The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1897-11-20
POSTAL SAVINGS.
The Feature of Postmaster-Gep-
erG Gary's Report
Time Ripe for It's Establishment-How the
System Works in Other Countries
The Banks Of the ~PeOple-Subur-
ban Free Delivery Commended.

WASHINGTON, Nov. l5.-The first an
nual report OF Postmaster-General
James A. Gary to the president was
made public last night Its feature is
the strong advocacy of postal savings
repositories, as L scheme over which
Postmaster-General Gary has worked
for several months in the formulation
of plans to present to the president and
congress. lie says the time is ripe for
the establishment, and that the adop-
ton of u welI-organized system
would confer a great boon upon
a large number of people and Ill
timately be of inestimable benefit to
the whole country. The estimates of
the and expenditures for the
fiscal year ending June 80, 1899, are:
Total postal revenuc for 1897, So, 662,-
462. 70; Il 5 per cent, 81, 133, 213. Is.
Estimated revenue for 1S9S, $50, T9S,-
1855. ST; add Z per cent, ST, OT5, 9l1.51;
total estimated revenue for 1899, S93,-
s74,641.3I. Estimated expenditures
for 1895, S9S, 923, 161. 90; deficiency for
1899, estimated, ST, OBS, 1888.
Following is an abstract of the re-
port:
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
expenditures, save that obligated by
law. Reiterating the injustice in
ticted both upon the postal
and the people by second-class mail
matter carriage regulations, the en-
actment 10y congress of some measure
to remedy the wrong, similarly pointed
out by past postmaster generals, is
urged. As to this the postmaster gen.
eral says:
If this were done there would be
an end to postal deficits, and the
service could be enlarged and popular
lied by IL broad extension OF free de
livery without infringement upon the
general of the government
and eventually result in the much-dc-
sired reduction of letter postage to one
cent per ounce"
No method of perfect organization
"a "a pOSLdI oSl N4SS HdS pIONCu HOEc
effective than the consolidation of
post Offices. Legislative restrictions on
its development are to be regretted
and a repeal of the tive-mile limit con-
solidation measure in the 1896 postal
appropriation bill is recommended.
The experimental rural free deliv-
cry has been generously appreciated;
faru vnAp,Iit,ra hara ,,nf-r.I
greater benefits in proportion, and it
has unquestionably proved a potent
factor in attaining what should be a
chief aim of governmeut-the granting
of the best possible postal facilities to
the farming class.
The report reviews in detail the OPP
erations of the various branches of the
department The portion on the sub
ject of postal savings in brief follows:
Many millions of dollars are un-
doubtedly secreted by people who have
little or no confidence in ordinary &c.
curities and monetary institutions Or
ganized by private citizens. 1t is dead
capital. But if its owners could be in
spired with absolute confidence in the
security Of an investment, it is alto
gether probable hat the bulk of this
fund would find its way iuto the chan
uels of trade and mmerce If the
government undertook this task, the
service would undoubtedly be gladly
accepted by the people. Their faith
in the government is ~unbounded.
Their little savings, which sepa-
-,Na1- ..-,l1 har4I- L. ~ ,-t
at interest, would amount, in the
aggregate, to u sum that could be in
vested to their advantage. 1t would
tend to cultivate thrift in a large class
realizing the advantage of dcpOsiting
with the government, instead of waste
fully and useiessly expanding, it would
tend to better citizenship; bring into
and its citizens, and d~evelope prac-
teal and enduring patriotism. This
growth of patriotic sentiment and
good citizenship constitute a powerful
appeal to craftsmanship to make a
way for these beneicent consequences.
The proposition is al accomplished
fact in nearly every country in Europe,
in the British dependencies of both
hemispheres, and even in Hawaii.
In Great Britain seven million de-
positors have upward of $3.50, OOO, 900 in
savings accumulated during So years,
and in 10 years fewer than 10, 600 Ha-
waiian depositors saved nearly 81, OOO.-
900. Deposits in Canada in 20 years
exceeded ST., OOO,0 900. These vast &C
foundations have been made with the
least possible loss to the governments
which guarantee their repayment and
with a minimum of cost to the mill
ions of depositors. More than
q thousand postal savings &C.
counts in European offices are
held by minors, and over two
thirds by the most humble callIngs.
1t is essentially the bank of this class.
Postal savings would not conflict with
other saving banks, but would encour
age savings rather than accumulations.
The conversion Of money order offices
into savings repositories would soon
afford indefinitely more facility for re-
ceiving interest-bearing deposits than
the interest-paying banks do now.
The most aggressive opponents are
among the private institutions engaged
in somewhat similar enterprises,
though associations of the larger cite,
recognize in it a valuable feeder TO the
financial currents of the country.
Security. and not the rate of inter.