The Wichita daily eagle., 1896-12-16

= CApltdilSt IN mOQerduuS HIS CO11
sumption to bring It within his produc-
ton. and in amasxing the excess, called
savings, in fruitful place in complete
| security; from the bank he learns how
capital is formed and how it can be pro
duced. The savings bank is, in fact. a
school which seems to be created for
the apprenticeship of industrial busi-
ness It teaches a man to govern him
SELF, to resist bad or useless impulses
and SO aids in building up sound dis
cretion, which is the first success in
life" The presence of facilities for
saving and obtaining small interest
on ones accumulations affects the
character as well aa the wealth OF the
people. Not only Is capital created and
the rainy day provided against, but
habits Of sobriety and thrift. which are
elements Of moral excellence, are great
ly promoted.
In the November issue of the annals
Of the American Academy Of Political
/ and Social Science. there is an article
by E. T. Heyn on Postal Savings
BanlA" In which he enumerated the
advantages to be derived, in the writer's
opinion, from adding q savings bank
feature to the operations OF our post
Office department. These advantages
are as follows: Postal savings banks
would furnish a safe place for the earn
ings Of the laboring classes and stimu-
late them to habits of saving. At
present such sums as they hoard are
kept ont Of use, to the aggregate
amount Of hundreds Of millions, thus
producing scarcity of money, whereas
if their savings were put in bank they
would be restored to active use. After,
few years the amount deposited with
the post ofnce department would ep-
proach $1,000, ,0oo, 900. and if applied to
tho retirement Of government bonds
would wholly extinguish the public
debt to bondholders. Not only would
tho moral tone of citizens be improved
by becoming depositors, but the sta
bility of the government would be in-
creased by tho practical interest de-
positors would have in its welfare.
In the United Kingdom deposits ara
now received at 1900 post Offices from
nine g. m. to six p. m. The depositor
receives from the postmaster pass
book, in which are recorded the de-
posits and Withdrawals. Any sum
from 25 cents up to $3.50 may be deposit
ed in one year. and interest is paid on
any sum that il . multiple Of S. and is
compounded. Withdrawals may be
speedily effected, by telegraph or
otherwise. A depositor may, il he
chooses, have his accumulated deposits
invested in government bonds. Small
savings may be made by the purchase
Of postage stamps, which, when they
reach q certain amount, are recorded
as deposits. There are 5000 schools in
which the children are encouraged to
save through the machinery Of the
post Office, clerk coming to the school
Rt intervals to receive the stamps and
furnish pass-books. The aggregate
deposits in postal savings banks at the
end OF 1893 were $4O2 800, 900, the years
increase being $23 100000. Besides this,
6o,131 depositors held 31,50o,oo OF
government bonds. One out Of every
seven persons in England is now q de-
positor in the postal banks. In 1893
there were 9,s3s,19s deposits made, ag-
s123 3,o00. 900. and withdraw
ais aggvegating s1os, 100000. Opera
tons are conducted on similarly large
scale in the postal savings features Of
other countries. Various public OH
cials have at times urged upon congress
the idea of utilizing the post Offices for
the accumulation as well as the trans
mission Of money, insisting upon It's
utility in the agricultural districts, but
30 far congress has not deemed the mat
ter ripe for action.-Baltimore Sun.