The Republican. [volume] (Oakland, Md.) 1877-current, 1886-04-03
| Concluded from LIST page.
reimbursing the government for all

In many countries much less IMAM
the half of one percent suffices to pay
all cost of management. In the be
ginning three fourths of one percent
would safely pay the cost in this
country. Great Britain. where mon
ey is always lowest in price, has al
ways paid two and a half per centum
interest. while each of her colonies
pays four per centum. France pays
three per centum to her depOsitors
and in 1880 the profits of the system
enabled Japan to pay seyen and one
FIFTH per centum to her depositors.
The next objection urged is that
we will soon have no national debt
and no funds wherein safely to invest
the peoples savings. 1t might suf-
Ace to say that we ought to afford to
the poor the same privilege and pro
lection now given to the holders of
government securities and to the
national hanks. We must soon meet
the problem of basis for the nation.
al banks, and If the postal savings
system makes new competitor with
them for the government bonds, it
does not make new problem. 1t is
the same problem and If the savings
of the people be involved with the
interests of the banks, the solution
will he wiser and safer. A thousand
million dollars of national securities
will remain up to 1907, in which pos,
tai savings deposits may be invested.
The bill contemplates the use of these
funds at low rate by the postal de-
partment which, mainly supported
by its own revenues, has frequent
need of fund like this at certain
months of the year. The want of
such funds has heretofore cost the
government a higher rate of inter-
est.
II it he asked what will the next
generation do when our debt is paid,
the answer is, they will meet this
minor problem as they will greater
financial problems. The worst that
could happen would be that the de-
posits would remain in the treasury
without interest. But what reflect
ing man expects soon to see the debt
disappear Let me point him to the
rapid railway development and the
disproportiOnate increase of postal IA
cilities. Penny postage is in the near
future. Our railway mail service is
in its youth. The present pension
appropriations are seventy.five mil
lions for the next year. The pension
ing of the survivors of the Mexican
war will naturally thereafter result
I'm pensioning at siXty.four years of
age the soldiers of our late war. The
growing sense of alarm will demand
the expenditure of millions for forth
fications of our defenceless narbors
on both ocean coasts, on the lakes and
Gulf. Millions more will be given
to build up the navy.
The transfer of the political Assem-
dency in this country to the Mi3sis-
sippi valley, means rapid increase
Of millions yearly i'm the annual bud
get for public buildings, for rivers
and harbors. The situation adm0n-
ishes the good citizen that we need
rigid economy in public expenditure
and that the public debt will survive
two generations. as a basis for postal
sayings funds and banking interests.
Already the surplus fades and there
is an estimated deficit for 1887.
THE "PATERNAL" OBJECTION.
One more objection remains. Ad-
ADMINISTRATION nihilists will say this
scheme is too "paternal" and it asks
the government to do something for
the people they ought to do for them
selves. This illustrates the refined
human selfishness which sometimes
masquerades as altraistic wisdom. l
usually meet this objection. coming
from intelligent men and women
who have insisted that this govern
ment should paternally carry their
books and laces. parcels and mer.
ehandise, do general express bust
ness for them, act as city messenger
boy for their convenience by the
quick dispatch ten cent stamp, and
yet. while they demand this purely
personal and paternal ministration
from the government, they would
selfishly deny to the poor men and
women of all sections the impersonal
security of its vaults to store their
scanty savings.
The objection disparages the ohiec-
tor. Now is the time to adopt this
system, the year after a presidential
election. The State Charities Aid
Association of New York, Mr.. Hor-
ace White, Postmaster General
James and others are leading philan.
thrOpic men, women and societies
which urge this boon. The knights
of Labor throughout the country be-
gin to realize that this measure, more
thBn almost any other, will help the
working people of the United States.
1t will come. 1t may be unwisely
delayed.
What Can be Done.
Nv irving again and kpenin.r nm