New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-26
A Use FOR POSTAL SAVINGS.
GENERAL ROY STONE SAYS INVEST
THEM IN GOOD ROADS BONDS.
TIT THE COUNTIES ISSUE THE BONDS AND iN'
TIE SAME INTEREST on THEM AS THE
GOVERNMENT MUST PAY 10 HE

,rr THE COUNTIES ISSUE THE BONDS AM
r,,r SAME INTEREST on THEM AS THE
GOVERNMENT MUST PAY 10 THE
nrposIToRs OF THE MONEY
co,eral Roy Stone acting president OF inc Ma
,ional League for Good Roaas' o'ne,' -, onI
hos fopnd n way 70 make postal savings D""Ns Gnu
aaos roo6s nromote each other His plan' IN hie!'
o. ,,o, nos,el savings banks shall be cs'aDIis"cu'
a,d The, the Postolce Department shall invest ris
denosits IN county bonds for the buloi's Vi g.
roads The scheme is favored oy 'he t..,.oa
American Whoelmcn. road improvement associ"''0,I'
ccncrauv and many educational institutions"
w stone. n member Of Congress from Pennsyi,
xon,, has embodied It in the following Pr0p0'''
amendment 10 the Postal Savings b!! +,
preference shall at all times be given TO suTh INFO IA,
vcs:ment o. the postal savings as T and for that
puLPosH Siie for The building mprov ement %
excIosNc.S Loi ubfcct only 10 such limitations ana
restrictions and such provisions LOT me and nre-
sne from time to time by The secreaTy OF the
,rreosury the Acknowledgement, tne 0S''-'"
cenerqi and the Secretary OF Agriculture
- ax,lanot,on OF this project General stone mas
cor, ~ tho presidents OF the good roads assoc'a-
tons letter, part OF which follows:
The only obstacle to the postal-savngs pan n IDS
9Sgys OF f fndGs pIGRHF having PEG
ples money and agreed 10 pay .nteres. o., n,ercst
lend !, a rspeeay unfortunate IT, having taken
the money OF the country districts, "mcIe !; 20
snerre M best the Government should carry " I"
u" Tbe IDEAL operation would be one which whl a
drawing the money OF ts hiding places or 1taT
ness IN The rural districts and making II earn
est for its owners should put actively al wosN So
no same districts earning money 10 reihpu' ~,
Government. and at the same time adding we9I se
20 thn region through public Improvements, nc
nronosed Investment IN county bonds lssutu SUI!
$1,000 Improvement. and with the proceeds eN
n1o,ded urGer sufficient Government SUPERVISOR
Twom,J ueet these conditions in the highest desee
~ view OF the perfect security oifered ana OF nv
erea, public benefits 10 accrue. the tioTernihem'
ccouIS well afford TO incur the small additional eN
nense Of handling these funds and loan tne noi ~
~ the same rate OF interest that IL pays 10 t az
owner Suppose the rate to be u per cent Inc ,he
ordinary road funds Of the county anG b Ss cone one
struc;,on wears the road tax could either ne res
eoned FOR '.he time or applied 10 the fnproVeiIet
30 local roads Some counties, or course WouIu o..
To conservative TO accept this plan but there "ou
~ enough ready and willing 10 take advantage or II
to show its Dement'S and ultimately lead tho others
TO It's adoption. $780, ,a .o,,,d no moro
assSrahle than short ones and probably payment
Womb not be required in less than hundred Eeals
~ then so tina, no present provision need ne mac
in reference 10 the principal except that me c1u i
should have the privilege OF payment at'eF th''S
or fifty years.