Francis Lieber.

Library of universal knowledge. A reprint of the last (1880) Edinburgh and London edition of Chambers' encyclopaedia, with copious additions by American editors (Volume 13) online

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depositor is entitled to repayment of the whole or any part of the deposit, on making a
demand ii: a prescribed form at any of the offices (not necessarily the one at which he
made his deposits) within ten days at furthest after sending in the demand. The names
of the depositors, and the amounts paid in and returned, are not to be disclosed except
to the officials immediately concerned. All the moneys are paid into and received back
irom the national debt omce, on the authority of the postmaster- general. Interest at 24-
per cent is allowed on all deposits as soon as they amount to 1, but none on fractional
parts of 1. Facilities are supplied by means of certificates for transferring deposit
accounts from ordinary saVings-banks to post-office savings-banks, or vice versa. All
expenses are refunded to the post-office out of the deposit fund; and if there should
l/e -any deficiency, the consolidated fund is to bear it. A detailed account of the
proceedings is to be presented annually to parliament. The maximum sum deposited
1 y any one person in one year is limited to 30. The deposit-book, in which the
j ame, address, and occupation of the depositor are written, contains minute printed
(Directions for his guidance. The bock contains a pocket, in which the receipts from
i he postmaster-general maybe kept. The depositor pays nothing for the book, and
nothing for postage for letters to and from the postmaster-general.

This new system has proved remarkably convenient and successful. Operations
r<~Trrnr>nrcd on Sept. 16, 1861; from which time till the end of 1875 the tola! amount
deposited, with interest, amounted to 81,397,000, and the sum withdrawn to 56,210,-
000. At the end of 1875 the number of post-office savings-banks in the United Kingdom
vas 5.?60. and the amount of deposits for that year was 8,783,852, making an averaire
of 2 16s. Id. for each of 3,132,433 deposits by 1,777,103 depositors. The number of
withdrawals was 1,112,637, amounting to 7,325,560; average o'f each withdrawal, 6
lls. 8d. The in'.-"rost amounted 1Of571,584, and the charges of management to 122,325,
1 cine 9s. 84d. per cent on the capital. The total amount at the credit of depositors at
1he end of the year was 26,222,485. The average amount at the credit of each depos-
itor in the United Kingdom was 14 3s. 5^d., English depositors having slightly over
this, Scotch 9, and Irish 17. The average of depositors to population was l"to 18,
Ihus distributed: England, 1 to 14; Scotland, 1 to 69; Ireland, 1 to 89. Large numbers
of provident and charitable societies, etc., deposit their funds in the post-ofh'ce savings-
banks.

MILITARY AND NAVAL SAVTNGS-BANKS. In 1842 an act was passed for establishing
military savings-banks in connection with the regimental pay departments. Another
act was passed in 1859, affording greater facilities to the frugal soldier. The proceed-
ings of these banks in the first four years present the following figures: \

Deposits In Year. Withdrawals in Year.

1P59 70,736 64,497

I860 163,491 116,393

1*61 167,136 149,090

1862 152,203 164, 775

" e figure's have fluctnntcd through onuses not stated in the, parliamentary returns,
i eing about the same in 1871 as in 1661.' after bring much 1-uvcr in some of the interven-
ing years, and much higher in 1866. The number of accounts open in the latest years
was about 14,500, including those of many army charitable funds.

Concerning seamen's savings-banks, they mainly depend for their provisions on an
net passed in 1856, which recognized, the sViippmg.offices for seamen as branch savings-
banks; and authorized the board of trade to lay do\vn rules with respect to the persons
entitled to become depositors, the malting and withdrawal of deposits, etc. The opera-
tions of the seamen's savings-banks are far less extensive in amount than those of the
military savings-banks. Recent years have exhibited about 17,000 or 18,000 deposits



185



Savings.



each year; but as the withdrawals are always less in amount, the total investment is
steadily growing, and with it the total interest receivable.

