ESTABLISHMENT OF THE SYSTEM 9 
the banking statistics of the country as of 1909. 11 
It estimated the number of banks and banking 
firms in the United States at 25,000. “Of this 
number reports were obtained from all but about 
2,500, the omissions being chiefly of concerns 
whose business is confined to brokerage and ex 
change,” 12 and which would be negligible as sav 
ings depositories. Exactly what proportion of 
the reporting banks carried savings accounts is 
not known, as some of them did not reply to that 
part of the inquiry referring to this subject. The 
figures given, however, showed that of the 6,585 
national banks (excluding island possessions and 
Alaska), 3,511 reported savings accounts, with a 
total of 1,964,223 savings depositors and savings 
deposits of $756,827,891. 13 Of the 8,239 State 
banks reporting, 4,675 reported savings accounts, 
with a total of 2,195,727 savings depositors and 
savings deposits amounting to $592,949,131. 14 
Six hundred and twenty-seven mutual savings 
banks reported 7,204,579 depositors with total 
deposits of $3,138,763,705 ; 15 913 stock savings 
banks reported 1,412,634 savings depositors with 
total deposits of $495,178,368. Of 993 private 
11 Sen. Doc., No. 225, 61 Cong., 2 Sess. 
12 Ibid., p. 3. 
13 Ibid., pp. 36-39. 
14 Ibid., pp. 40-43. 
15 Ibid., p. 44.