Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1897-11-18

and the people by second-class mail mat
ter carriage regulations, the enactment by
congress of some measure to remedy the
wrong, similarly pointed out by past post
masters general, is urged. AS to this the
postmaster-general says: IF this were
done there would be an end to postal def
cts, and the service could be enlarged and
populariZed by a broad extension of free
delivery without infringement upon the
general resources of the government, and
eventually result in the much-desired re-
duction of letter postage of one cent per
ounce"
No method Of perfecting the organization
of the postal service has proved more effec-
tive than the consolidation of post offices.
Legislative restrictions on it's development
are to be regretted, and repeal of the
five-mile limit consolidation measure in the
1896 postal appropriation bill is recon-
mended.
The experimental rural free delivery has
been generously appreciated; few expendi-
lures have conferred greater benefits in pro-
portion, and 1t has unquestionably proved
potent factor in attaining what should be
chief aim of government, the granting
Of the best possible postal facilities to the
farming class.
The report reviews in detail the opera
lions Of the various branches of the depart
ment The portion on the subject Of postal
savings, in brief, follows: Many millions
of dollars are undoubtedly secreted by peo-
pie who have little or no confidence in or
binary securities and monetary institutions
organized by private citizens. 1t Is dead
capital but If it's owners could be inspired
with absolute confidence in the security of
an investment, 1t is altogether probable
that the bulk Of this fund would find it's
way into the channels Of trade and COM
merce. 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 separately could hard
ly be put out at interest, would
amount in the aggregate to a sun
that could be invested to their ad
vantage. 1t would tend to cultivate thrift
in large class; realizing the advantage of
depositing with the government instead Of
wastefully and uselessly expanding, it
would tend to better relationship; bring
into closer relationship the government and
it's citizens and developing practical and
enduring patriotism.
The proposition is an accomplished fact
in nearly every country in Europe, in the
British dependencies Of both hemispheres,
and even in Hawaii. In Great Britain Z, 000,-
600 depositors have upward of $3.50, 100000 in
savings accumulated during 35 years, and
in ten years fewer than 10 900 Hawaiian de-
postors saved nearly 100000. Deposits in
Canada in 20 years exceeded $22,00O,0 900.
These vast accumulations have been made
with the least possible loss to the govern
ments which guarantee their repayment
and with minimum Of cost to the millions
Of depositorS. More than thousand pos
tai savings accounts 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 those savings banks, but
would encourage savings rather than ac-
cumulations. The conversion of money
order offices into savings repositories
would soon afford indefinitely more facility
for receiving 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 cities recognize in 1t a valuable
feeder to the financial currents of the
country. Security, and not the rate Of in
ton of such a system; and bonds of states,
counties and municipalities and real estate
furnish an illimitable field.
Comparing other countries, the post
master-general says nearly every country
permits it's most popular coin as the min
imum amounts of deposit, varying from
five cents in India to one dollar in Canada.
Maximum deposits vary from S2S5 in France
to 81, 435 in New Zealand. Deposits over the
amount are non-interest bearing, and in
several countries the surplus Is by law in
vested in national bonds. Both deposits
and accounts are usually small. France
made profit In 1895 of $4,000 in handling
$500 900 accounts, aggregatng $l43 00O. 900 aft
er paying three per cent. interest. Great
Britain earned surplus of $500 after pay
ing 22 per centinterest on $3.50, 600 zoo. made up
of 100000 accounts. The average commits
sion paid to postmasters is one per cent
per deposit Any account may be settled
country. The telegraph is coming into use
q means of withdrawal.