El Paso herald. (El Paso, Tex.) 1901-1931, 1910-12-19
POSTAL SAVINGS BANKS Of THE
WORLD; FACTS GATHERED BY j. s.

Washington. D. c., Dec 19.-The
! United States has been the last nation
of importance to establish postal saw
ings banks. Practically every other
nation has them in successful opera
ton now.
One of the latest publications Of the
National monetary commission. entitled
Notes on the Postal Savings Bank
Systems of the Leading Countries
shows the growth and development Of
postal savings banks in every quarter
of the earth. from the beginning in
the United Kingdom in 1851 to the
present time, when the system has been
extended not only through the CONT
nent of Europe, but to the colonies
even in Tasmania. the federated Ma
lay states. and southern Nigeria.
While the United States is this year
preparing for beginning with "A
RIGA has 100000 in deposits; TunLs
has more than $1,000. 600: the Dutch
East Indies have $4,000, 600; Formosa,
under Japanese rule. has nearly $1,000,
900, and Egypt has nearly $4,000, 900.
In continental Europe and in great
err nations the system is much more
extensive In France there are more
than 5000. 900 tepositors, with average
deposits of s56. italy has 100000 also.
with an average deposit of SIS. Bel
GUM has 100000. with an average
OF s63, and Russia has 100000, with
an average of s72. Japan, which pays
the highest interest of all. has 100000
depositors, with deposits of s46.O00.00O.
but the average deposit is lowest Of
ALL only about So.
England and Canada.
The United Kingdom was the pioneer.
having established her system in 1851.
This postal savings bank system has
grown steadily, until in 1908 there were
over II, 100000 depositors, with depos-
its Of s7s1,794.5S3. For the whole
period from 1861 to 1908 ,'the actual
surplus profits covered into the treas
ury amount to Silica However,
since 1902 there has been an annual
average deficit of about s50O.O '"The
cause for this is found in the reduc-
ton of interest from "a to 21s per-
cent on British consols. in which the
funds are chiefly invested
Canada has had postal savings banks
since 1868. Originally IL was provided
that the deposits should be invested in
Dominion securities, but in 1875 this
law was repealed and deposits are now
handed over to the receiver general,
and WltndraWals are PAID Dy nlIil- 1IllS
creates a ''f1oating'' Indebtedness OF
approximately SAT 100000, payable on
demand" The interest paid was or
iginally 4 percent, but it was reduced
TO y percent in 1889 and to percent
in 1897. The number of depositors in
1896 was but 80 for each 1000 popula-
ton, while the United Kingdom had
more than 200 for each 1000. How
ever. the average deposits are about
$500 in Canada, while they are only
SIS in the United Kingdom.
France.
Postal savings banks in France date
from 1882. Mr.. Cookery the under sec
rotary OF state. in advocating the es-
adjustment of a postal savings sys-
tenn, said: 1.-The state has to achieve
what cannot be done by private initia
tive. When private enterprise can at
tain its object the state must disap-
pear, but when private initiative Is
powerless it is the duty of the state to
lend its assistance. 1t is because the
private savings banks can not meet