The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-12-22
FINANCIAL.

The st. Louis Republican says the Postal
Savings Bank Bill introduced in the house
by Mr.. Manning, of Mississippi, is framed
10 meet the recommendation of the Post
master-General on that subject. 1t fixes the
rale ofintercst TO be paid at 2per cent. De-
posts are to be received not smaller than
81, nor greater than $500; and no depositor
is allowed to have more than $500 standing
to his credit at one time. The object of this
limitation is to repel deposits by business
men, aud to confine them 10 the thrifty
wage-earnng classes who are in the habit OF
saving a share of their earnings and desire
a safe method OF investing them where they
may draw moderate interest. The Man
ming bill provides expressly that the de-
posts shall not be subject to taxation OF
any kind, State, county, town or school,
and, further, that they shall be exempt
from seizure for debt These are valuable
features. and will virtually add i-2 to 2per
cent. to the rate Of interest the deposits
draw, making the rate as good as taxable
four-per-cent. bond. There is to DO chief
Office at Washington called the Central De-
pository, and there are to be sub-deposi-
tories established throughout the country
at such places as the Postmastcr-Gcneral
shall appoint Deposits may be had at
any time, but they do not begin to draw in
terest till the first day OF the month after
they are made. they may be Withdrawn at
any time, but no interest Is paid on II de
post withdrawn before a months interest
shall be due. The Postmaster General
thinks the postal deposit system will not
interfere with the regular savings banks;
but there arc reasons for believing they
would to limited extent impair the de-
=. post business of these banks, The moneys
tnI ,,,N 10 .tnl
be invested in the purchase or payment OF
less than 3 per cent; ana il there be no
such bonds purchasable ut Il lair price, then
they are 10 be invested In the most APP
proved State, county or municipal bonds
attalnable.
We have received a copy of the annual re-
port of The Public Printer for the fiscal year
ending June 30, 1881. This shows the ex-
penditures TO have bees $2,2l5,937.27, a
greater amount than for any previous year.
Eighty -four books, containing 1850 pages,
are published and copies to the number OF
2,p3l ,S44 distributed, The United States
now docs more public printing than any
country in tho world, and issues enough
country with several copies
The Western Mining Company, of Tomb
stone has been reorgsnzed with capital
of $l2 10000. The company will be known
rs the Contention Mining Company.
Lords bill, for the compensation Of let
ter-carriers, provides the salaries of carriers
of the first class i'll tho service last year,
shall be ii 900 per annum; second class,
5000; and in all cities containing popula-
ton of less than 5000 there shall DO one
class OF letter-carriers at $3.50 per annum.
Auxiliaries will be paid at the rate of 5000
for the first years service, and 800 each
subsequent term of that grade. The bill
also provides for substitute letter-earriers
at nominal salary excepting when perform
ing duty.
The number of failures in England and
Wales gazettcd during tho week ending
November % was PSI. The number in the
corresponding week of last year was 272,
showing a decrease Of 10, being total
decrease, in 1881, to date of S74.