The Mena weekly star., 1897-01-13
THRIFT AND PROSPERITY.


 cerning its 'paternalism" or by the foolish argument that the custom of saving results in scarcity of money and a consequent stagnation of business enterprise.
 The postal savings system is 'pater- nalistic" in the same sense that the postoffice system is. It provides for the multitudes certain valuable oppor- tunities, of which they may avail themselves or not at pleasure Pater- nalism, in its essence, implies Q patri- archal interference in the social. economic and business affairs of men. The postal savings bank offers no such interference It merely gives an op- portunity, and every individual citizen is himself the judge whether he shall or shall not take advantage of that opportunity.
 As to the argument that money-sav- ing is merely tying up of money which might otherwise be in circula- tion, one needs only to point to the workings of the postal savings system in other countries, where it has great ly conduced to prosperity and content.
 Suppose, as has been suggested, that the people of small and remote com munity, after purchasing the neces- sities of life, store their savings in the postal bank. Suppose, also, that no regulation of the proposed scheme is provided by which that money could be invested throughout the state or district by state or district sayings bank directors.
 Is any one so blind as not to sec that whenever a farmer or a merchant or a shoemaker accumulated enough say ings he would be eager to find an in- yestment for his savings that he would gladly take his deposit in the federal vaults drawing a moderate but sure interest, to put it In factory or store or some other safe enterprise drawing him higher profit?
 Most of the protests against the postal savings bank descend from the exploded theory that thrift necessarily means lack of circulating money and stringency in the markets The re- suit in effect would be quite the re- verse. Chicago Record.
 The foregoing from the Chicago Record Is quite to the point and presents strong arguments in favor of a reform measure very much needed in this country. We have previously referred to the beauties of this system in these columns and much more could be sail, while it is very hard indeed for anyone to find an objection or frame an argument against it.
 Nearly all writers and thinkers on financial questions recognize the necessity of having an elastic system. one that will automatic ally, as it were, retire or contract it's volume at seasons when money is too plenty. and come out for use again when needed. A postal savings bank system would, in measure, naturally give this elas- ticity to our business, for when individuals had more money than they had immediate use for they could deposit it at their post office and hold instead the certificate of the government, bearing a low rate of interest, and when at any time they could use the money to better advantage or profit they would merely have to present the certificate to any post-office desig- mated as a depository, receive their money and accrued interest and put 1t to use.
 Another feature of very great importance connected with this system is that it would give our government the use of vast sums of money at very low rate of in terest and that interest to our own citizens instead of to foreigners as we now pay it when borrowing money to pay expenses of the