The San Francisco call., 1905-03-05
SAVINGS DEPOSITS.

nUBLCSTS and economists statistics of savings
the condition of the industrial classes 1t
interesting plan savings sug
gsed Deoe author of Robinson Crusoe 1907
Hamburg I78 then by Oldenburg in $780, Loire
Basel in 1872, and Geneva in 1894.
Jeremy Benham revived Defoes suggestion Great Britain
just hundred years after made The Endorsement OF Ben
ta whose practical philosophy has impressed all OF the nations
that have legislative of laws sufficient to commend the
hafOrgotten plan of the author He called the system Fruga
Banks accordance with his ondness for coming 1t
IS to Benham that the words international uitar1an
and ~codifcaion" now in daily
The first of these Frugay Banks established at Wen
dover by the Rev. Joseph Smith They increased rapidly so that by
1917 attracted the attention OF Government and Parliament
provided savings banks might take
pay higher probable that Jeremy Ben
tams attracted to the suggestion OF Defoe by
his views the subject Of interest All interest in those
days called us and when Bentham wrote his Defense OF Us
he finally disposed of the objections moral the taking
Soon after the beginning of the nineteenth century there were
founded Great Britain penny banks which deposits of that
followed military naval and
system Germany France,
Italy Denmark the continent of
Europe and the British colonies
The conancy of employment and general industrial
thrift of country NAV be fairly Judged by the condition its
savings The table of reports from the whole world
So6oz zS6II
OF the whole The number Of deposiors all the Of the world
IS 75o390 and their average deposit IS Sill In the United
States o543 deposors have the savings banks de-
po OF S4Io each By this it would that industrial conditions
IN this country about ourtod better than IN the rest OF the
State nearly the savings
of Superintendent kburn which
banks large institutions be authorized by law establish branches
anywhere in the State This would put savings facilities localities
where they otherwise exist An independent bank of that
kind have sufficient deposits the OF its admna
and the going of interest depoto This de-
pe localities of independent savings facilities and the
people of prime inducement to thrift If the great banks
absh branches in such localities they become their Of
large administrative system and everywhere the
and promote thrift and economy among the people
Under system California great savings banks
San Francisco would be represented by branches large number
of localities and would receive for and large
aggregate of money that banked all and there
fore saved at all, for lack of facilities.
It is proposed also in New York abolish the the
plus Of savings banks This will the reduction of
and the payment of larger dividends deposors adding
thrift by the prospect of greater gains There is New
York State Savings Bank Association which all legislation af
those institutions referred The
cnch legislation the soundness the banks the safety
their security and the dividends they pay depositors
California well afford watch the of these propo-
sns the Empire State in the expectation that they produce
results that will justify their adoption here.