The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-15
Important recommends tiOns I'm Post
master General Gary's First Re-
port to President Mckinley.
THRIFT AND PATRIOTISM
TWO OF THE GREAT BENEFITS THAT
WOULD ACCRUE TO THE NATION,
MIR. Gary Says, If 1t Should Adopt a
i'm other Parts of the World.


report of Postmaster General James A.
Gary to the President was made public to-
night. It's feature is the strong advocacy
of postal savings depositaries, a scheme
over which Postmaster General Gary has
worked for many months in the formulation
of plans to present to the President and
Congress. He says the time is ripe for
their establishment, and that the adoption
of well-organized system would confer
great boon on large number of people and
ultimately be Of inestimable benefit to the
whole country.
The estimates of the revenues and ex-
penditures for the fiscal year ending June
30 1899, are: Total post revenue for 1897,
$S2,665, 1928; add per cent, 81 133 313. Es
timated revenue for 1898, $50, 79S, 1856 Sc; add
per cent, $6,075, ,91L51. Total estimated rev.
enue for 1888, $92, ,874 647.37; estimated expend-
itures for 1899, $685. 100; deficiency for 1899,
estimated, $6,04S, 1898
Following is an abstract of the report:
The increase of the postal deficit for 1897 is
largely a reflex of the depressed business
conditions which prevailed all over the
United States during the first three-quar-
ters of that period. There has been no ex-
traVagance of expenditures, save that obli-
gated by law.
Reiterating the injustice inflicted both on
the postal revenues and the people by Sec
opd-ciass 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: IF
this were done there would be an end to
postal deficits, and the service could be
enlarged and popularized by broad extern
cfn nf fraa will inf oa11t
on the general resources of the government,
and eventually result in the much desired
reduction of letter postage to L cent per
ounce
No method of perfecting the organization
of the postal savings has proved more ef
fective than the consolidation of postOffices.
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 recommended.
The experimental rural free delivery has
been generously appreciated; few expendi-
lures have conferred greater benefits in pro-
portion, and it has unquestionably proved
a potent factor in attaining what should be
a chief aim of government, the granting Of
the best possible postal facilities to the
farming class
The report reviews in detail the operations
of the various branches of the department.
The portion on the subject f postal savings,
in brief, follows Many millions of dollars
is undoubtedly secreted by people who have
little or no confidence in ordinary securities
and monetary institutions organized by pri-
vate citizens. 1t is dead capital, but If its
owners could be inspired with absolute con-
fidence in the security of an investment it
is altogether probable that the bulk of this
fund would find it's way into the channels of
trade and commerce. If the government
undertook this task the service would un-
dQubtedly be gladly accepted by the people.
Their faith i'll the government is unbound
ed. Their little savings, which separately
could hardly be put out at interest, would
amount in the aggregate to a sum that could
be invested to their advantage. 1t would
tend to cultivate thrift in large class, real
iZng the advantage of depositing with the
government instead of wastefully and use
lessly expending. 1t would tend to better
citizenship, bringing into closer relationship
the government and its citizens and devel-
oping practical and enduring patriotism.
This growth of patriotic sentiment and good
citizenship constitute a powerful appeal to
statesmanship to make a way for these
benefcent consequences.
The proposition is an accomplished fact in
T.early every country in Europe. in the Brit
ish dependencies of both hemispheres and
even in Hawaii In Great Britain 100000
depositors have upwards of $3.50 000 900 in
savings accumulated during the thirty-five
years, and in ten years fewer than 10000
Hawaiian depositors saved nearly $1,000 600.
Deposits in Canada in twenty years exceed
ed $22, ,00O,0 600. These vast accumulations
have been made with the least possible loss
to the governments which guarantee their
repayment, and with q minimum of cost to
the millions of depositors More than a
third of the postal savings accounts in
European offices are held by minors and
over tWo-thirdS by the most humble call
ings 1t is essentially the bank of this class.
Postal savings would not conflict with the
savings banks, but would encourage saw
ings, rather than accumulations. The con-
version of money-order offices into savings
repositories would soon afford indefinitely
more facility for receiving ntereSt-bearlng
deposits than the interest-paying banks do
now. The most aggressive opponents are
among the private institutions engaged In
somewhat similar enterprises, though as
SociatiOnS of the larger cities recognize In 1t
a valuable feeder to the financial currents
of the country. Security and not the rate
of interest is the primary and essential con-
dition of such a system; and ponds or
States, counties and municipalities and real
estate furnish an illimitable field.
Comparing other countries the poStmaS-
ter general says nearly every country per-
amount of deposit, varying from cents in
India to 81 in Canada. Maximum deposits
vary from $2S5 in France to 81, 43o In New
Zealand. Deposits over that amount are
the surplus is by law invested in national
bonds. Both deposits and accounts are
usually small. France made a profit in 1895
of 900 in handling 2,5O0,000 accounts, ag
gregating $143, 100000, after paying per
cent interest. Great Britain earned a sur
plus of $4,000, after paying 215 per cent. in
terest on $4S0, ,0O0 600, made up of $500 600 ac-
counts Average commission paid to post
masters is l cent per deposit. Any ac-
count may be settled and withdrawn from
graph is coming into use as a means of
withdrawal.
Rural Free Delivery.