A few changes have been made by the legislature, not so much in the arrangements
Ixitween the depositors and the savings-banks generally, as in the relation borne by the
latter toward the national exchequer. An act was passed in 1866 (29 Viet. c. 5), author-
izing the investment of a stated amount of savings-banks money in terminable annuities.
It applied alike to trustee savings-banks and to post-oth'ce savings-banks; and was sup-
plemented by another act in 1869 (32 and 33 Viet. c. 59). The two statutes together
have swept off a number of earlier acts of parliament, and have facilitated the invest-
ment of a portion of the savings-funds in annuities which will terminate at various dates
before 1885.

AMERICAN SAVINGS-BANKS. In a recent report, the secretary of the United States
treasury states the total deposits in United States savings-banks at 175, 625*, 000, owned
by 2,300,000 depositors, but owing to insufficient security the injury inflicted by the
losses sustained is greater than in commercial ventures, and he proposes a scheme for
converting deposits into 4 per cent bonds of the United States.

SAVINGS-BANKS (ante). While in England no laws were passed affecting the
organization of savings-banks until 1817, in Boston, Mass., one was incorporated Dec. 13,
18i6. and began business in the following spring. In 1818 this was followed by the
incorporation of savings-banks in Salem, Mass., and Baltimore; and one in Philadelphia
in 1819. In the latter year they appeared in Hartford. Conn. ; Newport and Providence,
It. I. ; Bristol. R. I. ; and Portland, Me. The following statement for 1876, of the first
nine savings-banks incorporated in the United States, includes the names of all those
above indicated, excepting that of Portland, which failed m 1838, and of Bristol, R. I.,
which never organized:



NAME.


Opening.


Open
Accounts.


Due
"Depositors.


Surplus.


Philadelphia Savings Fund Societv, Penn


1818


44,700


$11,290.127


$1,079.428


Bust 'ii Pr< viilent Savings Institution Mass


1817


34 883


14.761,061


797.178


Savings-Bank of Biiltimure Md


1818


32,429


12,512,809


1,250,000


Salem Savings-Bank, Mass


1818


16,004


0.090,583


400,000


Bank for Savings, New York, NY


1819


66,439


21,695,401


1,150,067


Society for Savings. Hartford, Conn
Providence Institution for Savings, R. I


1819
1819


83,876
5,203


8,100,097
8,508.380


299,820
170,895


Savings-Bank of Newport, R I.


1819


5203


4 C58 092


Unknown


Portsmouth Savings-Bank, N. H


1823


7,204


2440,043


55,031













The mode of organization differs in different states, some banks being organized on the
mutual and some on the joint-stock plan. In some states the incorporators are author-
ized to add to their number, and to elect therefrom trustees or directors. In others the
trusteeship is vested in the corporators, who may sometimes till vacancies, while in
some cases these are filled by external and appointed authority. The following tables
exhibit the resources and liabilities, number of depositors, amount of deposits, and aver-
age to each depositor for the years and in the banks designated :





1874-75.


1875-76.


1876-77.


1877-78.


1878-79.




C74 Banks.


686 Banks.


675 Banks.


663 Banks.


639 Banks.


Resources.
Loans on real estate
Loans on other securities


$351.336,551
181 143 206


$373,501.243
104 024 477


$369,770,878
114 474 103


$408.921.601

ss 19;> 337


$352,695.026
65 094 405


United States bonds


83,200 272


108 102624


115.389 H80


129 3d- 1 MM


150 415 159


State and other stocks and bonds
Railroad bonds and stocks


161,334,436
20,690,901


1^9,801,399
23,992 313


184,110,002
24,586,503


170.155,075
21 752 t'5il


151,804,318
18 737 917


B ink stock '.


30,508,752


33.207,494


34,571,531


34 7<>:: 250


32 452 020


Roal estate


14.136,748


15,540,384


21 037 42>)


2!) 952 4i>4


33 573 091


Other in vestments


11,354,781


*o,73o,050


18,135 073


IS W.> Si3


10 643 100


Expenses


1,248 688


860 013


1 029238


210 O'JO


194 113


Due from banks , . .


