I. Introduction: the problem, 40; France a good test case, 41; use of terms, 42. — II. Methods used in computing growth of savings, 43. — Comparative aspects, 43. — III. Growth of savings: France, 44; Germany, 46; Great Britain, 48. — IV. The French reputation for thrift, 50. — Reasons for lower savings in France: distribution of income, 51; reinvestment in business, 54; age distribution, 55. — V. Savings and foreign investments: France, 58; Great Britain, 60; Germany, 61. — Conclusions, 61. — Appendix, 63.