The Marietta journal. [volume] (Marietta, Ga.) 1866-1909, 1897-02-04
oSTAL SAVINGS BANKS.

osTAL SAVINGS BANKS.
n They Operate In the Countries
Across the Ocean.
he experience of France, Eng
Belgium, Sweden, Holland.
"a, Austria, Hungary, Canada
kastralia with postal savings
ldks is to the effect that the masses
the people derive decided advan.
kea> from having among them
here safe depce;tories fer
|all savings, managed in.
n with the postoffice de-
Ut is claimed in behalf of
that they benefit class
" other savings banks.
is thus described by
IA French writer:
vinga bank which has
4 Norf OF France how
become !; Hist, in mod
his cons ton to bring it
h his proddcti6n ana in amass-
the excess, called savings. From
Re bank he learns how capital is
Egsformed and how it can be produced.
4 The savings bank is in fact school
| which s. Inns to be created for the
kapprex Hip of Industrial bust
I ness. aches q man to govern
.:e,A I.
pulseaS3nd 30 aids in building up a.
sound discretion, which is the first
sl1ccess in life. The presence of ia
cilities for saving and obtaining
small interest on ones accumu1a-
tons affects the character as well as
the wealth of the people. Not only
IL capital created and the rainy day
/ pr0xi8ed against, but habits of So
hgiet md thrift, which are ele-
aq pnoral excellence, are great
& noted.
In ia !" Annals of the American
& caderny of Political and Social
Scienoev there us an article by E.
l Heyn on Postal Savings Banks"
LIN which are enumerated the advan-
4 tages to be derived, in the writer's
opinion, from adding a savings bank
/ feature to the operations of our post
! office department. These advantages
are as follows: Postal savings banks
| would furnish safe place for the
earnings of the laboring classes and
/ stimulate them to habits of saving
At presentssuc sums as they hoard
are kept out Of use, to the aggregate
amount ofsahundreds of millions,
thus producing a scarcity of money,
whereas If their savings were put
in bank they would be restored to
active use.s After few years the
amount deposited with the postofIice
department would approach 81, OO0,-
100000, and if applied to the retire
ment of government bonds would
wholly extinguish the public debt
to bondholders. 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 inter
est depositors would have in it's well
fare.
In the United Kingdom deposits
are now received at IL, 900 postoffices
from a. m. to p. m. The deposit
or receives from the postmaster a
passbook, in which are recorded the
deposits and Withdrawals. Any
sum from cents up to $3.50 may be
deposited in one year, and interest is
paid on any sum that is a multiple
of SIS and is compounded. With
drawals may be speedily effected, by
telegraph or otherwise. A depositor
may, if he chooses, have his accu-
mulated deposits invested in gov
eminent bonds. Small savings may
be made by the purchase of postage
stamps, which, when they reach a
certain amount, are recorded as de-
posits.
There are 5000 schools in which
the children are encouraged to save
through the machinery of the post
Office, a clerk coming to the school
at intervals to receive the stamps
and furnish passbooks. The aggre-
gate deposits in postal savings banks
at the end of 1898 was $4O2, 500, 900,
the years increase being $23, 800
600. Besides this, 50, 131 depositors
held $31, 5000 of government
bonds. One out of every seven per-
sons in England is now a depositor
in the postal banks. In 1898 there
uare @ S2S 100 6ai,ocitc mazda oo,orro