Baxter Springs news. [volume] (Baxter Springs, Kan.) 1882-1919, 1897-11-20
GARY FAVORS THEM.
Savings Banks Strongly Advocated by
the Postmaster General.
Says They Would Encourage Thrift Among
the People aud Afford Absolute Safety
TO Timid Depositors-Pla L.
q Success Abroad.

nun TcpOTL VI IoStnuster Ocucruk
james A. Gary to the president was
made public last night. Its feature Is
the strong advocacy Of postal savings
repositories. lie says the time Is ripe
for the establishment, and that the
addition OF we'll organized system
would confer n 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:
Would Tend to Cultivate Thrift.
Many millions OF dollars are undoubtedly So
cretcd by people who have little or no conf.
dcnce In ordinary securities and monetary In
stitutions organized by private citizens II Is
dead capital But II Its owners could be In
spircd with absolute confidence In the security
OF an investment, II Is altogether probable that
the bulk Of this fund would find Its way into the
channels OF trade and commerce. II the gov
crnmcnt 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
hardly be put out ut interest. would amount In
the aggregate 20 o sum that could be invested
TO their alvnntlg. II would tend to cultivate
thrift In large class. realizing the advantage
OF dcpositlng with tho government instead OF
wastefully and uselcssly expanding: II would
tend to better relationship-brlng into closer
relationship the government und ITS citizens
and develop practical and enduring patriotism.
This growth Of patriotic sentiment and good
citizenship constitute q powerful appeal 10
craftsmanship to make way for these beneh-
cent consequences
where Opposition Comes from.
The proposition Is IN accomplished fact In
nearly every country In Europe, in the British
Gepenaehcles OF ooia nemispn np s ana even "a
have ,'nward =, issp 20, 20, in soyn,s accmn,,'
lated during IS years and in ten years no fewer
than 1900 Hawaiian dcposItors saved nearly
sl,oooe Deposits IN Canada in 70 years exc
Snro Non NH With tho ,e"s, ro.s,ni" ,o.s 70
the governments which guarantee their repay
mcnt and with minimum of cost to the mil
lions OF deposit9rs: More than l'Ooo postal
-, r' nn omo. ,,p',hirS" h ,ho ,noS,
,!,,a,1, '.,,,;n',s T, 10 osSon,iaI, ,ho h,ni, a,
This class. Postal SAVINGS would not conflict
with those OF savings BANKS but would encour-
age savings rather than accommodations The
conversion OF money oruer o,,,sc' 'i,1 Sv,s
more facility for recelying e,,-boarIny de-
posi,s than the interest paying banks do now.
The most aggressive opponents are among tbs
pr.ase INSTITUTIONS ,s emsSsGu "a ~ SIM I'M
lawyer cI,ics recognize in /, n valuable feeder TO
the financial currents Of the country. Security.
and not the rate Of Interest. Is the primary and
essential eonui'oh OF sush Sys,c' anu "onu,
es, s'nt Furnishes , an iii,mi,ahle Held '
Estimates for the Year.
The revenues and expenditures for
the fiscal year ending June 30, 1899,
are: Total postal revenue for 1897,
ssa, GG5, 1862. 30; add five per cent. 81, 1884,
oTS.l3. Estimated revenue for 1895,
$50, T0s, 735. So: add seven per cent. ST.
O15,ol1.5l. Total estimated revenue for
1899, S02, S74. G47,37: estimated expend-
lures for 1905, eos, 922, 100; deficiency
for 1899 (estimated), SG,0is, 1928. Fol-
lov;no 10 en- abstract of the report.
To Remedy the Postal Deficit.
The increase Of the postal deficit for
1897 is largely a reflection of the de-
pressed business conditions which pre-.
vailed all over the United States the
first three-Quarters OF that period.
There has been no extravaganza of tx.
pcnditrres. save that obligated by law.
Rc:tera;ing the Injustice inflicted both
upon the postal revenues and the people
by second.class mail matter carriage
regulations, the enactment by con-
gress of some measure to remedy the
wrong, similarly pointed out by past
postmaster generals, is urged. As to
this the postmaster general says: If
this were done there would be IN end
10 Pos.a' "enc''s' """ '"e Sei'i' "o"'u
be enlarged ana popu'ar'"eu ny
broad extension OF the free ue''Very
without intringemeht upon the gen,
eral resources OF the government, ana