The same ratio carried out for all the savings banks in Massachusetts
gives a trifle over 25-100 of one per cent.; we may, therefore,
consider 1/4 of one per cent. as expressing pretty nearly the cost of
receiving, paying out, and investing the savings of the people.
We must remember in this connection that in the popular estimation,
the savings bank is an important factor in the public welfare, and in
the towns and smaller cities there are often found public spirited men
willing to give their services to encourage this mode of saving; but
public sentiment has not yet given to life insurance the place which
it is destined, sooner or later, to occupy by the side of the savings
bank. Hence the services of able managers can only be obtained by a
liberal outlay of the corporate funds. A satisfactory adjustment of
the matter of expenses will, perhaps, do more than anything else to
bring about this recognition on the part of the public.
In the case of the savings bank it is safe to say that for double the
present outlay a liberal salary could be paid to all the officers.
Following the analogy, we are led to infer that if this be the case in
savings banks, then 1/2 of one per cent.
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