New-York tribune., 1882-02-09
THE pROlJOTION or THRIFT.

The Postal Savings Bank bill, which has
been favorably considered by the House Com
mittce on Post Offices and Post Roads, is not a
novel expedient. Similar schemes for promot-
inc habits of thrift among the working classes
have proved remarkably successful in Great
Britain. In France the disposition to live
frucally and to hoard savings is national
characteristic, and the postal savings bank
system which has been introduced this year
offers unusual facilities for the investment of
small sums which have been stuffed into stock
ines. In England thrift is not so well-marled
a trait Of the lower classes; yet the readiness
with which those classes have availed them
selves of Mr.. Fawcetts ingenious provisions
for the encouragement of small savings Is one
of the pleasantest surprises OF recent statistics
The minimum deposit received by the English
Post Office officials was q shilling. Inc Post-
master-General reasoned that there must be
large class in pOpulous quarters who could not
save their shillings, but might be induced to
hoard not their pennies, but postage stamps.
The coppers they could not keep; the tempta-
ton to spend them would be too strong. But if
they could be allowed to buy stan ps and deposit
them by the shlling's worth, they would be
Accordingly he devised form with twelve
squares, to which penny stamps could be
gunlmed. In six rural counties selected Tor
the sake of testing the experiment, l4,ooo
accounts of this sort were opened within lew
months; and the Postmaster General was JUS
titled in extending the system to the United
Kingdom. At the same time facilities were
given for the purchase of consols, 800 at a
time, the interest being collected through the
post-olic4s, and those who had few pounds
laid bv. as well as those who were caring for
their shilings, were encouraged to make small
savings.
The success OF these systems of postal savings
banks has exceeded thctmOst saneuinc cXpccia-
tions of the English Department. heaggregate
sums deposited there and in France are al
ready very large, and are increasing every year
When Mr.. Fawcctt authorized the general use
of postage-stamp checks in December, 1850, he
estimated that at least 10000 families i'll adj
dition to the 1000 who had already opened
shilling accounts would at once begin TO gum
stamps to the blank squares OF this popular GER
tifcate OF savings The statistics for the year
have not yet come under our eyes but we have
no doubt that this estimate has fallen far be-
hind the actual returns. If the poorest OF the
English poor gladly take advantage OF a
method of saving which they en- easily under
stand and conveniently turn to account, 1t IS
plain that the general system can be applied to
the United States postal service with excellent
prospects of success We have referred to the
postage-st checks as an illustration Ot the
fact that the poorest may be taught to save
their penuics. and not for the purpose of re-
commencing that the same feature should be
embodied in the bill soon to be brought before
Congress. That bill has apparently been pre-
pared with painstaking care. 1t authorizes tho
receipt of sums ranging from 10 cents to 500,
the maximum deposit being $500, and the rate
of interest per cent 1t is measure that
should be intcligcntly discussed and promptly
allowed to become a law.