....
226
6.
• Against these ruuust be set the ede
are not.
disadvantage that the deposits quarauteed by the Tovernment. Pris, however, applic equally to the deposits of every- constituent of all the local Backs Prove. The Bank has simply given facilities to perso of anal
"small means to deposit small sumes at
their
a time. The security which suffices ricker neighbours for very unchlarger
umchlarger amount will probably continue to satisfy these humbler. depositors also, whose aggregate stake in the solvency of the Bank is not expected to reach a larger amount than cheques
I cannot cite a
drawn for every day.
better proof of the confidence already
are
-
reposed in this Savings Bank than the
fact
that Chinese, who regard twelve
as the normal rate
on
the Singapore plow, the furds
fride would
still weerly howe bau depmited in lveal
Banks, and in case
of their failure
the Treasury would have been responsible for the whole amount. I'leary, however, that the
Straits Government is veuxions that the Brauch
of the Hongkong and Shanghai Bauk ~m~ of the charge of the Savings Bank. I presume that means that the Singapore Government finds that clerks cannot be asked to continue to performs fatiguing duties on merely remineel allowances, and that the evargin of profit secured on deposited allows of in
established there should relieve it
of-110
the
e funds
more substantial
de conclusion quay say,
remuneration.
7%.
per
scut av
of interest,
there at 377! Hod
rew.
way
are
depositing money
the Government worked the Savings Bank.
on
thas the trifling facilities granted to the
Savings Bank (which is in
a success so
so far) are merely
every
experimental
1
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