Weekly Arizona journal-miner., 1907-07-31
SAVINGS OF THE PEOPLE.


 Judged by the steady increase in tho deposits of money, that represent tho surplus of the many, prosperity is nov ing along as usual. The savings of tho. people are piling up at n rate never exceeded. X bank on the East Side of New York City reports that it's de- posits have reached $l00,0O0, 900 for the first time, and these credits are held by l5l,000 persons The average deposit Is $662, and by law, no one may rc- ceive interest on more than 5000 in posits for several years have been growing at the rate of $6,000,000 a year, and the gain was as great as ever during the last six months. An other savings bank in the same city reports deposits exceeding $9l 100000, owned by 5000 new depositors, since January l, last. On of Philadelphia savings banks has deposits of moro than $sO,0OO,OOO. But this condition is not peculiar to the east. It Is general throughout the country. In all the, banks of Texas, deposits have passed $5O0,000, largely composed of small savings. During the last ten years, or since industrial con litions improved, with n certain demand for labor at good wages, an increase has been noted in savings deposits everywhere in the. United States.
 The habit of saving Is of great m. tional import, and it is gratifying to find it SO widely established in this country. If each inhabitant savcl Al . month the sum would be $s5,OOO,O0 at the eni of each thirty days, or tl,. 020, 100000 year. A saving of even one dime a month by each American would produce more than tl00, 900 year. In France it Is small savings. that enable the people to loan vast sums to foreign countries and enter prises. Russia turned to France for borrowed billions. Japan is going there for it's latest loans. At the end Of the war with Germany, the thrifty French paid at once, in cash, the a.. 00o,o00,0o0 indemnity imposed. Say ing is SO universal in France that child there acquires the habit as easily as if it were part of natures en- vironment. Forty millions of saving people make a strong combination. Tho population of France may be station sry in census count of men, women and children, but when all are trainel in practical economy they stand at the front in material well being, aud in that prudent provision of money for the future for which no substitute is known when unexpected difficulties come.
 As long as this reserve of ready cash belonging to tbe multitude con.
 tiDues to grow, prosperity will abide in the land, for general savings are another name for abundant employ ment with good pay. Wall street may
 make wry faces over the investi gstion
 of some corporate methods, promoters
 of crop sensations may exert them. selves to the utmost, and jingoes may
 prsnce to break down speculative prices, but n nation of busy workers can feel that all is we'll as long ns z their labor Is wanted and affords n re. turn with an encouraging margin for savings. Much money is withdrawn !, from the savings banks from timc io time to go into real estate, but there 2 never was n period when depositors } were so little disposed ,o try plugging or go into getrich.quiek schemes. Good times are still here, and the people 7 can do much at the ballot box nex,
 year to maintain them indefinitely.