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162 facilities for saving, ami 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

In July, 1884, there were 343 savings-bank offices and 66,682 depositors. Of the depositors, 1,400, having 84,722,000 on deposit, were supposed to be farmers; 7,850, having 81,422,000, mechanics; 4,270, having 8724,000, laborers; 12,000, with 82,350,000 deposits, married women; and 10,500, with deposits amounting to 81,275,000, 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 provinces, communities, parishes, and their divisions, or are invested in fundable bonds or other securities. In France the proposal to establish 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 postal savings-banks to the credit of 374,970 depositors. The well known success of school savings-banks, which are 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 savings-banks were first opened January 12, 1883. Up to December 31,