Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-11-22
POSTAL SAVINGS BANKS
Widespread Interest in the Proposed Under
taking.

Postmaster General Gary is receiving
many letters regarding the postal savings
bank proposition, strongly urged by him in
his annual report Many people through
out the country have written him, COM
menting on this projected radical extension
Of the postal service, and have submitted
some suggestions calculated. in their opfn-
len, to make the scheme more feasible. As
whole, the correspondence indicates a
rather general commendation, and some
Weil-knoWn economists and financ.ers num-
bered among the Postmaster Generals
friends, and who have heretofore opposed
measures of this character, have, in letters
just received. given a qualified Endorsement.
Postmaster General Gary expects some leg
isi3tion by Congress on this subject pos
sbiy at the next session, and believes that
the extended discussion which has been
given ii Throughout the country will render
material assistance to this end. In the
course of an interview with the Associated
Press today, Mr.. Gary made an answer TO
some of the &C mments that have been made
on the subject. He said:
Public Comment.
Il am very much interested. and not
little gratified, at the public criticisms a.
reflected by the newspapers of my rec
concentrations in respect to postal savings
repositories. 1 find. of course, that the
great majority Of the papers are favorable
to the project but l am no less pleased with
those which have taken an adverse ground.
No one disputes that the project is beset
by a good many difficulties, and 1t is only
by discussion. fun and general, that they
can be overcome and removed.
LAS far as 1 have been able to discover.
only two objections have been seriously
urged against a postal savings system.
The first, which never fails to turn UP. is
the old contention that the government
ought not to go into the business of col
lecting and taking care of the savings OF
the people I think this is an objection
which may properly be left to Congress to
answer. The other objection Is based upon
the generally admitted difficulty of finding
safe and proper methods of putting the
money accumulations to profitable use.
Disposition of the Savings.
"I deliberately abstained from setting
forth definite plan for the disposition of
the savings. for the reason that it is prob
lem which deserves in its solution the bene-
fit of the widest experience and highest
wisdom. / contented myself for the time
with outlining briefly a number Of sugges-
tions, repeatedly made by my predeces-
sors in office and by others, and thereby
inviting, as 1 believed, that critical ard
helpful discussion by the public which has
begun already. Perhaps none of those
suggestions. nor all OF them put together,
will prove equal to the task of absorbing
prcfitably the collections of a postal saw
ings system, but / am convinced that the
national debt, as it exists today, offers a
the meantime, have no doubt safe and
satisfactory plan will be developed.
1T is agreed on all sides that, if practical
ole, postal savings system would be most
desirable. This means great deal to-
ward the success of the project. 1t is being
demonstrated, too, daily, that the people
want it. and it has been my experience
that what the people want very much is
usually pretty nearly right, and is also
very likely to be realized sooner or later
Il have received a good many letters
since the publication of my report from
private individuals. from bankers, mer-
chants, manufacturers, professional men
and others. I value these personal COM
munications very highly and hope to get
many more. The proposition needs discus
sion. and lam confident that it will bear
discussion. 1 trust that the newspapers.
which, by the way. treated my postal saw
ings recommendation handsomely, giving
II full and extensive circulation, will keep
up their criticisms, and that the people viii,
take 1t up. think about II. write about Il,
and not forget to send me the results of
their thinking. If We all pat our heads to-
gether the right plan can be devised, and
that Is what the country wants."