Full resolution (JPEG) - On this page / på denna sida - XI. Banking, Credit, and Insurance - 4. Savings-Banks and Similar Institutions. By [I. Flodström] Alfhild Lamm
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savings-banks and similar institutions.
681
In 1884 the Post-Office Savings-Bank was founded. This
institution, which receives deposits and makes payment (after due notice) through
the Post Office, belongs to the State, which has entered into a
guarantee for the security of the money deposited in it. The administration of
the Post-Office Savings-Bank is in the hands of a Board composed of the
Postmaster-General, in the capacity of Chairman, and four members:
notably one Bureau Chief in the Post Office Board, who is told off as adviser
in savings-bank matters, one member nominated by the King, one of the
Commissioners (directors) of the Bank of Sweden, and one of the National
Debt Board. — The progress of the Post-Office Savings-Bank system is
exhibited by the following figures, giving the averages for some years:
Year Number of Offices Number o Pass-books Depositors’ Balance, kronor Average per
Passbook balance, kr.: per Head of pop.
1884 . . 1575 79 513 827 641 10-41 0-18
1890 . . 1942 237 060 13 016 554 54-91 2-72
1900 . . 2 652 566 805 56 461 391 99-61 1099
1910 . . 3 245 557 337 46 253 411 82-99 8-37
1911 . . 3 286 565 759 47 186 406 83-40 9-42
1912 . . 3 328 569 534 47 716 785 83-78 8-51
1913 . . 3 360 575 700 48 075 655 83-51 8-53
It will be seen that the Post-Office Savings-Bank has not made very
rapid progress. Indeed, during the last decennium there has been a
backward ebb, as will best be realized by comparing the withdrawals and
the deposits. In 1900 the withdrawals were as much as 140 % of the
deposits; the difference between them was close on 51/2 million kronor.
In 1913 the corresponding figures were 109-00 %, and somewhat over lV4
million kronor.
In Sweden the Post-Office Savings-Bank has been particularly
appreciated in sparsely populated regions, which, but for its existence, would
have had to do without a savings-bank. But, owing to the advantages
it holds out, the chief of which is its ready accessibility, it has managed
to thrive pretty well in places well supplied with privlate savings-banks.
As regards the balance per pass-book, it is interesting to compare the
Post-Office Savings-Bank with the private savings-banks. Whereas in
the private savings-banks the average value of a pass-book has been
gradually rising, the development in the case of the Post-Office
Savings-Bank has gone in the reverse direction. It is true that the average
value of these pass-books steadily rose from 1884, when it was 10-41
kronor, up to 1899, when it was 107-69 kronor; but afterwards it sank
steadily (except for the years 1903—04), down to 1909, when it was 81-73
kronor. In recent years there has been a slight rise. — The chief mission
of the Post-Office Savings-Bank from the very outset was to form an
always getatable and absolutely safe savings-bank for persons of small
means, and particularly for the rising generation. During the first
years of its existence, however, the Post-Office Savings-Bank did
not make any tangible progress in this regard. The sale of savings-
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