, 1874-01-05

::for the purpose Of auditing and settling til?
accounts Of Postmasters under the provisions OF
this ac." Sec. 90. 'sthat the Postmaster
General shall include in his annual reports
Of tue Postal sav,nga-Depository of
the United States" Sec. at provides
that all postal savings moneys aud
deposits ''ehall be deemed and taken to the
postal savings funds and moneys IN the treas,
u1y Of the United States" &c. that they sliaA
be forthwith paid over to the Treasurer OF the
United States, or to soEae officer OF the Treas
u1y, to be designated by him !; that tho l1oas-
urer shall open ''postal Savings Depository
accounts" that the Postmaster General MAJ, ny
when necessary for the service Of tho Postal
Savings Depository that tho United States
Treasury shall allow to tho Postal Savings De-
pository interest at the rate Of per cent per
annnm on all monthly balances or postal sav-
Jugs fuads to the credit OF said Postal Savings
Depository account, aud permits tho Post
master General to authorize cotta1h 1e.
serve to be held by Postmasters to moot
demands of lepoBitors. Sec. % provides thas
the net revenue arising from the transac-
tiops OF tho Postal Savings Depository shal ba
placed to the credit Of the Treasurer OF tlle
limited States for the service Of the post-Ohco
Department, and that losses, II any, ghall bo
made good out OF any moneys IN tho Ireasu1S
provides that = iae not exceeding Sl0O may 20
imposed on Postmasters for failure to make re-
tnrne. Sec. "a makes it Il misdemeanor for
Postmaste1s or employees to divulge the names
Of depositors, or the dates Or amounts IN o. OF ae-
vide for tho punishment Of employees,
ETC., for false entries, forgery, and enlbezzle-
ment, Sec. 13, that ''prosecutlons lot
crimes and misdemeanors embraced within the
provisions Of ti'is act may be commenced "lthin
i've years uoxt following the cause OF such &C.
ton, or the pcrpetration OF such crimes or mis-
dameanor," Sec. 20, 'that in al matters
appsrtainipg to the subject of this act, NOS
tLorcin provided for, and not in conflict there,
other laws Of the United States in force for the
time being, shall be held 10 apply" sec; ao
apuro1riates 70 much OF tho sun as 953, 00O as
mny ba necessary for payment OF employees .1 a.
the Central Depository until Juno w. 1oio;
SEQ. 81 provides that az tue enpenses y 80 ~ "a
Depository ''exccpt as here:nbefore pro.
rideu, shall be paid out OF the proceeds OF said
business"
It Is estimated that the opening Of n,t ths sub b
tile United States Eill require at the central Of
| fee the constant services Of twenty-elght EN-
ploves (superntendaat, clerks, messengers, and
iaborers) aud at all OF said post-oitices ~ ad-
dit;ou Of 112 Clerks to the present force. being
an average Of about one additional clerk AZ eacn
Office that tho extension OF the system to OK
iices OF the second class (about $50 10 number)
will require about 100 additional clerks (two to
every seveu olices), and thirty additional clerks
at the central Office that its extension to taird-
class post-onices (about $50 in numbor) will re-
auire at those offices $50 clorks Zone to every
five o!tices} and about ffty at the central Office
that the remaining LOO money order Offices no
clerks will be required. and the business Will DO
| transacted By Postmasters in person, while bat
a small additional force Will be necessary At the
central Office
It is proposed to open only frst-class post
| Offices during the frs. year, and to extend the
syste1n bv the addition Of other Offices from year
! to year, IS tho public interest may require. It
| is provided that all expenses Of conducting tho
poslal-saYings business at post-otiices shall be
paid out Of the thrce-eighths Of per cent COM
| missions on deposits to be allowed Postnasters
except TINT at ten exchange or deposit offices
| the postmoste--Generai may allow an additional
amount for payment of salaries Of clerks en-
| ployed in receiving aad forwarding remlttances
| from other offices and it ia intimatcd that tho
| total expense of conducting the business, after
the first year. will not exceed five-eighths Of l
per cont On the depoait received.
The account Of each depositor will be kept at
the central depository, and provision will %
made to allow deposits and Withdrawals to be
| made by depositors at any sub-dopository Office,
without change Of book or transfer OF account.