The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1885-12-10
POSTAL SAVINGS BANKS.

the failure of savings banks, with
widespread loss to depositors, in that
State, as an argument for the insti-
tuition of national savings banks in
connection with the postal system.
The plan had been recommended by
nearly every Postmaster General
since 1870, and bill establishing
the system was favorably reported
by Congress in 1882, but failed to
reach final vote. Consolation for
the delay in establishing the system
in the United States is obtained
from the fact that the matter was
agitated for more than half q
century in Great Britain before it
was taken hold of by Parliament.
Such a parallel, however, would
never he accepted as an excuse by
business men, for the failure of
American manufacturers to take adj
vantage of an important mechanical
invention, once its utility had been
proved in another country. AS to
the undoubted success of the insti-
tuition in Great Britain the following
statement is given in the paper above
referred to -
"Savings deposits were first re-
ccived at the post office of the
United Kingdom September 10th,
1861, and on that day 435 accounts
were opened, and l35 deposits made
amounting to 81 1867, an average
of slightly over $40 each. In fifteen
months the deposits had swollen to
G49,216, aggregating $40, ,29S,43S.
O3. and at the close of 1880 there
were PISA ,972 pass-books, repre-
senting deposits to the credit of de-
positors of $1G4, $50, ,3S2.19. That
the arrangement is mutually beneli-
cial to the Government and to the
depositors there is now no question
in the minds of the British people" "
1t is the part of true statesman
ship in any country to avail itself OF
economic experience wherever that
may be found in any matter of polity
wherein u need for action arises
The copying of legislation by ono
nation from another is very com
mon, and once q problem has beel
satisfactorily worked out by any
country, it will in most cases pro
badly be only waste of energy TO
other countries, under condition
Approximately similar, to begin tn
solution of the same question b,
entirely original methods. Thi
seems to have been the view takel
by both the Congress of the Unite'
States and the Legislature of Ha
waii, regarding postal savings banks
Both pronounced the thing good
lncTc lllc American o'aeSoihS
paused. Whether they delayed civ
ING effect to their expressed opin
ion, through indisposition to distur
vested interests of shareholders i
existing institutions for husbandin
the savings of the people, or TO
other reasons, is beyond our know
ledge. The Hawaiian Legislators
however, carried their ideas out t
the point of consummation so far a
their power went. They passed, g
the last session, an Act providin
for the establishment of post;
savings bank in this kingdom. IIel
there was novested right concerned
for the one bank then in cXistcn'
had abandoned its savings brancI
in anticipation of the inaugurati'
of the postal system. The Act w
approved under the royal sis
manual nearly sixteen mohlils aS
but as yet nothing has been do
by the Executive toward giving Il
law effect. Therefore, this must
added to the category of matters
which the Government has ASSUME
to please itself as to whether Il
carefully dcliberated legislation
the peoples representatives shou
- ne carried out or ignored. Ov
and over again have the Ministe
been publicly asked for an explain
ton of their course in regard to I'll
law, but not word have tho
Welded in response. One OF u