Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1897-11-15
POSTAL SAVINGS BANKS.
Figures and Facts Presented In His Repcrt
. the Prcsident-An Interest,"
Ing Document.


Washington, Nov. 1.-THE FIRST an
nual report of Postmaster General
James A. Gray to the President was
made public tonight. Its features is the
| strong advocacy of postal savings de-
positories as u scheme over which
| Postmaster General Gary has worked
for several months in the formulation
OF plans to present to the President
and Congress. lie says the time is
ripe for the establishment and that
the addition OF a well s-ganized system
would confer a great boon upon u large
number of people and ultimately be of
inetimable benefit to the whole coun-
! try.
The estimates of revenues and ex-
| penditures for the fiscal year ending
| June 80, 1897, are: Total postal revenue
! for 1897, $50, $50, AG2I3; add . per cent,
| %,lS3,2t3. l3. Estimated revenue for
1898, $50, l9S, 1886; add per cent, 5000,
9lL50: Total estimated revenue for
| 1893, 92,S74, 6i737; estimated eXpendl-
| lures for 1898. SgS. 922 go: deficiency for
| 1899 estimated SG,6iS, 1928. Following
is an abstract of the report:
The Increase of the postal deficit for
| pressed condition which prevailed all
| over the United States the first three
| quarters of that period. There have
been no extravaganza of expenditures
save that obligated by law, Reiterat-
| ing the injustice inflicted both upon
| the postal revenues and the people by
| second-cass mail matter, carriage reg
| ulations, the enactment by Congress of
| some measure to remed'' the wrong,
similarly pointed out by the post
masters generals, the report con-
| tinucs:
"lf 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 with
| out infringement upon the general re-
| sources of the government and eventu-
| ally result in the much-desired reduc-
| tion of letter postage of l cent per
| ounce.
mo method of perfect organization
| Of the postal service has proved more
| effective than the consolidation of post
| offices Legislative restrictions on Its
| development are to be regretted and
report of the five-mile limit consolida-
| ton measure in the 1896 postal appro-
| priaton bill is recommended.
"Thc experimental rural free de-
| livery has been generously appreci-
ated: few expenditures have conferred
| greater benefits In proportion, and VI
factor In attaining what should be
chief aim of government. the granting
Of the best possible postal facilities to
| the farming class
The report reviews in detail the
| operations of the various branches of
| the department. The portion on the
subject of postal saving in BRIEF fol-
lows. Many millions of dollars is un
| doubtedly secreted by people who have
| little or no confidence In ordinary Sc
| curities and monetary institutions or
| ganized and private citizens. II Is iea
| capital, but II its owners could be in
| spired with absolute confidence in the
security of an investment 1t is alto
gether probable that the bulk of this
| fund would find Its way into the chan
nels of trade and commerce. II the
| government undertook this task the
| service would undoubtedly be gladly
accepted by the people. Their faith In
the government is uhbounded. Their
! little savings, which separately could
hardly put out, at interest. would
amount, in the aggregate to a sum
that could be invested to their adj
vantage. 1t would tend to cultivate
thrift in large class realizing the adj
vantage OF depositing with the gov
eminent instead of wastefully and
better relationship; bringing into
closer relationship the government
and its citizens. and developing prac-
teal and enduring patriotism.
This growth of patriotic sentiment
and good citizenship constitute a pow
erful appeal to statemanship to make
n way for these beneflcent conse-
quences. The proposition is an &C
complished fact in nearly every coun-
try in Europe In British dependencies
OF both hemispheres, and even in Hn-
wall. In Great Britain 100000 deposit
tors have upward of s550,OOOOOO in saw
ings accumulated during thirty-iive
years, and In ten years fewer than
10, 600 Hawaiian depositors saved near
ly 100000. Deposits in Canada in
twenty years exceeded 22OOO,OOO.
These vast Accommodations have been
made with the least possible loss to the
governments which guarantee their
repayment. and with Il minimum of
cost TO the millions OF depositors
More than thousand postal savings
accounts in European offices are held
by minors and over tWo-thirds by the
most humble callings. II IL essentially
the bank OF this class. Postal savings
would not conflict with those savings
banks, but would incourage savings
rather than accumulations. The con-
version of money order Offices into
savings denosItorles would soon afford
Infinitely more fncihty ior receiving
interest bearing deposits than the IN
tercst- paying banks do now
The most aggressive opponents are
among the private institutions engaged
In somewhat similar enterprises
though associations of the larger cities
recognize I'm il valuable feeder to
The financial currents of the country.
Security and not the rate Of interest
10 the Urinary and essential condition
Of such a system and bonds OF states,
counties and municipalities ana real
estate furnish an illlmitable held.
Cnmnoring other countries the post
mester.reneral says nearly every coun-
no minimum amount OF deposit vary
ing from i've cents in. India to one cent
in Canada \ r.l mcSi M p 4s aVl in New
noniond Deposits over the amount
are fiy"i NEUTRALITY-SUSPICIOUS. and in several
Countries the surplus Is by law In