The Intermountain Catholic. (Salt Lake City [Utah] ;) 1899-1920, 1908-10-10
POSTAL SAVINGS.

People save as they have the opportunity and
the incentive. There's many a dime and MANY a
dollar that is spent something which the pur-
chaser does not need, which, if the purchaser had
the proper opportunity, he would deposit in some
savings bank and start himself on the road to in
dependence 1t was favorite axiom of our fa
theirs that the first 500 was the hardest 70 get.
In measure this is true, for it is the new habit
OF thrift that is harder to get started right than il
is to earn the money by work. Men who have Jobs.
young men especially, get into the habit of DEPEND
ing on the next pay day to furnish the money to pay
the expenses of the present week 1t is an EASY
habit to start, and harder one to break away
from. The full meaning of the old axiom. there
fore, is that it is harder to get in the habit of saw
ing than it is to save after the habit is once ae-
CURED
just what effect the Inauguration of a postal
savings system would have on the habits of the peo-
pie IS difficult to determine Perhaps the people
would not take any kindly to them than they
do to savings banks which pay small per cent of
interest on the deposits The people who have
made up their minds to save and do it systematica
ly have taken advantage of the opportunity of
fered by the savings banks, but those who should
follow the example of their frugal brothers would
probably not be attracted by the postal system of
savings. In order to show to what extent the saw.
ings banks of the country have been used by the
people, the figures presented at the convention of
the American Bankers association held at Denver
last week, may prove interesting Colonel F. Fl,
Fries president of the Wachovia Loan and Trust
of Winston-Salem. N. c.. made tho fol.
lowing statement:
1.-The savings bank deposits in the United States
aggregate S3,4SO,0OO,000 amount equal to one
third the savings bank deposits of the entire world
and the average deposit is so per cent larger than
IN any other country The deposits here average
SAL per capita of our population. against 81 per
capita in Canada and $23 in Great Britain
total deposit of nearly three and a half bill
ion dollars in the savings banks of the limited
states IS formidable array for the advocates of
he postal savings deposit scheme to overcome, but
he fact that the greater portion of this immense
um is deposited in the eastern and New England
tates leaves the west with very small proportion
# the funds. We have it on more or less reliable
authority that 70 per cent of this immense sum
s deposited in the New England states. New York
nd California, and the remaining q per cent is
catered over the rest of the country in very
mall percentages.
The only reasonable explanation for this dis
repancy in the percentage of savings of the peo-
lie is that the states that have the larger amounts
ave given the people chance to save in greater
roportion than the others have Surely if cannot
e that the people in New England, New York and
california are any different in their desires. OK
ept that they have been given the opportunity to
ave. The figures seem to Indicate that the hah-
s of thrift and saving are more a result of onnor
nifty or inducement than anything else. And the
'n'ention OF the advocates of the postal savings