23.378,937


23,011,142


23 522 572


22 551 208


82880849


Cash


17,858,182


18,456 405


10 160096


17 409 085


14 056 894














Totals


$896,197,454


$951 353 544


$922 794 562


' $941 447 150


$805 146 952














Liabilities.
Deposits
Sur>l isfxM


$849,581.633

i'i tiiii 5o. r >


$391,459.890
51 321 033


$860.498,452
43 835 R85


$879,897.425
43 890 503


$802,490.298
50 495 200




2!) i'?' 40'1


5 <7 .V>3


9 20(1 77H


<N'4 177


4 01 5C9


Other liabilities


i 04.; 703


3 (.173, 118


3 259 447


10 O'M i>45


H Ml 886


Totals


$896,197 454


931 353 544


g'j22 794 502


8941 447 150


$805 MO 932















S.ivima.
Suv oiiiir



186



STATES.


1877-78.


1878-ra.


Number of
Deposi. ore.


Amount of
Deposits.


Average
to each
Depositor.


Number of


Amount of
Deposits.


Average
to each
Depositor,


Maine


88,661
94,967
27.690
739,757
89,475

84415*)
63,447
*68.000
*50,450
3,928
5,978
*22.340
*96,%7


$25,708,472
28,789,549
6,722.691
244.596,614
48,103,119
77,214,372
312,823,058
16,353,275
17,923,825
19,739,206
382,905
1,932,330
8,623,245
70,984,764


$303.00
303.19
242.78
aW. 64
537.31
377. 43
370.40
257.74
263.59
391.26
97.48
323.24
386.00
732.05


77,978

27',S72
674,251
82,893
199,7!5
810,017
61,662
74,354
*54,500
3,845
6,008
*22,340
85,913


$21,104.503
26,!te6J,13li
K. 753.105
209,860,631
42, N
72,515,408
299,074,639
15,1<)4,562
19,923,951
19,981,366
280,609
2,009,835
8,796,811
57,846,025


$297.00
301.13
242.29
311.25
516.41
862.95
369.22
260.41
267.96
366.63
72 98
334.52
393.76
672.53


New Hampshire




Massachusetts


Rhode Island


Connecticut


New York


New Jersey


Pennsylvania


Maryland


District of Columbia


Louisiana


Ohio


California


Totals


2,400,785


$8', 9,897,425


$366.50


2,268,707


$802,490,298


$353.73





TABLE EXHIBITING SAVINGS-BANKS DEPOSITS, 1830-74.



STATES.


Deposits at
close of 1830.


Deposits at
close of 1840.


Deposits at
close of 1850.


Deposits at
close of 1860.


Deposits at
close of 1870.


Deposits at
close of 1874.


Maine


No data.
$250,000
None.
2,500,000
350,000
200,000
2.623,304
None.
500,000
No data.
None.
None.


$150,000
750,000
None.
5,819,554
1,500,000
500,000
5,431,966
None.
1,200,000
No data.
None.
None.


$500.000
1,776 768
199,376
13,660.024
5,466,444
1,495,545
20,832 972
2,000,000
5,000,000
3,000,000
None.
None.


$1,539,257
5,590,652
1,111,532
45,054,236
19.377,670
9,163,760
67,440,397
4,500,01)0
8,000,000
6.000,000
None.
1,000,000


816.597,888
21,472.120
2,301,940
135,745,097
55,297,705
30,708,501
230,749,408
20,001,951
15,000,000
12,000,000
None.
36,555,9.9


$31,051,963
30,214,585
5,011,831
217,452,120
73,7*5,802
48,771,501
303.935,649
32.044.840
20,000,000
16,OOO.OiO
1,000,000
69,026,603


New Hampshire. . .
Vermont


Massachusetts.
Connecticut


Rhode Island. . , . . .


