Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1897-10-23

able to answer almost any questions
which are asked me on the subject"
But, general can you not give me
some Of the features Of such banks?"
The idea replied General Gary.
would be to make the postofilces an
over the country banks of deposit,
where the people could put their saw
ings in small amounts and upon which
they would receive low rate Of in
terest Each deposition would have a
book, the postmastors would take the
money and credit the deposits on the
book, forwarding the money to wash
iugtou for Investment. In case the
man wanted his money. all he would
have to do would bs to coll upon the
postmaster, and 1t would be maid him.
There would OF course be certain re-
strictions as to the amounts OF de-
posits, the time allowed for withdraw
al and other things"
COULD DEPOSIT NGCKELs.
How small an amount would one
be able to deposlt?"
1.-The idea would be to make It very
| small in order that the poorest might
be able to use the system"
But how small. general? Would a
deposit of twenty-five cents be re-
ceiVcd?"
Il think the deposits might be even
smaller than that. We have dime saw
ings banks in Baltimore, which are
well uatrOuized, and | believe there
are some savings banks which take
| deposits of one nickel. In the French
postal savings banks deposits Of one
/ franc or twenty cents are received and
| in order to encourage the people to
| save, postage stamps are accepted as
| q deposit when their value reaches
| franc. In some Of the countries they
have stamps which can be bought and
pasted upon a card until an amount is
| reached equal to the smallest allowa-
| BILE deposit, franc, for Instance,
when II is credited ON the depositor's
| book. In some OF the countries they
have school banks connected with the
| savings banks. There are thousands
| Of school banks in France. In which
the children can deposit a cent or
more at a time, A record Of the
| amounts Is kept by the teacher and as
| soon as child's deposits have reached
a franc the credit is made on the postal
savings bank books. There are penny
banks in England, which are some
what similar"
"How much would be the largest
amount received2"
THAT is n question / am not ready
to answer" replied General Gary. II
can't say how much one person will he
allowed to keep on deposit. The limit
will probably be somewhere between
one thousand and five thousand dol
| lars. 1t would not be best to have
| the limit very high as the banks are
for small savings and not for the In
vestment of the money Of the rich"
THE INVESTMENT OF THE
FUNDS.
| what would Uncle Sam do with so
| much money? The sums deposited
| would be very great. The amounts in
| the English savings banks represent
| an Investment of $40 per capita. If
the same ratio should prevail here you
| would have seven hundred and fifty
| million dollars on your hands. What
could the government do with it?"
THAT Is another serious question"
replied General Gary. IF we were like
some Of the nations of Europe and be-
lieved in government debt 1t could be
put into government bonds. We think
| differently, however. We do not be-
lieve as Ben Butler did. that a nation
al debt is national blessing Stin
even If the debt were paid there Will