St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1897-01-23
POSTAL SAVINGS BANKS.

POSTAL SAVINGS BANKS.
4 Glance u Their Opsratioas In Fofslss
C0untr1oA /
The experience Of France. England.
Belgium, Sweden, Holland. Russia. Aus
tria, Hungary, Canada and Australia
with postal savings banks 10 to the ef-
feet that the masses Of the people de-
rive decided advantages from having
among them everywhere safe deposi-
tories for their small savings managed
in connection with the post office de-
partment. 1t is claimed In behalf OF
such banks that they benefit class not
reached by other savings banks. Their
function il thus described by dis
t;n9uished French writer: ut is the
savings bank which has taught the
workman of France how he can become
capitalist in moderating his con-
sumption to bring it within his produc-
ton. and in amassing the excess, called
savings, in a fruitful place in complete
security: from the bank he learns how
capital is formed and how It can be pro-
duced. The savings bank is, in fact,
school which seems to be created for
tn. apprenticeship of industrial BUSH
ness. It teaches a man to govern him.
self. to resist bad or useless Impulses
and SO aids in building up sound dis
erection, which is the first success IN
life" The presence OF facilities 1or
saving and obtaining . small interest
on ones accumulations affects the
character as we'll as the wealth OF the
people. Not only is capital created and
the rainy day provided against. out
habits of sobriety and thrift. which are
elements Of moral excellence. are great
~ promoted.
In the November issue Of the ANNALS
If the American Academy OF Political
and Social Science" there is an article
bv E. +. Heyn on Postal Savings
Banks" in which he enumerated the
advantages to be derived. in the writer's
opinion, from adding saviRgs bank
feature to the operations OF our post
office department. These advantages
are as follows: Postal savings banks
would furnish safe place for the earn
in9s of the laboring classes and stimu-
late them 70 habits OF saving. AT
present such sums as they hoard are
kent out OF use, to the aggregate
amount of hundreds Of millions. thus
producing a scarcity of money, whereas
il their savings were put in bank they
would he restored to active use. After
few years the amount deposited with
the post Office department would ap,
proach $1,000, GOO. 900, and If applied to
the retirement of government bonds
would wholly extinguish the public
debt to bondholderA.-Not only would
|. the moral tone Of citizens he improved
by becoming depositors, but the sta
, Liiity of the government would be in
creased b, the practical interest de
rositors would have in its welfare.
. In the United Kingdom deposits mr.
now received at 1900 post offices IRON
: nine a. m. to six p. m. The deposito
} receives from the postmaster pass
} book, in which are recorded the de
J pos:ts and Withdrawals. Any sun
. from Is cents up to $3.50 may be deposit
ed in one year. and interest is paid OF
any sum that is multiple Of S. and !
compounded. Withdrawals may b
speedily effected, by telegraph 0
otherwise. A depositor may. If hi
chooses. have his accumulated deposit
> invested in government bonds. Emal
savings may be made by the purchas
of postage stamps, which. when the
roach a certain amount, are recorde
!. as deposits. There are 5000 schools l
which the children are encouraged t
J. save through the machinery OF tn
y post Office, clerk coming to the schoo
at intervals to receive the stamps an
= furnish pass-books. The aggregat
deposits in postal savings banks at tn
end of 1898 were $4O2, 500 900. the year
increaee, being $23. s0O, 900. Besides Thu
60. 1871 depositors held $31 100000 {
:: government bonds. One out OF ever
seven persons in England Is now q d
positor in the postal banks. In 1ss
:, there were 9.s3s, 1893 deposits made. Il
: eregating $123. O0O. 600, and Withdraw
= ais aggregating sos, SOC. 900. Oper'
= tons are conducted ON similarly lare
d scale in the postal savings features
= other countries. Various public on
o Gals have at times urged upon congre'
' the idea Of utilizing the post Offices Il
% the accumulation as well as the tran
Is mission Of money, insisting upon i
. utility In the agricultural districts. b.
70 90 far congress has not deemed the ma
a -. .;v>> &cr actinn Sun.