The Caucasian. (Clinton, N.C.) 188?-1913, 1897-09-23


Just before Congress adjouraed, tbs
senate Committee On Post 06Ices sne
Post Roads sent to tae Postmaster
General . copy Of Senator Buffers
postal savings bank bill, and requested
linn to examine the same and 10 reross
TO the committee next D~eema-r any
suggestions OF amend menis TO il that
he thought shauid b. made. The Post
master General replied that be would
take up the matter during the summer,
investigate the subject. examine the
bill thoroughly. and report is TO the
next session Of Congress-. The follow
10 taken from . recent issae Of the
washln on Post:
.Poss master General Gary has just
received from the Post IN asfer General
Of Canada . full explanation Of tn
savings bank sss'em in vogue there.
He has also received letters in regard
to the system from prominent men all
over the country, and farmers espe-
peciaiiy, n banking facilities for the
later are extremely limited.
The PostmAster-Genera - gather
| ing all the information possible regard
ing postal savings bank., and 1t is be-
lieved in his annual report will call at
tention to the best features OF the 8, s
TENS Of the various countries having
such ba ks. and will recommend that
Congress authorize the establishment
| Of postal savings banks in the United
States"
Before Senator Butler intr duced bis
bill he studied the postal savings bank
systems in all countries that have
adopted this system, He has been ~
work on this for over year. 10 order
to have all possible official information
from foreign countries on the subject
before his postal savings bark bill il
taken up next winter, Senator Butler
introduced and passed through the
Senate in July resolution lnstructiDs
the Secretary Of State to send out N
official letter to all Of TIRE diplomatic
Representatives of this government in
foreign countries, directing them tc
send in IS full information as pnssibl
on the nature and practical workings
of postal savings banks and postal tel.
egraph and telephone in those coun.
tries, including copies Of their laws
etc. On July 18th, the Secretary Of
State sent out this circular as directed
by Senator Buffers resolution, and thu
replies will be laid before Congress il
December, and the postal savings banl
will be taken up. We are glad to Sc,
that the Investigations v hich the Post
master General has made has inclined
him favorable to the system.
The Chicago News, commenting
upon Senator Buffers Postal Savings
Bank bill, calls attention to how the PEG
pie Of Chicago have lost their saving
by the breaking of private savings bank
in that city. 1t says that the people
are not only robbed of their money
but that they are discouraged from try
ing to save. The News closes it,
thoughtful editorial with the follow
ing wise observation:
Cali the testimony of men who b,
their own exertions have accumulated
fortunes shows that to win the first 81,
0OO is more difficult than to gain tn,
next IS 900, and any reputable mean
that will enable the citizens to secur,
he initial 81 600 is a direct step towart
prosperity of the nation. The fac
that postal savings banks supply tina
desideratum is the main argument il
favor Of their being established, and II
10 sufficient one, even in the absence
of any other. No one will deny tn,
great importance of savings bank
charter by the States, but the fact tina
they sometimes fail and disappoin
depOsitors furnishes the improviden
person with an excuse for making
depoist of his first saving dollar. 81,
reasons that he may as we'll spend i
and receive the pleasure from it as t,
deposit it in bank and lose it. Min
men out of ten are seeking an excus
for spending their money, and tn
real or fancied insecurity Of saving
banks furnishes a justification t
mAny0