i62 THE POPULAR SCIENCE MONTHLY. 



lent facilities for saving, and have exerted a most beneficial influence 

 in promoting habits of economy and thrift. 



The English colonies, seeing the good results of the system that 

 has been described, have established postal savings-banks of a similar 

 character. A higher rate of interest is paid — commonly four per cent 

 — and larger sums are taken from single depositors. The Canadian 

 system, which went into operation in 1868, did not make rapid progress 

 for a time, on account of the good institutions already in existence and 

 the small number of offices of deposit. Greater progress has been 

 made recently. The deposits in 



June, 1880, amounted to $3,940,000 ; 



" 1881, " " 6,208,000; 



" 1882, " " 9,474,000; 



" 1883, " " 11,976,000; 



" 1884, " " 13,245,000. 



In July, 1884, there were 343 savings-bank offices and 66,682 de- 

 positors. Of the depositors, 1,400, having 84,722,000 on deposit, were 

 supposed to be farmers ; 7,850, having $1,422,000, mechanics ; 4,270, 

 having 8724,000, laborers ; 12,000, with 82,350,000 deposits, married 

 women ; and 10,500, with deposits amounting to $1,275,000, single 

 women. The accounts are all kept at the head office in Ottawa, to 

 which each postmaster makes daily reports, and from which receipts 

 are sent to every depositor for every deposit that he makes. Although 

 the amounts received have in the aggregate been large, the losses 

 through frauds have been very small. 



Influenced by the success of the English system of postal savings- 

 banks, the governments on the Continent of Europe have now nearly 

 all made similar provisions for the investment of the surplus earnings 

 of the people. The Italian system of postal savings-banks went into 

 operation February 29, 1876. A year ago all the post-offices, except 

 ten, were open as savings-banks. The interest paid is three and half 

 per cent. In 1883 there were 1,305,743 deposits made, amounting to 

 105,582,729.55 lire. These savings-bank funds are loaned to prov- 

 inces, communities, parishes, and their divisions, or are invested in 

 fundable bonds or other securities. In France the proposal to estab- 

 lish postal savings-banks was frequently discussed, but not adopted 

 until March, 1881, although the ordinary savings-banks had for several 

 years been allowed to use the post-offices as places for the receipt and 

 repayment of deposits. On December 31, 1883, there were 77,430,000 

 francs on deposit in the French ])0stal savings-banks to the credit of 

 374,970 depositors. The well known success of school savings-banks, 

 which arc now or will shortly be established in all the schools of 

 France, and the economical and thrifty habits of the French peasantry, 

 would seem to indicate a demand for good and generally accessible 

 facilities for the secure keeping of savings. The Austrian postal sav- 

 ings-banks were first opened January 12, 1883. Up to December 81, 



