The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1897-12-01
TILE PUSTUFFICE REPORT.
Postmaster General Garys Annual Re-
view of the Work.
FAVORS POSTAL SAVINGS BANKS.

He Argues That They Would Develop
Thrift Among the People and Tend to
Promote Good Citizenship and the
Grow tn Of Patriotism-How to Stop
Loss in Carrying Second Class Matter.
WASHINGTON, D. G. CSpeciaD The first
annual report Of Postmaster General james
A. Gary to the President was made public.
Its feature Is the strong advocacy OF postal
savings repositories. Mr.. Gary says the
time is ripe for the establishment Of postal
banks, and that the addition Of well-or.
ganized system would confer groat boon
upon an large number Of persons and ultt-
mately be of inestimsble benefit to the
whole country.
The estimates Of the revenues and ex-
penditures for the fiscal year ending June
30, 1898. are: Estimated revenues, $92.-
698, ,922, ,760; deficiency, S6, ,048, 1888.
Mr.. Gary In his report touches on great
variety Of topics. In respect to second
GLASS mail matter carriage he urges the
enactment by Congress Of some measure to
remedy the injustice Of the present regu-
lations.
s'If this were done," he says, "there
would be an end to postal deficits and the
service could be enlarged and popularized
by a broad extension OF free delivery with
out infringement upon the general re-
sources of the Government, and eventually
result In the much desired reduction OF let
ter postage to one cent per ounce"
Mr.. Gary thinks no method Of perfecting
the organization OF the Postal Service has
proved more effective than the consoltda-
tion Of Postoflces. He regrets that there
are legislative restrictions on its develop
ment, and recommends the repeal OF the
ave-mile limit consolidation measure IN the
1896 Postal Appropriation bill.
saws the system, wherever tried, has been
generously appreciated, and that few ex-
penditures have conferred greater benefits,
dollar for dollar, than those for this sys-
tenn. The departments experiment in rural
free delivery, 1t Is said, have proved q
potent factor in attaining what should be
q chief aim Of government, the granting OF
the best possible postal facilities to the
farming class.
On the subject Of postal savings, Mr..
Gary says:
"Many millions Of dollars undoubtedly
are secreted by persons who have little or
no confidence in ordinary securities and
monetary institutions organized by private
citizens.
1T Is dead capital" Mr.. Gary goes on
to gay, "but II its owners could be inspired
with absolute confidence In the security OF
an investment 1t IS altogether probable that
the bulk OF this fund would find its way
into the channels Of trade and commerce.
II the Government undertook this task,
the service would undoubtedly be gladly
accented by the people. Their faith in the
Government Is unbounded.
"The proposition Is an accomplished
fact in nearly every country In Europe, in
the British dependencies of both hemi.
spheres, and even in Hawaii. In.Great
Britain 7,000, 900 depositors have upward OF
$550, ,000, 900 in savings accumulated during
thirty-fve years, and in ten years fewer
than 10000 Hawaiian depositors saved
nearly 81, 100000. These vast acoumula-
tions have been made with the least posi-
BILE loss to the governments, which guaran.
tee their payment, and with minimum Of
cost TO the millions Of dopositors.
more than third Of the postal savings
accounts In European offices are held by
minors, and over two-thirds by the most
humble callings, It Is essentially the bank
of this class. Postal savings would not
conflict with the savings banks, but would
encourage savings rather than accumula-
tions. The conversion OF money order offi-
ces into savings Repositories would soon
afford Infinitely more facility for receiving
interest bearing deposits than the interest
paying banks do now"
Mr.. Gray finds the most aggressive op-
ponents of the postal bank among the
private institutions engaged In somewhat
similar enterprises.
Speaking Of other countries, the Post
master says nearly every country
permits its most popular coin as the min
imum amount Of deposit, varying from
cents in India to 81 in Canada. Maximum
deposits vary from 1885 in France to $24S5
In New Zealand. Deposits over certain
amount are non-interest bearing. In sew
eral countries the surplus is by law In.
vested In National bonds. Both deposits
and accounts are usually small.
The average commission paid to Post
masters in countries where the postal bank
Is established is one cent per deposit. Any
account may be settled and withdrawn
from any depository in the country. The
telegraph is coming into use as means OF
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