[Footnote 1: See Vol. I, chs. 9 and 10.]
[Footnote 2: See Vol. I, pp. 285-290 for the analysis of saving from the individual standpoint; and pp. 482-499 for its relation to general economic conditions.]
[Footnote 3: See Vol. I, p. 484.]
[Footnote 4: See above, ch. 9, sec. 7.]
[Footnote 5: E.g., Babson Statistical Organization, Brookmire Economic
Service, Moody Manual Co., Moody Corporation Service.]
[Footnote 6: See Vol. I, p. 318.]
[Footnote 7: Report of the Comptroller of the Currency. Not all of these are mutual. Statistics, moreover, include in some cases (e.g., California) the savings deposits of commercial banks but not the number of such banks, and in other cases (Michigan) some banks that do chiefly a commercial business. The line of demarcation between savings banks and savings departments of commercial banks cannot be sharply drawn. The Comptroller of the Currency reported in 1914 in a different form the amount of savings deposits and of time certificates of deposits in all kinds of banks as the enormous sum of $8,675,000,000.]
[Footnote 8: In the last twenty-three years, on the average, seven savings banks a year have failed, the annual excess of liabilities over assets being about $200,000, or about $30,000 for each failing bank. The total loss has been about 1/5 of 1 per cent of total deposits.]
[Footnote 9: The Federal Reserve Act, by making it possible for loans to be had at any time (through member banks) on good security, should reduce the danger of runs on savings banks.]
[Footnote 10: The author saw in operation a new machine of this kind which had been installed in a German public school as early as 1910.]