.ity Of tnrSs 81 ~"" arrone.
GUS as in France the savings banks de-
posts constitute but part ana by ~
means the larger part OF the totii saw
of tho nation. As a matter OF fact: the III
vestmcntS If the Frcnch people IN Rus
sian public bonds during the most rrcent |
period only. not to mention the n"iu'lSH
Of the enormous national debt ~ h"ine'
according to the most conservative eStl-
mates. exceed by far the amounts dePos
tied in national savings INSTITUTIONS ~
the case of Austria the figures gwen art
somewhat misleading. since the noS,al
savings banks there are enSased ~ ", ,n-
general banking business. the amounts
ported as ordinary deposits. eXceeulns
these reported under the head OF savings
deposits. :.ornre
with all these restrictions and lnIerp are
tatinn clauses the tigures. civ below e'', I "a
interesting as showing the wonderful rs
suits oitained in this field. through md
eenious organization on the one NAM ha h hitu
The spread Of thrift and saving hao''~
amcrg the large masses ,r tho
Ihe following tabe b rat,,an~ "P Received s
hv the Bureau of Statistics. SHOWS oMs ' III
rumber of depositors. total ano annormts