Not all of these are mutual.

Statistics, moreover, include in some cases (e.g., California) the savings deposits of commercial banks but not the number of such banks, and in other cases (Michigan) some banks that do chiefly a commercial business.

The line of demarcation between savings banks and savings departments of commercial banks cannot be sharply drawn.

The Comptroller of the Currency reported in 1914 in a different form the amount of savings deposits and of time certificates of deposits in _all_ kinds of banks as the enormous sum of $8,675,000,000.] [Footnote 8: In the last twenty-three years, on the average, seven savings banks a year have failed, the annual excess of liabilities over assets being about $200,000, or about $30,000 for each failing bank.

The total loss has been about 1/5 of 1 per cent of total deposits.] [Footnote 9: The Federal Reserve Act, by making it possible for loans to be had at any time (through member banks) on good security, should reduce the danger of runs on savings banks.] [Footnote 10: The author saw in operation a new machine of this kind which had been installed in a German public school as early as 1910.] [Footnote 11: See Vol.