The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1920-10-14
S. c. BANK DEPOSITS INCREASE.
$39, 100000 More in Banks Than One
Year Ago.-Savings Go Up.

| the growth Of savings deposits in the
same period was more than $26, 600,
900, and there are today between 25,
| 900 and $4,000 more individual de-
| pOsitors in savings accounts than eV
er before-these figures being com
piled from a report just issued by the
war loan organization of the fifth fed
eral reserve district from information
furnished by the banks, by the state
bank examiner, and by the controller
of the currency in Washington.
T Total savings in South Carolina
banks are put at sS7,O00,000 in
round numbers, having increased in
the fiscal year ending June 80, 1920
from 100000. There are listed
in the banks of this state more than
$4,000 separate savings accounts.
At the beginning Of the fiscal year
the number was about 130, 1000 for the
322 financial institutions in this state
which reported to the war loan Or
ganization.
In this federal reserve district
comprising Maryland, the District
of Columbia, the two Virginias and
the two Carolinas) there are 2,224
banks and trust companies. The l.
700 banks reporting showed that their
total deposits increased from $1,227,-
100000 to more than s1,546, 100000
an increase of about s209,000,000.
Savings deposits the
thrift of the people grew from
100000 to s670,0O0,00O-an
increase of s1O5, 100000. Putting
the population of the district as not
exceeding 100000 persons, the fig
ures show per capita of about SCI
for every man, woman and child, and
an average Of two savings accounts
for every eleven persons.
The steady growth in savings and
the increase in the number of savings
accounts are considered wholesome
signs that the tiday wave Of waste
full spending and attendant high pric-
es which has swept across the country
soon may be checked. They seem to
indicate, students of finance and eco
nomics believe, tendency toward in
creased production, growing deter
mination to cut down useless expen-
ditures and an earnest realization
that money must be saved for future
needs and for wise investment if new
wealth is to be created and if the
business of the country is to be re-
turned to normal conditions and plac-
ed upon sound basis.
Figures furnished the war loan Or
ganization by the controller of the
currency and by James H. Craig, state
bank examiner, show the remarkable
growth of the national banks and the
state banks and trust companies in
South Carolina. The national banks
in the Palmetto state early in the
year reported total deposits exceed
ing s1O6,573,O0O, while their savings
deposits, exceeded S44,079,000. In
the fifth federal reserve district the
total deposits in round numbers were
given as 100000.
For the South Carolina state bank
institutions-tho operating under
state charters-compara figures
are given for the last two fiscal years.
The total amount on deposit in these
institutions Increased in that period
from S101,39S,00O to s144,335, 900
"a gain of s42,000,00O. In the
same period the savings increased
s24,164,0OO, that is from s46,56S,00
in 1919 to s70,732,O00 in 1920.
From the state bank examiners and
commissioners in the other states
comprising the district the district
figures for the state banks and trust
companies, exclusive of those of
Washington, D. c., are given as fol-
lows: Total deposits, $S19,023,0O0
for 1919; s997,493,O00 for 1920, or
an increase of $17S,264,000. Saw.
ings deposits (West Virginia's 1919
total being estimated)-s374,05S,-
900 for 1919 and 65,948,000 for
1920, or a gain of more than $780,
100000.
The report from Washington being
furnished by the chamber of COM
merce, gives the totals by calendar
years and not by fiscal years. The
figures show gain in total deposits
of more than s12,767,0OO and an in
crease in the deposits Of those banks
doing strictly a savings business.
This money accumulated in South