Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1873-12-04
the country In its course of unparalleled deyelop.

pdpcls aiiu otilti dttc OF the second cIna, -
weight OF packages, rather than by the present
system, which requires the manipulation az eaah
= particular paper ana allows the payment of post
age at either t e mailing office or the office ~ A.
livery. A careful revision of the subject confirms
me N lns OPINION that the postage on all such
matter should be collected in advance at the mail
ing office. Collections are now made with rraat
)St- difficulty, and there Is no provision whatever NV
an which dishonesty or negligence can be detected
10 No stamps are used for the payment of sucb most
9l- age, and the department is compelled to accent in
fall satisfaction whatever sums of monar - -.
masters choose TO charge against themselves
e~xecrably bad is this system that postal official, of
high standing have estimated thai nor .hsu
enl one-third of the postage properly chargeable on
=, newspapers Is accounted for and paid over. Fur.
thermore, disputes are continually arising between
tN- sheets they transmit come within the meaning of
III Il, the term newspaper, and as to the number of their
ing to ! more faithful collection of posi-
ages, the more prompt and efficient trans
m m'=Sl Post % cs"Sp' and tine tine S asne;a, of labor
tage, as well of the Department as of publishers
and their patrons, | respectfully submit the follow
nts ing plan for the prepayment of newspapers of the
m second class, and urge its adoption: Let all pub-
mi fishers, or their business managers or agents. be re-
1p- CURED. al the beginning of every quarter, to state
ar under OATH that, after dlligent inquiry. they are sat
10 isded that they will send in the mails 10 regular
ed subscribers during the coming quarter MOI NOR,
er- than copies of the newspaper known as-
, giving the number of copies and name of
ne pay i'll advance the postage required by law. takinu
IL, therefor duplicate receipts, one of which shall he
be transmitted to the Post-ohice Department.; and. to
~ dAoiH NS@oh~' ottPtluiiNS % al. increase OF
Ia circulation dur the quarter, let the oath taken
Al thc beginning Of the next quarter embrace all
e. additional copies for the last quarter, as we'll AS the
~ number 10 be sent during the then commencing
20. quarter. On the other hand. let Postmasters be re-
qeircd 10 return, within two weeks after the be
re ginning OF every quarter, correct lists of all the
lai newspapers addressed to regular subscribers, and
nal dispatched IN the mails from their respective
Offices, stating the number of copies Of each
newspapers. the average weight per paper. the
A. number of issues per week, and the amount
Jl having been made III advance for the
quarter no stamp or manipulation would be need
ar ed. but. when received into the office. every paner
H. answering TO the description given in the receipt
a. would be treated As paid. The papers of persons
ne subscribing after quartcr-day would be forwarded
Ae immediately and paid for at the beginning of the
next quarter. So marked would be The improve
5A hient III the collections under this plan, that 1 lie
1T iieve the Department could safely consent, IN case
ID of its adoption. TO a reduction Ill newspaper rates
Of 40 per cent. OF present prices. At the reduced
rate, / am satisfied the Department would realize.
~ more revenue than now. L also believe thar so
tJ great would he the saving of labor to newspaper
n7 proprietors in the preparation of their papers for
Hd HE mali. and 50 decided their gain from the great
H. er dispatch and freedom from mistakes in trans
r.. mission and delivery, that they woald lind the new
I'LL plan more ad vantaGeous to them than the present
'M one. \ similar plan could be adopted for maya
zines and periodicals of the second class.
PosT-oFFICE SAVINGS BANKS.
The events of the past few weeks have awakened
IN q lively interest in a plan heretofore submitted for
- securing The savings OF the great body of the pco-
M pie by u pleo@eo OF the credit and faltl Of The United
~ states. IN my reports for 1871 and 1872 | urged the
organization of institutions for that purpose, I'M
= der the title of Post-otiCe Savings Banks.
The name was not well chosen. The institutions
I have III view and recommend are not designed,
,, and should nos be permitted, 10 encroach upon the
80 legitimate powers and duties Of the National Banks.
Iuey are totally diStiLCI from banks in their scope
sr ana character, IN The machinery they employ, and
." in the ends they are intended TO accomplish. and
may be more accurately designed as Postal Savings
= Repositories OF the United States.
- The financial difficulties i'll which the country has
been Unexpectedly involved, and which sill con-
- tluUe to Cypress it, have demonstrated the necessity
for some means Of maintaining confidence in times
20 Of threatened disaster, and O. gathering and wisely
employing the Immense wealth scattered among
the people, TO prevent panic and escape the ruin
H., which inevitably follows Ill it, track. That the
people Of the United States hold the reins Of fuan-
~ ciaI Is we'll a. political power clearly appears from
m the tables taken from the public debt statements,
reports OF The National Banks, and from official
ii accounts.
