The state herald., 1897-11-19
FOR SAVINGS BANKS.
GOVERNMENT SHOULD RUN
THEM.
Postmaster General Gary Prepares Re-
port Strongly Urging This Innovation :
Says 1t Would he Popular.

| nual report OF POSTMASTER General
James A. Gtiry to the president was
made public tonight. Its feature Is the
strong advocacy of postal savings de
pCsitories as a scheme over which Post
master General Gary has worked for
several months in the formulation of
plans to present to the President aud
Congress. He says thertime IL ripe for
the establishment and tnat the addition
of n well organized system would con-
fer n great boon upon a large number
of people, and ultimately be OF ines
Unable benefit 10 the whole country.
The estimates of revenue and expend-
itures for the fiscal year ending June
30, 1899. are:
Total postal revenue for 1897, $S2,-
GG5. .4G2.T3: add 5per cent, "a, 133, 273. .13.
Estimated revenue for 1898, 1885, 70S.-
135S6; add per cent, S6Oi5,911.51.
Total estimates of revenue for 1899,
500 I4,GI7.3T: estimated expenditures
for 1898. $0S.922, ,7G0; deficiency for
1880. estimated. $6,0iS. 112.63. Follow
! ing Is an abstract OF the report
The increase of the postal deficit for
1897 is largely reflection of the de
pressed business conditions which pre-
vailed all over the United States the
first threAquarters of that period.
There has been no extravaganza of
expenditures, save that obligated by
law. Reitcrating the injustice infilcHsi
both upon the postal revenues and the
people by second-class mail matter,
carriage regulations, the enactment by
Congress of some measure to remedy
the wrong, similarly pointed out by
past postmasters general, Is urged. As
to This the postmaster general says:
"lf this We're done there would he an
end to postal deficits. and the service
could he enlarged and popularzed by a
bread extension of free delivery with
out infringement upon the general re-
sources of the government, and event
nally result in the much-desired reduc-
ton of letter postage of | cent per
ounce.
NO method of perfect organization OF
the POSTAL service has proved more ef
fectivc Than the consolidation Of pest
offices. Legislative restrictions on its
development are to he regretted. anl a
report Of the iive-mile limit cons0lida-
ton measure in the 1896 postal appro-
| pri:ifi0n bill Is recommended.
The experimental rural free deliv-
| cry las been generously appreciated;
| few expenditures have conferred great
or benefits in proportion. AMI It has un-
| uuestioDubly proved u potent actor IN
attaining what should he u chief aim
of government. the granting of the best
p0ssible postal facilities To the farm
| ing class
The report reviews in detail the opera
| rlons OF the various hrTfnchcs of the
department. The portion ON the sub
| jcct of postal savings. in brief. follows.
Many millions of dollars Is unslouht-
cdly secreted by people who have 1T
tie or no confidence IN ordinary securi-
ties anil monetary institutions organ
lied by private citizens. II Is dead cap
ital, hut II its owners could he inspired
with absolute confidence In the security
of an investment 1t Is altogether prob
able that the bulk of This fund would
find Its way into the channels OF trade
and commerce. If the government I'M
dertook this task the service would I'M
doubtcdlv he gladly accepted by the
people. Their faith In the government
IL uDboundcd. Their little savings.
which separately could hardly hc put
af interest. would amount. In the ng-
grcgsitc IN a sum that could he invested |
10 their advantage. II would tend to /
cultivate tariff In a large class. realiz.
Ing the advantage of depositing with |
the government instead Of wastefuliy |
md usciess'y expanding. 4 w.,utl 1gYs1
to better relationships: 10 bring .
closer relationship the government Md
Its citizens. and developing practical
nni enduring patriotism. This growth
or patriotic sentiment and guod citi.
zCnship constitute powerful appeal TO
statesmansIip To make n way for these
henciicient consequences.
The proposition Is an accomplished
fact In nearly every country In Europe.
In rhc British dependencies Of both
hcmispher's. AMI even In Hawaii. In
Great Britain 1.ODWD depOsiiorx have
upward " S.hD.OtN.ND In savings nc.
cumu.aied during thirty-flvc years. and
In ten years fewer than lOUO lluwi,.
Ian delosiiors saved nearly Si.OOO.OO0.
Deposits In Canada In twenty ycnrs,
exceeded S2a.oOo.OOO. These vast ac-
cumulaiiuns have been made with the
least possible loss io the governments
which guarantee their repayment, and
with minimum of ccst to the millions
Of depositors. Morc than thousand
| postal savings accounts IN European
offices arc held 10y minors and over twsp-
Thirds hy the most humble c.,lllng~. II
II essentially tile bank of this c.nsss.
Postal savings would not conflict with
those savings hanks. hut would encour.
age savings rather than accumulation
The cony' islun of money order Offices
Into faylnrs icpositorlrs would soon
nnori lndeilnlt..y more facility for ~.
celylng lntor'st-hcnrlr. deposits than
the interest raging hanks do now. The
mcst aggressive cpi1 'nenis are among
the private institutions engaged IN
somewhat simi.,r enterprises. though
associations 81 the larger rltI.s rerog.
nlze In II valuable feeder to the flnun.
chl currents nf the country.
security aud moi The rate of interest
u tie primary and essential con.iiiion
~ such n -ytt"m: nni bonds ~ sintr-.
| counties and municipalities nnl real cs.
tate furn'sh an ihimlinlle He'll. Com.
| ilrlng other countries. the pnSimnri,r
general ,iys nearly every country per.
n'its It's mos, nrnnlar cuin ns the min.
lmnm amount 'f drp1,ii. carving frin
! criir IN ln'lln 10 I ccni ia ra,t,in,
Maximum ,lopn.lis wary from saS5 ln
fHpcr tn sa.l.,i In New InlnnJ. p,.
irr'i- over the amount are nonlnier..t
| lgiiing, nnl IN several countries tll.
surnlus II hv law invested IN niiiunaI
hNnly Roth d-i.osiis aud nccnuut, are
usually sny,il. France ma,ir a nrniii IN
is'a ~ siionD In handling (. ast ~ :,
accounts. nger.Hnilng sii:,.O1.OD AFT.
- having . n"r cent, Interest. Gnat
FriiHln earned u surnlr~ ~ ss'innp nj.
." rowing siA prr ini, Interest on Ssh.
~n,-n. ntiie nn - Il Slh,0D accounts.
The nvr'a"" commission raid 10 nr.,.
i'aSi"rY Il imr cent. n'r i.posli ANY
ncrouni may IA" settled nnd willhir,wn
from any DEPOSITORY In the country,
The TELEGRAPH Il coming Into u.r ns a
means ~ Withdrawal.
SIGNS GAS WORKS LEASE BILL.
Mayer wsr~i.L of Philadelphia Do-. NJ,