The midland journal. (Rising Sun, Md.) 1885-1947, 1897-12-03
Postal Savings Banks.

| AS the MIDLAND JOURNAL has remark
ed heretofore postal savings banks are
having quite a boonl-on paper Post
Master General Gary has placed himself
at the head of the postal bank procession
which is, like calathnmpian band, de-
termined to make itself heard In his
argument the Post Master General says :
That Postal Savings Banks would put
the breath life into the dead money ofthe
United States Money not in use is the
deadest thing in the universe. There are
many millions of such dead money in the
country. 1t is boarded away i'll stockings,
buried under the hearthstones, tucked
away behind the rafters and planted here
and there in the earth, because the owners
have no faith in private savings institu-
tons They have faith in the govern
ment, and they would bring the money
out and deposit it in the Post Savings
Banks.
lust how much of the boarded money
there is he does not pretend to say; there
may not be less than S. per capita, or
total OF S35o,ooo. 900; such boards are
usually greater than is supposed. Some
of them amount to hundreds and some to
thousands of dollars. Getting this money
into circulation would bring better times.
If we had $3.50, 600, 900 thrown into circu-
lation, we would have an era of prosper
ity such as the country has never SEEM
The above is the plan of one officer of
Mr.. McKirley's cabinet to bring that
good times which Mark Hanna said
Mckinley was the Advance Agent of.
Mr.. Secretary Of the Treasury Cages
prescription for good times is entirely
different. He contends there is too much
money, and that the OBSERVATION-DISCLOSURES.
900, oco of them; and the Sherman notes
$3.50, 900, 900 of them; and the silver GER
tifcates and silver dollars-upwards of
500, 900, 900 of them, should all be abol-
ished and bonds issued instead. That
there is entirely too much money, which
is causing hard times; partly owing to the
peoples distrust and fear of this danger
Gus government money. Mr.. Gage con-
tends that bank currency would be far
preferable to government money and
banks safer than government repositories.
Here is wide divergence of opinion be-
tween two important cabinet officers of
MIR. McKinley's administration.
The contention or differing elements of
this administration does not stop here.
Mr. Mckinley, so his official organs tell
us, has still a different scheme. The
Presidents plan is to lock up and keep
from circulation all of these notes that
are presented at the treasury, until gold
is offered in exchange for the currency.
This, like Mr.. Cages theory, presumes
that there is too much money in circula-
ton, while Post Master General Gary
assures us there is $3.50, 900, 900 buried in
the earth, hid away behind the rafters,
secreted in old stockings, buried under
the hearthstones and in other such recep-
tacles used for holding money of the poor
people, which if tempted out by postal
savings banks would start such boom
i'll business as the advance Agent"
failed to start.
In addition to these conflicting admin
oPihlOHo VIC dlC CONSTANTLY H.
formed by the Wall street papers that
money is piling up in New York banks,
that there is plethora of money and it
ought to be destroyed, all of which is
strangely at variance with Mr.. Post Mas
ter General Gary's old stocking deposits.
The Indian said when he saw a mail
pouch locked, ugh Lock on leather
make Indian knife laugh" So these
currency schemes make sensible people
laugh. 1t matters but little to the money
class who have the government by the
leg, as Cleveland expressed it, whether
postal savings banks would be good
thing for tie people or not, they are not
going to permit any such innovation to
take place. 1t might be dangerous TO
start such ball, though an advantage to
the money class, as it certainly would be,
the first step might induce the people to
insist on having something else. Like
Oliver Twist they might ask for more "
The miles of petitions and published
opinions of Professors" and other func
tionaries at the head of institutions with
high sounding names that are being pre-
pared to ask Congress for postal savings
banks, will have no more influence on
that body and the administration than
pouring water on a ducks back for the
purpose of wetting the fowl The purpose
is popular fad to please the people, who
are easily fooled, for season