Possible developments of savings institutions.
Sec.1.

#The nature of saving.# The motives actuating the different classes of lenders may, for our present purpose, be reduced to two: to postpone the consumption of income, and to obtain a net income from wealth (or investment).

Saving always is relative to a particular period and is for more or less distant ends.

The child saves its pennies to go to the circus next week, the working girl saves her dimes for a new hat next spring, the earnest high school pupil saves to go to college next year, and the provident man saves for his family's future needs and for his own old age.

But always, to constitute saving, there must be for the time a net result: the excess of income over consumptive outgo in that period.