Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-05-24

tors the intricacies of the routine
that enables private banks to obtain the very funds
that their would not inrust to them directly
SOME strange and intensely human facts hide behind
the prosaic operation of the system. Many
odd that am few persons realize just what Uncle
Sam, Banker, has found out in his role On last
January there about 375 900 depositors against
1900 at the end of the first six months On the latter
date the total of deposits slightly less than 500 OO
today it exceeds S4OOOOOOO. One-sixth of the total
amount on deposit is held in three Offices York.
Chicago, and Brooklyn,-the other fve-sixths being
distributed in 600 other repositories
The big cities lead in number of depostors as well
as IN amounts deposit; yet towns almost unknown
to students of geography show the highest average of
individual deposits New York City, first in rank,
showed at the end of the last fiscal year average deposits
of only $685. while the highest shown by Roslyn,
Washington, fortythrd in rank with $271. The lowest
average credited Providence Rhode Island with
$685. while Philadelphia and Newark were the next
lowest, each with $685. Brooklyn also near the bot
tom of the list, with ST. The mining districts have
medium averages; Gold6eld, Nevada, showing s175.
and Anaconda, Montana, $177. The same may be said
of agricultural centers.
The fact that cities show more depostors and higher
total deposits than smaller proves conclusively
that the money Entrusted to the government money
that did not appear, unless in negligible quantity, in
bank balances prior to 1911.
By States New York is in the lead; and, although
place to Ohio, whose ranking city is Cincinnati eighth
in the list.
DECULIAR is the attitude of many depositors with
regard to bank failures. The 1aboring mans lack of
familiarity with banks naturally him dstrust
them but in a similar feeling has been dis
covered where the banks cater only to intelligent
class of clients, most of them professional and
government clerks, thereby showing that the impulse
to trust the government" is always explanabe on
the plea of ignorance.
This was learned during Washington bank,
in the shadow of the Postofice Department. last No
venber The situation did not warrant any apprehen-
sion on the part of depostors many of whom
versant with the exact state of affairs yet 147 postal
deposit accounts were opened in five days, $4,000
being received while $24 900 had to be rejected because
of the restrictions whose existence, by the way,
unknown to government employees earning salaries of
between 81 600 and 81 300.
After the First National Bank of Pittsburgh was
closed last year many depostors wanted to leave large
sums with the postmaster of that city. These
ranged from 81 900 to $1,000. While no record was
kept of the offered and refused the aggregate
in excess of 100000. Despite the limitations the
deposits in Pittsburgh increased than $25OOOO
the four months olo ing the failure, and the postmas
ter stated in his report that but for the limit his
Office would have taken in 100000 in six months as
against the total then record of $500 O0 Ironwood
Michigan, with about IL 600 population, was made
savings depository in May, 1911. bank failure
occurred there year afterward. The postal savings
at 1ronwood now aggregate about $4,000, than
many cities of ten times the population accumulate
One poor fellow discovered the disadvantage of linn
tied protection only few weeks ago. He brought $500
to deposit with the Washington postmaster. He de-
posted the 500 receivable under the present regula
tons and carried the other $500 his person short
time latter he robbed of the latter Another
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