The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-05-24
POSTAL SAVINGS BANKS.
Argument Against Them-More Self
Reliance Needed by Americans.

Is
Reliance Needed by Americans.
Washington May 24.-'"The sooner the
American people come to the conclusion
that it is their duty to support the gov
ernment and not the governments duty
to support them, the better it will be for
both the country and the people"
This was the remark of Acting Comp
troller of the Currency George NJ. Coffin
in discussing the movement to inaugu-
rate a system of postal savings banks in
the United States. The post office de-
partment is in constant receipt of COM
rnunicatfons from western farmers urging
the propriety of inaugurating such a sys-
tenn. and it is but few days since that
President Mckinley sent to congress a
communication from the secretary of
state, in response to senate resolution
asking for the consular reports bearing
upon the operation of postal savings
banks in foreign countries. The question
is one which has been agitated for years
Postmaster General Wanamaker gave
considerable thought to it, and was at
one time of the mind to send a special
commissioner abroad with special in
structions to investigate the workings of
the system.
A communication from Kansas man
asserting that postal savings banks
would be of great benefit to the
western farmers was shown to Acting
Comptroller Coffin and after reading it he
made the remark above quoted lie then
went on to explain:
''Thre is no use of establishing postal
savings banks in the west and south until
the people of those sections have some
savings to deposit. There are four causes
which govern the per capita distribution
of capital in any section. They are: %
The character of the population; % the
density of the population; 90 the diver
sity of the population; "a the natural adj
vantages of soil and climate. I have re-
Gently prepared table which demon
strates this quite clearly. It gives the
conditions existing in all states and ter
ritories of the United States One ex-
IRENE of this table is found in the state
of Rhode Island With energetic
white population, having a density of 312
persons to the square mile, climate
stimulating to activity and energy with
a large number of manufacturing in
dustries. and with all the facilities for
cheap transportation which can be afford
ed by numerous seaports and network
of railroads. this state has a banking
capital of S371.62. The other extreme is
Arkansas, with a scattered population of
rs persons to the square mile (25 per cent
being negrOes), engaged in the culture or
cotton chiefly, in a warm climate and dis
tant from market centeTS, lillS St4te mas
a banking power of but $4-S6 per capita.
But even if the people OF the west and
south had sufficient savings to make
more banks among them necessary, or at
least desirable, the best thing for them
is mutual savings banks, SUCH as are be-
ing so successfully operated in the east
| ern and middle states chiefly. The ex-
| tent to which these institutions have
grown in this country is marvellous Dur
/ total danOSifs in
banks OF this character was S1,66S, on, 662
| The total number of these depositors was
| 1854, 5O3 These banks have no capital
| stock, and the total amount of the money
| they earn goes to the depositors, less the
| amount of operating expenses, which is
| from one-fourth to one-third of l per
cent. During the past year the deposit