US Presidency
1911

After three months ' successful operation the system was extended as rapidly as feasible to the 7,500 Post offices of the first, second, and third classes constituting the presidential grade. By the end of the year practically all of these will have been designated and then the system will be extended to all fourth-class post offices doing a money-order business. In selecting post offices for depositories consideration was given to the efficiency of the postmasters and only those offices where the ratings were satisfactory to the department have been designated. Withholding designation from postmasters with unsatisfactory ratings has had a salutary effect on the service. The deposits have kept pace with the extension of the system. Amounting to only $ 60,652 at the end of the first month's operation in the experimental offices, they increased to $ 679,310 by July, and now after 11 months of operation have reached a total of $ 11,000,000. This sum is distributed among FARLEY. It banks and protected tinder the law by bonds deposited with the Treasurer of the United States.