New York


New Jersey


Pennsylvania
Maryland


Indiana


California


Totals


$6,423,304


$15,351,520


$53,931,129


; 168,777,504


$576,430,519


8848,292,894





Between 1871 and 1877 18 savings-banks failed in New York city, owing depositors
$8,973,093. There were in that city at the close of 1880 24 savings-banks \loing busi-
ness. In the state of Massachusetts 14 savings-banks have been placed in the hands of
receivers between 1875 and 1880, and are under perpetual injunction. The amount due
depositors by these banks was $9,976,229.05. The number of savings-banks in Massa-
chusetts, Oct. 31, 1880, was 164.

SAVO'NA, a maritime city of northern Italy, in the province of Genoa, and 25 m.
s.w. of the city of that name. It is situated on a plain near the sea, and has numerous
manufacture?, including extensive potteries. The neighborhood produces olives fruits
grain, wood, and wines. It carries on a brisk trade with Marseille The harbor one of
the safest in the Mediterranean, was 25 to 30 ft. deep, till the Genoese in the 16lh c filled
it with etones; but since the opening of the Mont Cenistunnd, which promises to increase
ommercc of Savona, steps have been taken to have it cleared out Pop '72 19 664
The city is the third in importance on the Riviera. It is a very ancient city and in the
.nnc of the Romans was called Sava, founded, according to tradition bv Janus It
flourished under the Roman empire, was destroyed by Rotharis (639), was rebuilt bv
Ludovic the Pious (981), and was afterward laid waste by the Saracens.

SAVONAEOLA, JEROME, the celebrated preacher and political as well as religious

reformer of * lorence was b. of a noble family at Ferrara, September 21 1452 He was

d at home, and at a very early age, became deeply versed both in the philosophy

the flchoo s and in the old Greek philosophy, which at that time had become popular

n, ! y \w "V lls l ) : i lllon [ r ? m ^flrct strongly tinged with religious asceticism,

and n 14,4. he formally withdrew from secular affairs, and entered the Dominican order

ologna. Having completed his novitiate and the studies of the order his fret public

appearance as a preacher seems to have been in 1482 at Florence where he had entered the

celebrated convent of his order, San Marco, and where he preached the Lent in tSyS

RJSISWSra T" 1 ? ( T I failUre ,' Hi8 V * ce 8 harsh nnd ninSJSS. 3S
.o uttetly faded to interest his hearers, that, after a time, the course of lectures was

entirely deserted, borne time afterward Savonarola was sent to a couveut of his order

* Estimated.



-J oir Savona.

buvouurola.

