The Meeker herald., 1897-11-20
FOR SAVINGS BANKS.
GOVERNMENT SHOULD RUN
THEM.
Postmaster Ge.er.l G.sy rrspsrss Rs-
psst strongiy Urging rhis Iansvssaoa-
says II would he Popular.

Says II would he Popular.
Washington. Nov. 15.-The first an
/ nual report Uf Postmaster General
James A. Gary to the president WIS
made public Tonight. Its feature Is the
strong advocacy Of postal savings DE-
pOdtories as scheme over which Post
master General Gary has worked for
several months in the formulation of
plans to present TO the President and
Congress. He says the time is ripe for
the establishment and that the addition
OF well organized system would con
fer great boon upon a large number
OF people, and ultimately Ike Of ines
timable benefit to the whole country.
The estimates OF revenue ana expend-
itllres for the fiscal year ending June
30, 1880. are:
Total postal revenue for 1897. 49,
685. .4ts2. .73 add per cent. ~. .1:s3, 273. Ii.
ESTIMATED revenue for 1873. $50, 1913,
1856; add per cent. $6.O13,011 81.
TOtal estimates Of revenue for 1899.
SOC, 2,S14.84T.37: estimated expenditures
for 1893. $9s.De27O; deficiency for
1899. estimated. $G.O4S. 112.Gs. Follow
ing is an abstract OF the report:
The Increase OF the postal deficit for
1897 IN largely reflection Of the de-
pressed business conditions Which pre-
vailed all over the United States the
first thretAquarters OF that period.
There has been no extravaganza Of
expenditures. save that obligated by
law. Reiteiating the injustice inflicted
both upon the postal revenues and the
people by secOnl-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:
III this were done there would he an
end to postal deficits. and the service
could he enlarged and popularized by Il
broad extension Of free delivery with
out infringement upon the general re-
sources OF the government. and event
ually result In the much-1esired retiuc
ton OF letter postage of I cent per
ounce.
NO method Of perfect organization Of
the postal service has proved more ef-
fective than the consolidation Of post
offices. Legislative restrictions on It's
development are to be regretted. and n
report Of the five-mile limit consolida-
ton measure In the 1870 postal apprO-
priation bill Is recommended.
.The experimental rur.tl free deliv-
cry has been generously appreciated; !;
few expenditures have conferred great
er benefits in proportion. and 1t has I'M
questiOuably proved n potent factor in
attaining what should he chief aim
of government. the granting of the best
possible Dostal facilities to the farm
Ing class"
Tie report reviews IN detail the opera
tions OF the various branches Of the
department. The portion on the sub
ject Of postal savings, in brief. follows:
Many millions Of dollars is undoubt-
etlly secreted by people who have lit
tie or NO confidence In ordinary securi-
ties and monetary institutions organ
lied by private citizens. 1t IL dead cap
ital. hut II it's owners could he inspired
With at,solute confidence In the security
OF an investment 1t is altogether prob
able that the bulk Of this fund would
hnd Its why into tlle channels of trade
and commerce. III the government I'M
dertDOk this task the service would I'M
dUubtedly be gladly accepted by the
people. Their fhith In the government
b unbounded. Their little savings.
which separately could hardly be put
at interest, would amount. In the ng-
greRate to a sum that could be invested
to their advantage. 1t would tend to
cultivate Thrift In large class. realiz-
ing the advantage Of depositing with
the government instead OF wastefully
and iselessly expending. 1t would tend
to better relationship: to bring into
closer relationship the government and
Ita citizens. and developing practical
and enduring patriotism. This growth
or patriotic sentiment and good citl-
zeGlship constitute powerful appeal to
statesmansifip to make way for these
consequences.
The proposition is an accomplished
fact In nearly every country In Europe
in the British dependencies of both
and even in Hawaii. In
Great Britain 7.OOO.OOO depositOrs have
upward Of $:IjO.OO.OOO i'm savings ac-
during tlhrty-five yenrs. and
in ten years fewer than 10000 Hawa-
fian depositors saved nearly <1.OOO.OOO
Depoefts In Canada in twenty years
exceeded $22.OOOOOO. These vast ac-
have been made with the
least possible loss to the governments
which guarantee their repayment. and
with minimum OF cost to the millions
Of depOsitors. More tlran thousand
postal savings accounts in European
offices are held by minors and over two
1hirN's by the most humble callings. It
la essentially the hank OF this class.
Postal savings would not conflict with
those savings banks. but would encour-
age savings rather than accunulations
The conversion of money order Offices
INTO savings detyositOriee would soon
afford indefinitely more facility for re-
ceivin0 interest bearing deposits than
the interest paying banks do now. The
mcst aggressive ODtxf,ents are among
The private Institutions engaged in
somewhat similar enterprises. though
OF t1le larger cities recog-
mze in 1t valuable feeder to the finan.
rfal currents Of the country.
Security and not the rate Of interest
d t1ie prinrary and essential condition
N such system: and bonds Of statee.
,ountics and municipalities and real es-
ate furl,1si, an iNimitable field. Com
narinR other countries, the poStmaHter