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SAVINGS-BANKS.
1035
The costs of administrating the savings-banks amounted in 1902 on
an average to 0*42 %, calculated in relation to the means deposited; in 1898
they amounted in the largest savings-banks (the last group above) to O as in
the smallest (the first group), to 0 6 9 %, and in the group with deposit-funds
between 50,000 and 100,000 kronor, to 0’61 %.
In regard to the rate of interest — which according to a closer investigation
as regards the year 1896 (a year that, with regard to interests, may be considered
more typical than any of the later years) varied between 3 and 31/* % on
deposit-accounts at six months’ notice in the private and in the joint-stock banks, — it
amounted, on a general average for the said year, in the savings-banks for the
same year, to 3’83 % (effectively 3’77 %), but with considerable differences between
banks of different sizes. In 64 savings-banks, whose average deposit-capital amounted
to about 2,300,000 kronor, the interest was % (the same as in the P. O.
savings-bank for the same year), in 207 savings-banks with an average capital
of about 800,000 kronor, it amounted to 4 %, and in 42 savings-banks, where
the average-deposit fund amounted to 330,000 kronor, an interest of 41/» % was
paid. — The fact that the smaller savings-banks, in spite of their relatively greater
expenses, can thus give their depositors a higher interest than the larger banks,
obviously stands in connection with the nature of their lending system, which, as
shown above, in a much more extensive degree than the lending in the larger
savings-banks, is based upou the more profitable surety-system.
In 1884, the Swedish Post office savings-bank was opened. This
institution, which through the post offices collects deposits and makes
payments (after notice being given), belongs to the State, which stands
surety for the means deposited in it; the administration is placed in
the hands of a Board of Directors, consisting of the Post Master General
(chairman), and four members, namely a Chief Secretary in the General
Board of P. O. Directors, who has in hand the matters concerning the
P. O. savings-bank, one member appointed by the King, a Commissioner
of the Bank of Sweden, and a Commissioner of the National Debt Office.
— The development of the P. 0. savings-bank is shown by the following
figures:
T„ Number of Number of Money deposited. _
In „æ,„„ __„„ v__,.„ „ 1 per pass-book, per inn.
offices. pass-books. Kronor. 1 Kronor. Kronor.
1884......... 1,575 79,513 827.641 1041 0i8
1890......... 1,942 237,060 13,016,554 54 91 2 72
1895 ......... 2.251 408.288 38.477,499 94 24 7 82
1900 ......... 2,652 566,805 56,461,391 99 61 10 99
1902 ......... 2,801 587.310 53,916,398 93 84 10 37
The most important purpose of our P. O. savings-bank, with respect
to the size of the sums deposited, is to compensate for the absence of
private savings-banks in the sparsely inhabited regions of the country,
where such savings-banks could not be opened. Thus, the greatest
amount of money deposited per inhabitant, at the end of 1902, was
in the Län of Vermland (28*34 kronor) and in that of Kopparberg
(17-64 kronor), while the lowest amounts were to be found in the Län of
Kristianstad (0-11 kronor) and that of Malmöhus (0-36 kronor). But owing
to the advantages which the P. 0. savings-bank offers — especially its
easy accessibility — it has, even in such places where plenty of private
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