Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-12-10

Il few months as has this one. The Post
master General promised that he would
examine the subject and report upon 1t.
He has Endorsed the general project in IA
very strong and admiral BILE argument, and
1 expect he will return the bill to the com
mittee soon with specific recommendations.
The chances of this Congress adopting
such a measure are increased on account
of the fact that no important party legis-
lation will probably be seriously consid
cred or pressed. While the peoples party
is the only party that has ever declared
for postal savings hanks i'll a national
platform. yet the interest in the question
extends to all parties, and ii has long ceas-
ed to be a party question, if it ever was
such question
What do you regard as the chief objec
lions that will be urged to such measure
in this country and from what source viii!
they Gomez" Senator Butler was asked.
The Directors.
THE objections will be more in the shape
of opinions than in the form of arguments
and facts, and necessarily so, because
there are no arguments against the plan
The objections can come only from short
sighted bankers and possibly from few
mossback politicians who kick against
everything new, even if il is good
viii the bill be fought as being in line
with paternalSm?
That objection has been made by part
Of the press that has been hostile to the
lection admit it is good thing. Such an
objection is absurd. The Post Office De
partment is paternalism pure and simple
Would any man favor putting the Post Of
lice Department in the hands of private
enterprise and lose all the benefits coming
from governmental operation simply to
humor the senseless prejudice or absurd
sentimentalism called paternalism? Gov
eminent itself is paternalism. The only
question Is how far the welfare of the
people IS advanced by extending the func
tons OF government. Any man who Is OPP
posed to monopolieS must be opposed to
the operation of any national MONOPOLY
by private enterprise
Have you attempted poll of the Senate
on the measure?' Mr.. Butler was asked.
No: but l have been voluntarily assured
by influential men of all parties that they
favor the proposition and would assist in
its adoption
What are the chief differences between
your bill and the Chicago Record bill intro
duced III the Senate by Mr.. Mason?"
Differences In Bills
I'm the first place the Record bill does
not allow any deposit smaller than 81
This would deprive large majority of the
class Tor whose benefit the postal savings
banks would be established from ever de-
posting. 1t is an old adage and a very
true one that if We take care of The men
mes the dollars will take care of them
selves My bill provides for deposits as
10" as 10 cents, with means by which
people could buy stamps with pennies un-
vi ~ cents is accumulated. Those who
would he improvfdent If not encouraged to
save small amounts will rarely have a dol
lar 10 deposit The reports of the postal
savings systems i'm foreign countries show
that Very nearly half of the money demos
ited IS IN amounts less than 81 and that a
large majority of the number of deposits
are III smaller amounts. In Austria % Der
cent OF the deposits are in amounts less
.ilin - cents, While - per cent are in
The second difference IS that the Racorl
LII PROVIDES for only = per cent on de-
posts My bill provides for -, Der cent
Surely this is low enough France paws
~ per cent, England pays ~ and ONLY re
Gently paid per cent. Germany pays =,
per cent, Canada 3. and Until recently 4 per
cent. In fact. the average interest paid
by the countries of the world having postal
savings banks is 3ls per cent. My bill
provides for the lowest rate paid by any
country. Surely our people are entitled to
that much. Besides. the average interest
paid by private savings banks in the United
Ject TO 2l2 per cent being paid by the gov
eminent. for if they will establish conf
dencc In the mind of the public in their
| II stitutions they would get all the deposits
| instead of the United States having them.
The third chief difference is that my bill
provides that the government upon the re-
quest OF any depositor having $40 or more
| to his credit shall either purchase for him
government bonds or Issue to him postal
\ savings bank bonds bearing "a per cent
| interest Chat is, cents n month iuteres.
| en- every SO bond) and that the proceeds
| shall be used in liquidating the national
| debt. The result of this would be that in
| the next five or ten years the national debt
| would he transferred from spectators into
! the hands OF the masses OF our people. We