The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-11-24
Especial dispatch to- the Baltimore SUM-
Annual Report Of the Postmaster
General,
Rrs1NESs oE ruE rnsT.orrICE nErAnr


BUSINESS OF TIE POsT-oFFICE DEPARTMENT.
WAsnlSGroS. November 21.-Ihc annual
report Of the Postmastcr.Gcneral was read
by him at the Cabinet meeting to-day. The
revenues of the Department for the fiscal
year ended June 80, 1913, were So 1885,
74151, and the expenditures S26.G5S, 1921.
The increase of revenue over 1872 was ST.
09l $500, and increase of expenditures
- ,42G, 1886. During the year the rail-
| road routes have been increased in length
1915 miles, and in cost SI5i ,425. The num-
Der of railway poSt-office lines in operation
on June 80. 1873, was SO. extending over
1866 miles Of railroad and steamboat
routes. The number Of money-ordcr
post-otces in operation during the last fiscal
year was 2,1I5. The number Of domestic
money-ordcrs issued during the year was
$3.50 $50, the aggregate value OF which was
Sj7 5IG,2l6.69. These transactions show an
increase over these of 1872 of $4,000 ,GS3 81.
From May l TO September 30 of this year
the total number Of postal cards issued was
81 30. 800 In regard to the repeal Of the
frlnkinS privilege the Postma.ter-Gcne!al
SAYS the results of the first quarter OF the
current yclr are highly: satisfactory, amt
have fully verified the predictions OF the
friends of repeal. He estimates the sales oi
postal cards for 1870 Us footing up 81 ,O34,-
1872, and of official stamps at s., 25U,0OG.
PREPAYMENT OF NEWSPAPER POSTAGE.
The Postmaster General rcncws his re-
commentator for the prepayment Of postage
on newspapers at the Office Of mailing. lie
says collections of newspaper postage are
now made with great difficulty, and there is
no provision whatever by which dishonesty
or negligence can be detected. and the De-
partmcnt is compelled TO accept Whatever
sum Of money postmaStcrs choose to charge
| against themselves. If his idea is adopted
he believes he could safely consent to 4 re-
duction in newspaper rates OF 40 per cent
in the present prices. lie recommends re-
duction Of postage on all matter OF The third
class 10 one cent each on two ounces or irac-
ton thereof. He devutcs considerable space
TO the recommendation for the establish
meut Of
POSTAL SAVINGS BANKS.
He thinks the adoption Of this system by
the Government would prevent any ncW
lpcN-rp OF currency. as has lately Eccu wit
messed. He recommends That no dcpo-tor
shall tie allowed to deposit in any one year
more than $500, and no greater accumulation
OF DEPOSITS than $1,000 ,ltii ne permitted
| for one depDsit0r, the United Stnta> 10 pay
| four per cent. interest. He says il would
strengthen our national tiUancrs hv throwing
| lhes. accommodations into the Treasury, which
IN turn bv iudicious Investments would
afford to monetary and banking institu-
tons The very velief they now 81 eagerly
seek. Thousands who doubt the security ut
the banks and savings institutions, whether
| private or organized under state laws,
| would chceriully place their surplus
money upon such terms III tie keeping OF
the Government. he disputes the rgumCnt
that thee banks would interfere with tue
existing savings lnuks il they are managed
rs originally designed, without hope ri
profit or reward, but to provide Il safe place
for the small savings OF the llborln- Glasses.
Il savings banks are subjected 10 risks and
prosttutcd for purposes Of gain Tor their
managers they should be ovcrthrown. II,
on the contrary, they continue to hc well
managed aud pay greater rate OF interest
than that paid 10y the Government, they will
in no wise be put TO disadvantage because
every dcpo>tor will be lett free TO select
his place Of deposit. Neither does he
think that the national banks Gun
raise any valid objection. As TO the cry
of Capitalization. he says that the only
question is whether it is constitutional; ana
i it is, then the only thing to Dc considered
is whether their establishment would, on tue
whole, be advantageous tor the people AMI
the Government. II it can be shown That
postal savings repositories will serve TO Tor
llfv the national credit, make more cqilahe
the financial operations OF the country, cul.
tiyatc habits Of thrift among the industrial
classes, and illustrate the excellence OF Our
institutions by protecting and auslnentIhS
the Accommodations Of Seli.denynS toll, AND
thus in time merging the workman into Inc
capitaIiSt, the cry Of Capitalization c"nti"'
be made TO drown tue voice OF the people
in their demand that the Government OF
the United States shall execute for Their bcnc
fiji the high Offices cujuincd upon 1t 10y the
Constitution. He denies that any nulncr
OILS additional force OF officers would be re-
ulircd. The work could be more chelpiy
and better done by Government officers, con
trolled al every step by law, and punishable
nv severe penalties in case OF default or eili
bezzlement than is possible under the pre-
sent IRRESPONSIBLE and inefficient mode II
which savings banks are conducted IN many
of the States. Mr.. Creswell then gives tnf
; history of postal savings banks i'll England
He rcnews in the strongest terms his recon-
mendations and arguments in favor OF tue
POSTAL TELEGRAPH.
lie now recommends that provision be al
once made by law for the immediate estab
lshmcnt of the postal telegraph and lor tut
i construction of al such lines rs may ~
needed. under the direction Of competent
officers of the engineer corps OF the army.