Table of the Aggregate Deposits of Savings Banks in Twelve States, with the Number of their Depositors and the Average Amount due to each in 1875 and 1876. [From the Report of the Comptroller of the Currency for 1876.] Since the panic of 1873, and the recent closing of many savings banks, an agitation in behalf of Government or Postal Savings institutions has sprung up. It is claimed that Postal Savings Banks, if established in all cities or large towns, would afford an entirely safe and convenient means of protecting the savings of the people, while yielding them sure and moderate interest; that the government may thus become the holder of a large and permanent loan at low interest, convenient to the public credit; that the losses flowing from careless, irresponsible, or dishonest private and corporate management would thus be avoided; and that habits of economy and thrift, as well as of attachment to the government and its solvency and permanence, would be largely promoted, were Postal Savings institutions to be established in the United States. On the other hand, it is urged by opponents of the scheme, that it is utterly beyond the legitimate sphere of a republican government with limited powers, if not directly unconstitutional; that it would make a banker of every postmaster, complicating the government business with the care of large funds, extending the field of temptation to dishonesty, and liable to produce a large crop of defalcations; that it would transgress the sound principle that the government should not interfere at any point in the domain of private business or corporate enterprise; that all of the advantages to the people, of security for their savings, with remunerative interest, could be better reached by an authorized issue of government bonds in small denominations, as low as $10 or even $5, bearing 3.65 or 4 per cent interest, thus bringing into the government coffers an enormous amount of the people's savings; and that the scheme of Postal or Government Savings Banks, while it might be justified in case of a paternal government, is out of place in a republic, and might lead to great abuses and corruptions. Various bills have been offered in Congress for the establishment of Postal Savings Institutions, and the plan was recommended by a former Postmaster-General. The present Secretary of the Treasury, in his Annual Report of December, 1877, recommended the plan only in a modified form, authorizing the deposit of small sums with any postal money-order office, and the issue therefor of Government certificates convertible into the 4 per cent bonds of the United States. BRITISH SAVINGS BANKS. CAPITAL OR DEPOSITS IN POST-OFFICE AND OTHER SAVINGS BANKS IN THE UNITED KINGDOM FOR 14 YEARS, 1863-1876. [From the (Official) Statistical Abstract of the United Kingdom, 1877.] NOTE. It will be seen that this form of investment for savings has by no means reached so extensive a development in Great Britain as in this country. Only about $351,000,000 of deposits in all the British Savings Banks, both postal and independent, are recorded, or an average of less than $12 per head of population; while in the United States, $893,000,000 are deposited at the Savings Banks of only 12 States, indicating an average of over $25 per head to the whole population. This may be partly accounted for by the stringent limitation of deposits in the English law to one person, while our States have few or no limitations of the amount of individual deposits. PRINCIPAL IMPORTS INTO THE UNITED STATES, WITH RATES OF DUTY THEREON.* Table showing Quantities, Values, Total Duties, Rates of Duty and Average Duty, ad valorem, on all imported Commodities paying $100,000 or upwards into the Treasury, in the year 1876. [Compiled from the Official Report on Commerce and Navigation of the U. S. for 1876.] Gilded, ornamented, or decorated in any manner.. "Other earthen, stone, or crockery ware, white, glazed, edged, printed, painted, or dipped, or cream colored.. Coal, bitumin. and shale.tons Corsets and corset-cloth, valued at $6 per dozen, or less. .dozen "val. over $6 per doz...doz. Cotton, manufactures of: Plain bleached, value 20 cents or less per square yard.. ...square yards 12,751,429 1,610,522 5% c. per sq.yd. "Printed or colored, value 25 cents or less per square yard.... .square yards "Hosiery. "Laces,cords, braids, gimps, warp-yarn not wound on 701,329 43.55 6,194,471 52c.per sq. 935,593 yd.&20p.c. 4,708,125 35 per cent. 858,655 56.88 1,647,880 35.00 ..lbs. *For greater condensation, fractions are omitted, and the figures are therefore approximate, except as to rates and percentages of duty, which are the figures of the Bureau of Statistics. PRINCIPAL IMPORTS INTO THE UNITED STATES, WITH RATES OF DUTY THEREON-(Continued). Figs.. lbs. Fire-crackers, in boxes of 40 packs, not exceeding 80 to Flax linens, valued at 30 "valued at above 30 cents 66 Thread, twine, and packthread.. "All other manufactures of 2,409,516 10 per cent. 240.952 10.00 421,756 35 per cent. 147,615 35.00 2,341,531 35 per cent. 819,536 35.00 449,107 35 per cent. 157,359 35.00 766,593 25 per cent. 191,649 25.03 1,229,648 50 per cent. 614,824 50.00 flax not otherwise provided for... Fruits and nuts: Almonds, not shelled .lbs. 2,288,041 283,828 6 c. per lb. 138,291 48.56 "Shelled. 10 c. per lb. 102,865 57.05 "Filberts and walnuts..lbs. 129,535 55.00 55,358,764 2,333,716 1 c. per lb. 553,588 23.72 "Raisins. .lbs. 32,241,065 2,424,277 22 c. per lb. 805,530 33.21 2,717,502 20 per cent. 545,619 20.00 Furs, and manufactures of.. Glass-ware Porcelain, Bohemian, cut, engraved, painted, colored, printed, stained, silvered, or gilded, not including plate-glass, silvered, or looking-glass plates... |