The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-10-15
HOW TO SAVE.
Postmaster General Gary De
clares Himself
UnequiVOcally in Favor of Pos
tai Savings Banks.
Is WORKING ON APLAN
Will Have it Ready for Congress
When it Meets.
Channel for Investment the
Greatest Stumbling Block.

eraI Gary has been interviewed on the
subject of postal savings banks. When
his views were requested he asked
abruptly:
How much money have you got in your
pocket?"
only five or six dollars, and need
that" discreetly replied the newspaper
interviewer.
''Oh. don't want to borrow it, said he,
which raised a laugh at the expense of
the correspondent.
The sum of money you have in your
pocket represents the amount held by
each Individual oman. woman and child
in this great republic. you can see
that as far as money in the hand or
pocket goes, you are a pretty respectable
representative of the average good citi-
zen, and the average good citizens are
the bulwarks of the nation
The postmaster general, to illustrate
his text, here recited the following lines
from the Deserted Village:
Princes and lords may flourish or may
A breath can make them. as breath has
made;
But a bold peasantry, their country's pride
When once destroyed can never be sup
piled.
Ye friends to truth, ys statesmen who
survey
The rich mans joys increase, the poor's
decay,
'Tis yours to judge how wide the limits
stand
Between a splendid and a happy land
now continued Mr.. Gary, "of course
when say bold peasantry,' am merely
taking a poeticaI license. I mean the pro-
ducers. the laboring classes, and all of the
plain people in the walks of every occupa-
ton. Each man, woman and child in the
United States has on average about
S. in his possession. There are, I believe,
about seventy millions of people in this
| country.
Therefore there is scattered among
the people about $95O,OOO.OOO. 1t is not
| locked up in banks, it is not invested in
real estate or in any business enterprise,
/ but it is loose among the people. An old
| woman may have few dollars tied up
| in the corner of a stocking; an honest old
/ farmer may have a few hundred hid in
the rafters of his barn or in tomato cans
under the floor of his dwelling.
Now, why not establish a secure place
for their savings? Many an old farmer
VIII - dAIdA0 ~ put his AlAOAlSy III Inc
bank would Willingly trust it to Uncle
| Sam, for your average farmer and plain
| citizen is patriotic and has confidence in
! his government. They would be perfect
Iy content with depositing their savings
| in a secure place and with receiving a
small rate of interest. The individual
who daily or yearly lays by some of his
earnings makes a better and a more con-
tented citizen than he who is improvident.
Soon he will be able to build little home.
The cities of Philadelphia and Baltimore
are striking examples of what the build
ing and loan associations have accomp-
lished in this line
1.-The man who owns home will pro-
tect it with his life. He is a foe to an
archy. With the millions of savings of
the plain people safely invested with the
government there would be no more bond
issues. no more anarchy. Where would
Organism be then? Not a tooth in its
skull to mock it's own grinning.'
Mr.. Gary here entered upon a more
serious discussion of the details of the
proposed system. There are a number
of problems in connection with the sub
ject that are not to be easily solved, but
I hope within the next few weeks to have
worked out the details of a system that
will be practicable and promise satisfac-
tory results.
''They have a. beautiful system in Can
ada, and the postal savings banks of Eng
| land have been successful ever since they
were first established. I do not believe,
| however, that either system could be
adopted outright in this country because
/ of the different conditions existing here.
81 would like to make the system so
perfect that a small boy who wanted to
ava41 himself of it's advantages could de-
/ posft his nickel and so that all classes of
! people to whom the system might be ben
| eficial could make use of it. As a gen
| eraI outline of the plan, think the gov
| eminent should accept the deposits and
/ invest the money in safe and reliable in
! terest bearing securities. This would
| enable the department to pay interest up
on all deposits at the rate of at least
per cent per annum and leave possibly a
surplus for operating expenses.
TT is in this connection that one OF
! the chief problems arises. For several
| wears to come it would be easy to invest
the money deposited with the department
| in government bonds. form of security
| in which there is no risk and the interest
| payments are assured. But 1t is gener-
| all believed that in the course of time
the national debt will have been paid anc
| there will be no government bonds upor
the market. Then the question would
arise in what form of securities could
the money be invested without risk and
| so as to secure an assured income? The
system must depend to a very great eX
tent for it's success upon the ability of the
postmaster general to invest the money
intrusted to his care in a safe manner
IF YOUR child has thin, pale cheeks
uncertain appetite and unrestful sleep
it has worms, and curing it with strong
| medicines only makes conditions worse
| nv irritating it's delicate stomach
| Ear II ic h11i