The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-11-29
POSTALSAVINGS BANK
Will Be Recommended by Post
master-General Wanamaker.
WILL BE OF BENEFIT TO PEOPLE.
No Interference With Other Banks Con-
templated, ~ Only Country Post.
smces VIII Be Depositories.

causes of the defeat of the Repub lean
party in the recent election vas the desire,
common in the South and West. for q
more extensive currency. This fact has
served to draw new attention to
the plan. which has been proposed
In two or three of Postmaster-Gen-
erai Wanamsker's annual reports. for the
designation of certain postothces as pos
tai savings repositories. The postmaster
general has gone over the arguments IN
support Of this departure again and again
before the com mittees in congress. as well
as in his reports, and 1t Is not UNI
likely that he will dwell at length
upon that in his forthcoming annual
report; but it is already predicted that the
desire of larger circulating medium, al
ready referred to, may result in new and
more strongly backed propositions for the
actual Inauguration of the system of postal
repositories for savings.
Jaw Gould has said that he did not
doubt that 500, 900, 900 are hidden away IN
the houses of the working masses Of this
country, either because places for
making deposits Of savings are not at
hand or because those which are at hand
are not fully trusted. and the experience
of England and other European countries
demonstrates that five or six times this
enormous amount of money would soon
find itself in the postal savings deposit
tories, if they were once started.
The postal savings banks of England.
indeed, have steadily increased in num-
bers and in strength, and they are one Of
the acknowledged benevolent institutions
of he empire. The reasons why they
have been good for that country
and why the advocates Of the sys-
tenn believe they will be good for
this country are easy enough to see. The
savings of the people who live remote
from banks are in a sense perfectly inse-
cure, and being so they are not large. If a
dollar or $40 is hidden away under the
carpet or in a pillow or somewhere
else, it is not only liable
to be stolen, but the incentive
to thrift is almost entirely lost. because
the very objects of having large sums saved,
namely. security, investment and increase.
are almost wholly lacking. so that while
the immediate result of the in
auguration of postal service sys-
tenn would be the accumulation of
perhaps 500, OOO. 900 or may be $500 ,0OO, 900
and the consequent putting OF it all into
circulation, and hence the tremendous i'm
petus to business and money making,
it would be the cultivation of the
habit Of thrift and money making
among, perhaps, millions of people
who had really never had
chance to contract the habit before, and so
would become added accumulations of
millions of dollars and added momentum
to the circulation of this medium and to
the general money-making prosperity.
Shrewd fnanciers in the East have
pointed out not only these important re-
suits to the masses of working people
themselves, but they have predicted that
this very utilization of the surplus
savings of the masses would perhaps tide
the treasury over an unexpected stringency
and would give to those who demand
more extensive and accessible circulating
medium just what they have always de-
sired.
The term Savings bank" as Postmas-
ter General Wanamaker has pointed out.
is misleading. as the proposed plan only
creates repositories at designated post
offices, and the plan would be to designate
only those postotfices as repositories
where the legitimate savings bank BUSH
ness would not be interfered with.
The postmaster generals plan in detail
has been outlined somewhat as follows:
At designated postoffices to receive on de-
post sums of not less than 81, which
may be in postage stamps on
cards to be furnished, interest to
be added from the beginning of the
next month after deposit. on sums of not
less than $40. All deposits to be trans
mitted to the secretary of the treasury.
who shall. at the beginning of
| each half year. fix the rate of
interest to be paid to depositors, said in
terest to be Il per cent. less than the cur
rent rate at savings funds and private
banks at the monetary centers.
The secretary of the treasury shall keep
| account of deposits by states. and, to put
| the money in circulation, shall
offer the funds arising in each
| state as loan to the national
| banks OF the same stale. st q rate of inter-
est to be fixed by him, and these sums
| shall be declared trust funds and shall be
| preferred claim against the assets of the
| banks.
| Another plan, quite simple and thor
| oughly practical. would be to issue at
| the postothces negotiable certiti-
| Gates OF deposits IN sums of
SO. SO. $50 and 500, for easy
! computation, bearing interest ut the rate
! o: half a cent a day on $l00 Isl S2lI per
| year,, or a little less than per cent. per
| annUm, after the Isl OF the month following
| the date o. deposit, and principal and in
! terest PAYABLE on demand at any money
| order office by proper Endorsement and
identification under regulations of
| Tie postmaster general The money
| deposited n each state II be reInvested.
| 80 lar as poss ,Die. N the same state in
! schoo! or mun,cipa! bonds uy the post
| master general, 81 Jet ~ the approval! of
| the secretary ii the treasury
These are the Iua-&re thoughts Of the
! business men and are The result Of three
/ years c.ose sildv. Tina; a chance to deposit
+ savings IS really needed NAV be
seen by the fact that the
/ reports OF 3G.59N postmasters state that
/ the distance OF savings banks from post
I offices varies from 4 few lee: ~ hundreds
% miles and tie actual average CT DIS
tAnce IN l>.6 out of 1.>i7 counties
30 the United states is twenty-eirht miles.
A. the poS:othCe Is within easy waking
/ distance II the home u every man. woman
ANA chAl, 50 would the pace OF derosit
i1r savings be equally accessible and CON
. yeLlcut
Producing Large Hens.
\ poultry breeder SAYS: TO produce
/ large carcasses. cross a Dorking cock on a
+ t~...t.s., PA ,,a -,