at Brescia, where, by degrees, his earnestness and zeal began to attract notice, and even-
tually, the disadvantages of manner and address, which had told against the effect of
his early efforts, either were overcome through practice, or ceased to he felt under the
influence of his sterling genius and irresistible enthusiasm. In 1489 he was once more
recalled to the convent of San Marco at Florence. His second appearance in the pulpit
of San Marco was a complete success. The great subject f his declamation was the
sinfulnt'ss and apostasy of the time; and in his denunciation of the vices and crimes of his
age, he took as his theme what has been the topic of enthusiasts in almost every age,
the mystical visions of the apocalypse, which he applied with terrible directness to the
actual evils with which, as with a moral deluge, the age was inundated; and in these
half-expositions, half-prophetical outpourings, Lis followers claimed for him tLe char-
acter of an inspired prophet. Under the rule of the great fourder of the family of the
Medici, Lorenzo the Magnificent, art, literature, and philosophy, had all followed the
common direction of that elegant but semi-pagan revival, which the scholars of the loth
c. had inaugurated; and the whole spirit of the social as well as intellectual movement
of which Florence, under the Medici, was the center, was utterly at variance with the
lofty Christian spirituality and severe asceticism in which Savonarola placed the veiy
first conditions of the restoration of true religion and morality. His preaching, there-
fore, in its spirit, as well as in its direct allusions, was no less antagonistic to the estab-
lished system of the government, than to the worldly and irreligious manners of the age:
the visions and predictions ascribed to him had quite as much of political applicability
as of religious significance; and thus, to the aristocratic adherents of the Medici, Savona-
rola early became an object of suspicion, if not of antipathy and dread. It is said by
Pico dc Miraudola, that he refused to grant absolution to Lorenzo, when the latter lay
dying in 1492; but the statement does not accord with Poliziano's account of his patron's
death. Through all this time, however, Savonarola's relations with the church were, if
not of harmony, at least not of antagonism ; and when, in the year 1493, a reform of the
Dominican order in Tuscany was proposed under his auspices, it was approved by the
pope, and Savonarola was named the first general vicar. About this time, however, his
preaching had assumed a directly political character, and the predictions and denuncia-
tions which formed the staple of many of his discourses, pointed plainly to a political
revolution in Florence and in Italy, as the divinely ordained means for the regeneration
of religion and morality. In one of his disc-curses he pointed plainly to the advent of
the French under Charles VIII. ; and when this prediction was fulfilled by the trium-
phant appearance of the French expedition, Savonarola was one of a deputation of
Florentines to welcome Charles VIII. as thp savior of Italy, and to invite him to Flo- ,
rence. Very soon, however, the French were compelled to leave Florence, and a republic '
was established, of which Savonarola became, although without political functions, the
guiding and animating spirit, his party, who were popularly called Piagnoni, or " Weep-
ers,'' from the penitential character which they professed, being completely in the
ascendant. It was during this brief tenure of influence that Savonarola displayed to the
fullest extent, both flie extraordinary powers of his genius, and the full extravagance of
the theories to which his enthusiastic asceticism impelled him. The republic of Flor-
ence was to be the model of a Christian commonwealth, of which God himself was the
chief ruler, and his gospel the sovereign law; and thus the most stringent enactmcn's
were made for the repression of vice, and of all the sinful follies by which it is foment* d
and maintained. All the haunts of debauchery were suppressed; gambling in ; 11 its
forms was prohibited; the vanities of dress were restrained by sumptuary enactn. cuts;
and, under the impulse of the popular enthusiasm which the enthusiasm of the piophet
engendered, women flocked in troops to the public square to fling down their costliest
ornaments; and gay gallants and grave scholars destroyed, in one common ai to da fe
before the gates of the cathedral, whole hecatombs of the amatory poetry or licentious
fiction of the day, in conjunction with the elegant paganism or unconcealed immorality
of the classic period. Meanwhile, the extremes of his rigorism; the violence of his
denunciations, which did not spare even the pope himself; the assumption by him, or
attribution to him, of a supernatural gift of prophecy; and the extravagant interpreta-
tion of the Scripture, and especially 01 the apocalypse, by which be sought to maintain
his views, drew upon him the displeasure of Rome. He was cited, in the year 1495, to
answer a charge of heresy at Rome; and on his failing to appear, he was forbidden to
preach; the brief by which the Florentine branch of his order had been made inde-
pendent was revoked, and he was again summoned to Rome. Once again Savona r< la
disregarded this order. But his domestic difficulties now began to deepen. The
measures of the new republic proved impracticable. The party of the Medici, called
"Arrabbiati" (enraged), began to recover ground. A conspiracy for the recall of the
exiled house was formed; and although for the time it failed of success, and six of the
conspirators were condemned and executed, yet this very rigor served to hasten the reac-
tion. The execution of these conspirators was a direct violation of one of Savonarola'i
own laws, and it tended to direct the popular sympathy in their favor. At the critical
point of the struggle of parties came, in 1497, a sentence of excommunication from
Rome against Savonarola. Savonarola openly declared the censure invalid, because
unjust, and refused to hold himself bound by it. In the following year, however, 1498,
the new elections took place, the party opposed to Savonarola, the Arrabbiati,



Savoitetteo.
SUvoy.

