Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1897-04-09
THE POSTAL BANKS.
A CHICAGO POSTMASTER FA-
VORS GOVERNMENT BANKS.
The United States Government Should
Take Control OF the Banking Business
1t Was Adopted by Great Britain
In 1861.

Whenever there is talk of the gov
eminent taking over the telegraphs,
Immediately the claquers for the pres
emit monopolies everywhere about cry
socialism, says the Chicago Farmers
Voice Whenever there is talk OF es-
tablishing postal savings banks, the
claQuers of the opposing banking in
terests set up howl intended to drown
out the voice Of the people. But the
success of the postal savings system
in other countries, and the evident in
6uence they have exerted in the direc-
ton of thrift and economy, give Prom
se that a plan so full of advantage to
all members Of the community shall
not much longer be debarred.
There has never been q time when
there was greater need for a system in
this country than the present. Inc
sense of insecurity felt in banks in
many cities and towns, and the terror
ism of the burglar and highwayman,
combine to make the life of the saving
man burden. He turns to the safety
deposit vaults; but it is expensive to
pay rent there and so he is either COM
PEELED to spend a portion of his saw
ings or keep them about his home or
person, either of which he feels is UNI
safe.
How natural it is for the people to
turn to the government at such times,
is suggested in a recent newspaper in
terview had with Postmaster Washing
ton Hesing of this city. Mr.. Heslng
emphatically favored the postal saw
lngs system, and to illustrate its needs
related the following experience: The
panic, you know, was in 1898. In 1894
became postmaster, and l had an op-
portunity to observe that numbers OF
people had withdrawn their money
from the banks and other places OF de-
post and had purchased money orders
with it payable to themselves. AS soon
as the furry was over and feeling OF
confidence was in some degree re-
stored the orders began to come IN.
Many hundreds of thousands OF dollars
were thus banked, as it were, with the
department. Any one can see what an
advantage it would be to the public to
have been able to deposit small
amounts of money at any place by pro-
ducing a book, and to be able to with
draw it in the same manner at any
point. however remote"
In 1861 Great Britain adopted the
postal savings bank system. In the
following year the deposits amounted
to more than 100000 In 1890 they
exceeded $33S,OOO,OOO In 1867 Canada,
with a scattering population of $1,000"
900 put the system into force. June
30, 1895, there were 120,62S repositories
with $2700O000, to their credit. Other
countries make showings quite as ia:
vorable.
The farmer is especially interested in
the postal savings banks. How many
millions might to day be in them to
the credit of American farmers had
they been established, as they ought,
years ago, no one may compute. But
all should unite in securing the estab-
lishment of the system now.
Instead of the governments going
out of the banking business, as is de-
manded by the bankers, there is a
growing sentiment in favor of its taxi
ing complete control of the financial
and currency system of the nation.