The times. [volume] (Richmond, Va.) 1890-1903, 1894-12-12
THE rlmEs-R1cRmoND VA WEDNESDAY DECEMBER y 1924

CeneraI saws in his report that I'm ten
years ,he nt,nher Of parcels has Increased
from 22.gOOiO per year TO oi'SibO per
year" I feel certain IKE appreciation
OF such a boon would folioW us aaobtioh
here. Every post-otfice IN England Is
also telegraph office, ana telegram
may be sent TO any part OF Eneianu, SCOT
land or Ireland at the raee VI we've
cents for the FIRST twelve words, and one
cent for every additional word, and the
message will be delivered within mile
Of the receiving Office free, beyond that
distance charge or tWeiNe cents per
mile for the first three miles Is made,
and II exceeding three miles charge al
the rate Of twenty-five cents per mile
IL payable. The telegraph business Is, In
England, a Government monopoly ike
the post-ofiice business anu uhuer the
same management and control THESE
services however. IN excess OF what the
like department does FOR US mere 90 not
nv any mears exhaust the list OF greater
benefits reaped by the English people. for
there vet remains TO be mentioned what
| regard az probably the most valuable
In an economic respect OF all us services.
That Is the Post-Ofice Savings Bank De-
partment. This grand, absolutely safe
and unbreakable bank TOT the savings
of the working classes is the outgrowth
OF a plan elaborated ana devised by tue
late Sir Charles william Skies, coun-
trv banker. whom / knew well, and who
suhuitted Il to Mr. Gladstone, then Chan
celIor of the Exchequer, about thirty
wears ago. Mr.. Gladstone was struck
with the idea. and obtained parliamentary
authority for it's creation as DEPART
ment or the post-office. From the day IL
commenced operations 10 TINS DAY IL
has never ceased to grow IN the taVor
OF the working classes, ana mas pract-
cally swamped all the old-tashioned saw
ngs banks managed by boards OF direc-
tors and trusteeG. IT'S management Is en-
tirely controlled by the Post-Oince De
partment with its corps OF civil service
EMPLOYEES. and the funds deposited with
II are under the control of the commits
sjopers for the reduction OF the national
debt, and are solely invested III natlohal
! securities to the payment OF Whlch tne
credit Of the nation Is absolutely pieGBed'
Nv no possibility. therefore, can any de-
postor ever lose a cent AFTER II mas once
come into the possession OF the fost-
Office Department. Every money-order
office IS a savings bank Office, ana the
opportunity for saving is mus Drought
right home to the door OF almost every
! citizen in the land for nearly all the
post-offices are money-order omces. IN
terest is allowed on all deposits at the
rate of two and half per cent. That III
NAV be strictly confined TO the purpose
for which il was intended, VIZ Inc saw
ing Of the small sums OF the Worklhs
classes, and may not enter INTO compe-
tition with the ordinary banks OF the
country, the amount which could De de-
posted by any one depositor IN one year
| was original limited 10 $50 ms mas re-
Gently been increased to $3.50. When this
Il a
Guest to the postmaster the sum can De
INVESTED in national securities consols.
and this investment can De increased
until the total sum Of 300 Is 50 invest
ed Beyond this the department VIII not
assist the depostor. II presumes, ana,
think. rightly, that when man or Wo-
man has been taught thus Tar 10 tdhc
care of savings. he or she may safely be
trusted TO continue the good work ana
watch il carefully without the ana ol
Government. The results attained nave
been marvellous. The Observation-Disclosures
saws in his last report: THE sum due
| to depOsitors In the bank at the END OF
the year 1893 was fS0,597, 6ll-about WV
9S9. 2O5-a sum larger by 41i4.562-about
S2g. IN Sf0-than at the end OF 1892. Besides
this. depositors held 1864, i9l-about S5l'-
S22. 40 OF Government securities. In the
first three months Of 1894 the deposits IN
the bank amounted 10 S,l2, 33b-aoout
SO.7l1 ,6S0-.as comp5red with f6'765'llF-
about So, SO, S95-in the first three months
Of 1898"
What invaluable lessons Of thrift and
economy are not these figures eloquent
Of. No fear Of Anarchists and Socialists
need be entertained in q country Where
its working people are thus trained and
have such an interest in the good govern
ment and stability of the resources OF
the land they live in. Why cannot our
people have these facilities afforded them
Statistics show that the American people
are the least saving and economic OF
any people in the world. They have never
been taught 10 save, and the importance
Of this lesson is evidenced by the spread
! Of an unworthy jealousy of those, VINO,
by self-denial, have accumulated wealth.
| This is the spirit out Of which grows
anarchy and socialism. a neglect OF the
means to check IT may yet cause the Gov
eminent 10 regret when too late that
IL has not fcstered the spirit OF thrift
in the people. In no way can this be 90
wisely done as by the operation Of Gov
eminent savings banks In connection with
the post-ofiice. The work can be done
without costing the nation dollar. ana
the ultimate result may be the saving Of
millions; yea, possibly Of the nation IT.
| self. .. i. JACh9ON'