The American issue. [volume] (Westerville, Ohio) 1912-19??, 1919-12-19
Savings Jump In Dry
Chicago, Banks Say
Increase of $20,ooo,ooo In Two
Months Shown by General
Statements
Chicago News)

would have done behind a pillow in the
fields of Bohemia-the woman with
! the striped shawl over her head who
stepped the other day into the Con-
tinental and Commercial Trust & Saw
ings bank. She made her way to the
receiving teller's window and from
the folds of her dress drew forth a
roll of bills. The entry was made in
her book and she disappeared quietly
through the door and into the throng
OF the passing street.
d. Z. Jones, assistant manager of
the. department, pointed her out to
visitor.
You would think OF her taking in
washing and spending her last penny
for milk for the babies" he said.
But as matter of fact, she has hun
dreds of dollars on deposit, and she
adds to it monthly. A year ago she
didn't have anything. Her husband
made it, but the saloon got it. Now
he's on the water wagon and the
family bank account is leaping up
with great speed
Great Increase in Savings
rs Prohibition really increasing the
amount of the peoples savings?" he
was asked.
without doubt" was the answer
There has been a tremendous squirt
over the amount of money being put
away in the bank, whether compared
with year ago, five years ago, or the
first half of this year. Industrial I'M
rest, strikes and other disturbing fac
tors seem to have no effect; funda-
mentally the country is sound, as is
reflected in the condition of the banks.
And one of the most encouraging fea.
lures of the latter is the phenomenal
increase in savings deposits.
at is constantly accelerating in
crease, too. Our increase OF savings
lately has been running around
$4,000 a day. Other banks are re-
porting similar conditions, as we
have been making an inquiry. We
attribute it largely to the closing of
many saloons, and the diminishing
business of the others because of the
shutoff of Intoxicating liquors. Part
of the money that used to go to the
saloons, Of course, is being spent for
shoes and clothing and food, finally
finding its way to the banks. But the
rest of it is going into savygs."
Mr.. Jones pointed out the different
types as the people came in and
formed the line at the receiving tcllers
window They were of Italian. Pol
ish, Russian, Jewish and South Slavic
types. and the amounts that many de-
posted were not small.
Bring Thrift From Old Country
"They know how to save" he said,
land, therefore, don't have to be edu-
Gated to thrift like our own people do.
Their greatest waste heretofore has
been in liquor but with most of that
gone, more of the family income is
turned over by the husbands to the
wives, and they are banking it. OF
course, part OF the increase of saw
ings must be attributed to the in
creased wages of tradesmen, and to
the deposting of liberty bond cou-
pons."
Mr.. Jones estimated that there had
been an increase of $30,000,000 in the
savings deposited in the various
banks in the city during the last six
months. Many accounts have been
opened by servant girls. The bank
maintains fingerprint service where
illiterate people may have more GER
tain identification than even the sig
nature affords.
Over at the Merchants Loan
Trust Company, similar situation
was found.
1--WE have had great increase II
both amounts of depoiits and number
OF depositors," said r. G. Gadsen,
manager of the savings department
September, October and November
each show 100 per cent increase over
year ago. Prohibition is a promi.
nent factor, along with higher wages
John w. Knight, assistant cashier
OF the Illinois Trust & Savings bank,
reported very satisfactory gains
A study of the last general bank
statement published shows that in the
period of Sept. II to Nov II, trihe
over two months, a gain in savings
deposits in both state and national
banks of $20,384,746 was registered
The First Trust & Savings bank
showed an increase of nearly $780,
900 and the Illinois Trust & Savings
bank of nearly $1,400,000.