Alter, George; Goldin, Claudia; Rotella, Elyce J. - National Bureau of Economic Research - 1992
We explore the savings behavior and saving rates of ordinary Americans through their accounts at the Philadelphia … Saving Fund Society. the oldest mutual savings bank in the United States founded in 1816 to encourage thrift among the … manuscripts. Savings accounts were generally brief affairs; only 30 percent lasted more than 5 years. But median balances mounted …
