Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1897-11-18
FOR POSTAL BANKS.
The Postmaster General Advocates
Postal Savings Depositories.
THEY ATE A SUCCESS IN EUROPE.
The Increase In the Postal Deficit . Rsnec.
tIon Of the Den rcssed business Condi-
lions OF the Countrywide Rural
Free Delivery Experiment.

uudl report OF POSTMASTER uenera
James A. Gary to the president was
made public last night. Its feature Il
the strong advocacy of postal savings
repositories. He says the time is ripe
for the establishment, and that the
addition Of well organized system
would confer great boon upon large
number OF people, and ultimately be Of
inestimable benefit to the whole coun.
try. The portion on the subject OF
postal savings, in brief. follows:
Many millions Of dollars are undoubtedly Sc
GREETED by people who have little or no conf
dencc In ordinary securities and monetary in
situations organized by private citizens 1t Is
dead capital But II It's owners could be in
spired with absolute confidence in the security
OF an investment, 1t is altogether probable that
the bulk Of this fund would find its way into the
channels Of trade and commerce. II the gov
eminent undertook this task the service would
undoubtedly be gladly accepted by the people
Their faith in the government is unbounded
Their little savings, which separately could
l..,,.. -. -. =. 49,
tho no p.s 0 ,eo, "o1 "a au, u,
to their advantage It would tend to cultivate
thrift in large class, realizing the advantage
OF depositlng with the government instead OF
,sn% ~ bo,,0. . ,Apbnus ~ Moulu
relationship the government and its citizens
and develop practical and enduring patriotism
inns growth OF patriotic sentiment and good
pO~eria, appeal 10
cent consequences
The proposition Is an accomplished fact in
nearly every country In Europe in the British
IL otI M ns anu even ~
have inward Of $50 COO CO.. in SAVINGS acc',,ou'
lated during IS years and in ten years no fewer
than lo.co Hawaiian depositors saved nearly
s,oov" ~, D a Oos IN oahada IN ~ years ex
have hem maSs with tSs ,ea s,' noss,hls ,Nss US
the governments, which guarantee their repay
ment, and with minimum Of cost to the mil
Mons M, OF aeposltors, More than 1000 postal
inoNs "mH W. h nie nca
humble callings It is essentially the bank Of
this class. Postal savings would not conflict
with those OF savings banks but would encour-
se sasinss ln'nee 'nah acsulnuia'lons rne
lepositories would soon AFFORD indosnitelv
more facility for receiving Interest," bearing de-
posits than the interest paying banks do now.
osr opponents are among tne
lar enterprises though associations of tha
arger cities recognize in It a valuable feeder to
he financial currents Of the country Security,
,na no. ,ne rae Oh interest IS tne primary ana
II States contes and muuIclnatias " aud Dv rsa1
estate furnishes an lllimItable field.
Comparing other countries, the post
master general says nearly every
country permits its most popular coin
Is the minimum amount of deposit,
,arying from five cents in India to one
,ent in Canada. Maximum deposits
'ary from $685. in France to S9,435 in
New Zealand. Deposits over the
mount are non-interest bearing, and
n several countries the surplus is by
aw invested in national bonds. Both
deposits and accounts are unusually
mall. France made profit in 1895 Of
NO. 900 in handling ., 500, 900 accounts.
lggregating Sl43. 900, 900, after paving