The Waco daily examiner. [volume] (Waco, Tex.) 187?-1888, 1881-12-23
A SPLENDID MEASURE.

\ A SPLENDID MEASURE.
j Representative Manning, of Missis-
l sippi, has bill before the house that
1 presents some excellent features-so
much so that we shall be astonished
| if IL fails to become q law. Virtually
the measure is based upon the recent
Recommendation of Postmaster-Gen-
| eral James, for the establishment of
postal savings repositories through
out the country, operating as branch
of the postOf1ice department. AS we
understand the purport of Mr.. Man
ning's bill it is framed purely in tie
interest of persons of small means,
who wish to lay by their small saw
ings for 'rainy day" in some place
of deposit where they will be aoso-
luteIv safe. The rate of interest
on such deposits - two pc
cent. per annum-is too small to prove
attractive TO persons with large
means, aud even were this the case
there is al aggregate limit 10 deposits. |
such limit being $500. II is not an
investment for TicA people. By the |
terms of the bill these deposits are
exempt from taxation OF every kind
as well as seizure tOr debt. The gov
ernmcrt proposes to utilize the money
thus received by investingit in three
per cent. bonds of the United States,
or, if these are not available, IN the
most approved state, county or Inu-
nicipal bonds obtainable. With
frugal, industrious, but peor
people, such measure would |
find great favor. There are
thousands of men and women whose
yearly savings will not exceed fifty to
one hundred dollars. They cannot lay
up more and live, For these little sums,
accrung as they do i'll amounts OF
one or two dollars a week, there Is very
little room for investment. The de-
positor is timid, and boards his little
store rather than trust it in bank or
risk ii in speculation. If he eau hnd
some mode Of investment that is alb
solutely safe, the rate OF interest is not
nsr8mount consideration with him.
If Z sudden emergency forces him to
encroach on his savings, his certificate
Of postal deposit will alwsys COM ,
mand a fixed value at any bank
counter in the land. 1t IS !
this class of people-and there are
of them in the country-the
Manning bill proposes to accommo-
date. But the measure is commenda-
bic viewed from higher and broader
In addition to stinulat- +
ing frugality, industry and economy
On the part of the depositor, 1t ylrtu- s
,lly converts him into citizen who
ms a direct interest in the tranquility, ,
ficacy aud perpetuity of the gov si
rnment whose promise to pay ne a
arries in his pocket. These deposi- :, u
ors, by the strong motives Of self il
interest, viii not be agitators, commu- G.
lists or enemies Of the public peace. .
As body they will be men a
nd women who will depre- t' tt
ate anything tending to i'm al
air the prestige or strength F
t government. They will become E, :,
onseryative On precisely the same 81
rounds that the requirement OF real ei
state impels men 10 conservatism,
rance, when preparing TO pay her j.,
reat war indemnity, pursued some -
7hat similar policy, though on :
rander scale. She issued her bonds, "
rentes" they call them in France, to I"
he people-peasanU ani prince alike.
,hree million French peasants are
olders of these bonds i'll sums OF 10
rom five up to one hundred francs. r
my cue can readily conceive what a 81
old this fact gives the French gov u
on the masses. They are in al
crested in the strength and perpe- I'll
lity Of the government. We may not ,e ",
0 things on SO grand scale III this e,
1untry. because there is no need of az
, but we may succeed in devising h.
easure that will be boon TO thou
.nds of poor men and women and aid
converting them into conservative, tn
ugal people, who haye an active aud sp
interest in IN orderly, sta OF
e condition Of government and con Sc
quently of society. Un all these ac-
unts we pronounce Mr.. Manning's ~.
easure well worthy Of public Ell s..
,rsement and countcnanee, for il Is lee
the interest Of iha people. iti, n