If, therefore. a plan can be devised that will
afford TO depo7itors tIual security to hat afforded
ia TO uOte-h0iaers. but Hide doubt can be entertained
- that a general ameliorat0n of the present coudi-
IN ton VIII be effected; the immense sum of $3.50
eo0.t .. held by the people III June last, win the
Re- large accessions since made thereto by heavy drafts
~ upon the Treasury and the banks. Will be brought
out from il places Of concea!ment and applied 10
it legitimate work OF aiding IN forwarding our
he crops and products 10 market and in sustaining
oar vast manufacturing and other business IN
- teresi~.
In my judgment, q system Of postal sayings-de-
all po-itorIes would powerfully contribute 10 this
a. moss desirable Throughout the
be plan for their organization and work TWO ideas
-p-cdomlnate: first, the United States Is 10 insure
The safe return, of principal and interest whenever
IT demanded; and. secondly, the extensive machinery
j. Of the po.t-otice is TO be used to bring lis advan-
a. tages home to the great mass of the people. The
~ details would De simple, safe and efficient. Money
u oruer offices, as agents Of The Government, would
q. receive deposits III small sums, ranging from 81
nd upward to the limit fxed by law. which sums the
IT. postmaster would forward At short intervals 10 TIE
III nearest depository of the Uni ed States Treasury.
il 4 certificate, fixing the responsibility Of the Gov
~ eminent. would be issued Immediately to the de !
lot poslor by the postmaster, and nouce thereof
would be sent either to the Department or some
established branch office, 10 the end that due
ad entry thereof might be made and a more
n formal acknowledgment forwarded 10 the
ap- depositor for the amount. No deposition should be
s.. allowed in any one year 10 deposit exceeding $500:
no greater accumulation OF deposits should DE
r; permitted 10 any one deposItor than $500; and
be no greater accumulation Of deposits and interest
r.. ,aogid he allowed than s. 40, Meantime. how |
ere ever. the United States should contract 10 pay i'll
IF- terest moi exceeding ! per cent, 10 be computed
mi from the first day Of the month following the de
CT post, and to stop upon the first day of the month
o. III which any withdrawal might be made. Interest
should be computed to the end of the fiscal year,
y4~ and then. if not drawn, should be added to the
nd principal. Itwould Of course be necessary TO keep
al exact account of all such deposits, and Of the
the expenses incident to the management thereof, III
IT: The Treasury Departments; also 10 make provision
of for The payment of the amounts due deposltor5
ae whenever and wherever they might desire 10 with
m draw them, and 10 allow and credit TO such accu-
mutations a somewhat greater rate of interest
than that paid depositors, so that all expenses
- made self-ustaining. l am confident that the
-" plan Of operations thus generally shetched may be
SSI 70 a~mplidcd and guarded that the people
va Government may be saved from all loss
~ or expense. The great ends to be attained are,
- irst, absolute security; secondly, the utmost ia
nod clhties for deposits, Withdrawals and transfers,
h1 anu thirdly, perfect secrecy. = Z 4
VA The extent of the benefits which will inure to
10 the people and the Government from the cstab-
q lrhmont of this system will be best Indicated by
aY- d statement of the amounts deposited in existing
savings banks III some of the States of the Union.
ust- x = Thus seven States Massachusetts,
.1 Rhode Island, Maine, New Hampshire, Connect
cut, New York and California; had. many months
, in ago. l,S67,So2 depositors, and $50, 1S5 30 81 on de-
J. o. poslt-an amount greater by S3,416,9 $50 than ali the
deposits, including those of Individuals, the
,r- tinted States. and United States Disturbing Off
ir> cere. held by ali the National Banks of the United
l5l States. numbering 1919, on the third day Of DC
The tobcr, 1872. Il
Fe. objection has been made To the establishment
20 u posi9i savings q, rHsitories upon the ground
leg mat they would interfere with and overthrow the
10 present savings banks. | respectfully submit that
~"i tA~ objection Is without foundation. Savings
a@Hk- we're originally established by the benevo-
'es tni and philanthropic to provide safe places of
1tpost for The small savings of iaboring people,
ana III the beginning they were conducted without
eGv. nope OF either profit or reward other than that
rar winch comes from the consciousness of doing
IN te -'od. In SO far as they have since been used tor
-t4 F"TPoseS OF speculation, their managers have dl-
have wired IN m from their original design, and to that
arf 'Aienf nave abused the confidence repOsUd in hem. |