Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1896-11-27
POSTAL SAVINGS BANKS.
\ Glance al Their Operations in For
cirp Countries.
baltimore

The experience ;of France. England. Bel
GUM. Sweden. Holland Russia Austria.
Hungary, Canada and Australia with postal
savings bank9 is 10 the effect t7at the masses
Of the people derive decided advantages from
having among them everywhere safe de-
rositories for their small savings managed
IN connection with THE Poatoffice department
1t is claimed in Behalf of such banks that
hey benefit a CLAUS not reached by other
awnings banks Their function IL thus de-
scribed by a distinguished French writer:
1T is the savings bank which has taught
the workman of ISance how he can become
a capitalist in mqderating his consumption
TO bring it within his production and in
fruitful place in complete security; from the
bank he learns how capital is formed and
how 1t can be produced. The savings bank
H., in fact a 1choo which seems to be
created for the apprenticeship of Industrial
business II teaches a man to govern him
elf, to resiot bad Or useless impulses and
% aids in building up n sound discretion
which is the first success in life" The
presence of facilities for saving and OBJ
tanning small interest in ones accumula-
tons affects the character as well as the
wealth of the people. Not only is caDital
created and the rainy day provided against.
but habits OF sohricty and thrift which are
elements of moral excellence are greatly
promoted.
In the November issue of the Annals of
Z tt american AtGOtllN OF lOlltlCll ana So
'ial Science there is an article by i. T. Heyn
N Postal Savings Banks" in which are
enumerated the advantages to be derived in
he writer's opinion, from adding a saving
bank feature to the operations Of our Post
Office department. These advantages arc
"a follows: Postal savings banks would fur
niSh safe place for the earnings of the
.aborinE classes and stimulate them to habits
of saving. At present such sums as they
hoard are kept out of use, to the
thus producing scarcity of money, whereas
If their savings were put in banks they
would be restored to active use. After
few years the amount deposited with tho
PoHtoilice department would approach ST.
900 100000, and if applied to the retirement of
government bonds would wholly eytingush
the public debt to bondhoders. Not only
would the moral tone of citizens be improved
by becoming depositors but the stability of
the government would be increased by the
practical interest deDositors would have in
Us welfare.
In the United Kingdom deposits are now
received at loco postolIices from a. m
to p m. Tho depCsitOr receives from the
postmaster n pass book, in which are re
1rded the deposits and Withdrawals. Any
sum from % cents up to $3.50 may be de-
posted in ono year, ana interest is paid on
any sum that is a multiple of s. and is
compounded. Withdrawals may be speed
ilv effected, by telegraph or otherwise. A
'epCaior may, if he chooses have his ac-
deposits invested in government
bonds. Small savings may lie made by the
purchase OF postage stamps. which when
they reach certain amount, are recorded
rs deposits. There are 5000 schools i'm |
which the children are encouraged to save
through the machinery of the postofice. a
clerk coming to the school at intervals to |
receive the stamps and furnish pass books. |
me aggregate deposits in postal savings |
banks at the end of 1893 was 100 mn |
he years increase being 500 500 600 Be |
sides this, G9,l31 dep. stors held S3l 500 ODO |
If government bonds One out OF every |
seven persons in England is now a dcpositor |
n the postal banks In 1898 there were |
;, lbs deposits made, aggregating SIZE
10000, and Withdrawals aggregated Sos
100 1000. Operations are conducted on a |
imilarly large scale in the postal savings
oaiures OF other countries Various public
iilclals have al times urged upon congress
he idea Of utilizing the pcstoniccs for the
Iccumulaticn as wCll as the transmission
If money, insisting upon its utility in the
agricultural districts, but so far congress
las not deemed the matter ripe for action