came into power. He was ordered to desist from preaching, and the struggle was
brought to a crisis by the counter-denunciations of a preacher of the Franciscan order,
long au antagonist of Savonarola, Francesco da Puglia. In the excited state of the
popular mind thus produced, an appeal was made by both of the contending parties to
the interposition of divine providence by the ordeal of tire. But at the moment when
the trial was to have come oflf, difficulties were originated by the party of Savonarola,
and nothing was actually done. The result of this was to destroy with the populace
the prestige of Savonarola's reputation, and to produce a complete revulsion of public
feeling. In the midst of this reaction he was cited before the council, and brought to
trial for misleading the people by false- prophecies. He denied the charge; but being
threatened with torture he is said to have made a confession, which, however, his friends
say \vas garbled, if not utterly falsified. He was declared guilty of heresy and of sedi-
tious teaching. The acts of the trial were sent to Rome, where the sentence was con-
firmed, and he with two others of his order were given up to the secular power. An
effort was made to procure a remission of the capital sentence whicu was passed upon
them, but in vain; and on May 23, 1498, this extraordinary man, with his two com-
panions, P. Domenico da Pescia and Silvestro Maruffi, were executed, and their bodies
burned by the executioner. They died professing their adherence to the Catholic
church, and humbly accepting the last absolution -from the papal commissary; and it is
still a question among Catholics whether Savonarola is to be regarded in the light of a
confessor of the truth, or of a fanatical forerunner of the movement which so soon
reached its full development in the reformation. The works of Savonarola are very
numerous. They were all written either in Latin or in Italian, but have for the most
part been translated into French, German, Spanish, and other languages. His works in
Latin are: (1) On the Simplicity of tlie Raman Soul; (2) The Triumph of tlie Cross; (3)
A Dialogue of the Spirit and the Soul; (4) A Fourfold Exposition of t/ie Lord's Prayer;
(5) On the Perfection of tlie Spiritual L>fe. Most of them were translated contemporane-
ously into Italian, and some even by Savonarola himself. His principal Italian works
are: A Treatise on Humility; On tlie Low of Jesus Christ; On the State of Widowhood;
Ttco Treatises on Prayer; Rules of Christian Living (together with a work of a title
almost the same which lie wrote while in prison, and at the desire of his jailer): On the
Mysteries of the Mays; and several other doctrinal and ascetical treatises. No collected
edition of his sermons has been published, and his correspondence also has, for the most
part, disappeared; but the works which survive sufficiently illustrate the peculiarities of
his genius, and the stern and almost fierce enthusiasm which was the secret of his influ-
ence on that corrupted but yet cultivated age. See Madden's Life of Savonarola (2vols.
8vo, 18.14); abba Carle's Histoire de Fra Hieron Savonarola, (Paris, 1842); Revere's 7
PuigiMnie f/li Arrabbiati al Ternpode Savonarola (2 vols. Milan, 1843).

SAVONETTES, soap of fine quality, perfumed and made into balls or other shapes for
use at the toilet.

SA'VORY, Satureja, a genus of plants of the natural order labiate, nearly allied to
thy -no (tAyinu*), and differing from it in the regularly 5-toothed or 5-cleft calyx and the
stamens bont together into an arch under the upper lip of the corolla. The species are
herbaceous and half shrubby plants, all natives of the south of Europe and the east
hey have narrow, linear-lanceolate, entire leaves, with resinous dots, and short axil-
lary little corymbs The COMMON SAVORY, or SUMMER SAVORY (8. 7iortenau), is com-
monly cultivated in kitchen gardens for flavoring dishes. It is an annual plant 1 to 1 ft
high, with leaves not prickly pointed, and lilac or white flowers; has a stron^ and
jable aromatic smell and an aromatic pungent taste, and is in common use both
resh and dried for flavoring dishes, and especially for flavoring beans. It is stomachic
nd tonic \\ INTKR SAVORY (8. montana) is used exactly m the same wav. It is a
half shrubby plant with prickly-pointed leaves and larger flowers. Its taste is pun-



Online LibraryFrancis LieberLibrary of universal knowledge. A reprint of the last (1880) Edinburgh and London edition of Chambers' encyclopaedia, with copious additions by American editors (Volume 13) → online text (page 43 of 203)