The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-11-15
Mr.. GARY RIDES HIS HOBBY.
STRONGLY FAvORs POSTAL saw
IxGs BANKS IN HIS REPORT.
ne Vethaes Many 81 the Reasons
Why This GoveFnnent should
FOLLOW . Policy Which Has
Proved . MiAespreaa succes..

a. rary 70 the president was made public
sohisnt. It's feature is the strong aiyo-
cacy OF postal savings repositories.
scheme over which Postmaster General
Gary has worked for several months In
the FORMULATION OF plans TO present to the
president and congress. He says the time
IS ripe for their establishment and tina,
the addition OF weii-organized system
would confer great boon upon a large
number OF people and ultimately be of in
esumaose benefit TO the whole country.
Foilowing Is an abstract OF the report:
The increase OF postal deficit for 1897 Is
largely a reflection OF the depressed con-
sdftions which prevailed all over the Uni
ted states the first three-quarters OF that
period. There have been no extrava-
gances OF expenditures save that obligated
by law"
Reiterating the injustice inflicted both
upon the postal reveSues and the people
by second-class mail matter carriage. and
recommending the enactment by congress
OF some measure to remedy the wrong.
similarly pointed out by past postuasters
general. the report continues:
IF this were done there would be an
end to postal deficits, and the service
could be enlarged and popularized by a
broad extension Of free delivery. without
infringement upon the general resources
OF the government and eventually result
In the much-desired reduction OF letter
postage to l cent per ounce"
NO method OF perfect organization OF
the postal service has proved more effec-
tive than the consolidation OF postofiices.
Legislative restrictions on its develop
ment are to be regretted, and repeal of
the five-million-limit consolidation meas
ure in the 1896 postal appropriation bill, is
recommended
THE experimental free delivery has
been generously appreciated: few expen-
ditures have conferred greater Dement'S IN
proportion, and il has unquesuonaoly
proved a potent factor in attaining what
should be a chief aim of government, the
granting of the best possible postal faclu-
ties TO the farming class"
The report reviews in detail the opera
tons of the various branches OF the de-
partment. The portion on the subject or
postal savings in brief is as follows.
MANY millions OF dollars are unooInt-
edly secreted by people VINO nave h'tie
or no confidence in ordinary securities ana
monetary institutions organized by private
citizens. 1t is dead capital, but II Its own
ers could be inspired with absolute con-
fidence in the security or an investment,
1t Is altogether probable that the ouiA OF
this fund would find its way into the
channels OF trade and commerce III the
government undertook this task the serV-
ice would undoubtedly be gladly accepted
ment is unbounded. Their little savings,
which separately could hardly be put out
at interest, would amount In the aggre-
gate to a sum that could be invested to
their advantage. II would tend to cuiti-
waite thrift i'm large class, realizing the
advantage of depositing with the govern
ment. instead of wastefuily and uselessly
expending II. 1t would tend to better re-
lationship, bringing into closer relation
he ayf
developing practical and enduring pa
triotism This growth OF patriotic sent!-
ment and good citizenship constitute
powerful appeal to craftsmanship TO make
a way for those beneficent consequences.
'.The proposition is an accomplished fact
in nearly every country In Europe in Brit
ish dependencies of both hemispheres,
and even In Hawaii. In Great Britain
1000 900 depositors have upwards Of $780,
0o0. 600 in savings. accumulated during thir-
ty-fve years. and in ten years fewer than
TO- go Hawaiian depositors saved nearly
81 600 011 Deposits in Canada in twenty
years exceeded s22.o0o.0oo. These vast ac-
foundations have been made with the
least possible loss to the government
which guarantee their repayment and
with a minimum OF cost to the millions OF
depositors.
More than a thousand postal savings
accounts in European Offices are held by
minors and over two-thirds by the most
humble callings. 1t Is essentially the bank
of this class. Postal savings would not
conflict with those savings banks but
would encourage savings rather than ac-
cumulations. The conversion OF money
order offices into savings repositories
would soon afford infinitely more facility
for receiving interest-bearing deposits than
the interest-paying banks do now.
THE most aggressive opponents are
among the private institutions engaged in
somewhat similar enterprises, though as
sociations of the large cities recognize in
It valuable feeder 10 the financial cur
rents of the country. Security, and not the
rate Of interest is the primary and es-
sentia! condition of stch a system and
bonds Of states. counties and muncipali-
ties and real estate furnish an illimitable
field.
Comparing other countries" the post
master general says, nearly every coun-
try permits its mos. popular coin as the
minimum amount Of deposit. varying from
5 cents in India TO cent 20 Carada. A
maximum deposI. varies from s2e5 in
France to 50 s3s IN New Zealand. Deposits
over the amount are non-interest bearing
and In several countries the surplus is by
law invested In national bonds. Both de-
pcsits and accounts are usually small.
France had profit Tn 1895 of $40 go in
handling 10000 accounts, aggregat!ng sI45.-
co,eo after paying per cent interest.
Great Britain earned a surplus OF $50 coo
after paying 2is per cent fnteres, on 49,
"" accounts. aggregating s6510010 The
average commission paid 10 postmasters
Is / cent per deposit. Any account nav
be settled and Withdrawn from any deposi-
tory In the country. The telegraph ia com
ing into use as means OF withdrawal