Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-11-29
OFFICIAL SAVINGS BANK.


The CentfalaIdea in Regard to the
Proposed Post once Treasury.
To the Editor ofHhe Evening Star:
Making use Of tho popular post office in
stieution as popular savings Institution is
question that the nation is getting very
much interested in.h do not use the word
BANK because in nothing ought the meas
ure TO resemble a bank, except in it's de-
pcsit feature. It ought, rather, to be called
the post Office (savings) treasury; the gov
eminent, through It's post offices, merely
acung as treasurer, like county treas
urer does, or the United States treasurer
ooes, TO safekeep the funds intrusted the
oeposits OF the poor people who use those
post onces in which to deposit from their
weekly earnings the surplus they save be-
yono what Is required for their weekly
livelihood. A general error of view in con-
sloer1ng this subject is to presume that the
government must positively make use of
the moneys received, and, whether it needs
the savings for it's own use or not it must
perforce pay interest on them-though per-
maps at quite small rate-just for under
taxing the trouble of receiving the deposits
ana accounting for them whenever demand
ca. rms Is an incorrect view of the SUBJ
Ject: On the contrary, the government
ought to receive small percentage from
tne oepositors to pay expenses of the saw
lnes procession the same principle that 1t
charges for issuing money orders, which is
essentially a parental practice, not at all
necessary to the governing Of the country.
Inc truth Is that the people do not con-
template the postal savings treasury as
a permanent investment, nor is it desirable
on poiftico-economic grounds that the great
aggregate saved-up wealth Of the plain
people should be withdrawn from the bus
iheSs enterprises of the country for any
length nd no
II no interest on deposits was allowed; for,
as soon as a few hundred dollars CT saw
ings were safely accumula ted, self-interes:
would dictate that the amount should be
Withdrawn and put into the various enter
prises OF business life. The one point, the
whole point, Of the postal savings
treasury that preponderates In the
i'm the han as OF th people ha
which they know never dies and never runs
off. and which Is always honest, however
some of its officials may fail in that virtue
IN Its hands their little deposits are abso-
lutely safe. Enthusiastically safe; that If
government official turns thief it matters
not. the government is sure to return to
MIN every dollar of the poor mans money
1t received from him. This is the leading
idea of the people in their expressions of
desire to use the post offices-the money or
der post offices only-in which to deposit
their weekly savings; that in the custody
OF the government they are safe-safe.
Wnere no th1ef can break through and steal
nor trustee or bank official make off with
the funds A postal savings treasury-not
Handicapped on these safety lines only,
would be boon to the common people; and
the more of boon to the country that
there would not be permanent boarding
UP for a little interest OF the surplus saw
tngs of the masses. Such permanency of
investment in the vaults of the government
is not desirable for many reasons: and
therefore no interest on deposits should be
allowed. THOMAS FOSTER.
November 26, 1897.