St. Landry clarion. (Opelousas, La.) 1890-1921, 1897-01-09
POSTAL SAVINGS BANKS.
a Glance at Their Operations In Foreign
Countries.


a Glance at Their Operations In Foreign
Countries.
The experience of France, England,
Belgium, Sweden, Holland, Russia, AUS
tria, Hungary, Canada and Australia
with postal savings banks is to the Ell
feet that the masses of the people de-
rive decided advantages from having
among them everywhere safe deposit
tories for their small savings managed
in connection with the post Office der
partment. 1t is claimed In behalf OF
such banks that they benefit a class not
reached by other savings banks. Their
function is thus described by dis
tinguished French writer: It ia the.
savings bank which has taught the
workman of France how he can become
q capitalist in moderating his con-
sumption to bring IL within his produc-
tion, and in amassing the excess, called
savings, In a fruitful place In complete
security; from the bank he learns how
capital is formed and how it can be pro-:
duced. The savings bank is, in fact, q
school which seems to be created for
the apprenticeship Of Industrial busi-
ness. It teaches man to govern him
self, to resist bad or useless impulses
and SO aids in building up sound dis
cretion, which is the first success In
life" The presence of facilities for
saving and obtaining q small interest
on ones accumulations affects the
character as well as the wealth OF the
people. Not only is capital created and
the rainy day provided against, but
habits of sobriety and thrift, which are
elements of moral excellence, are great
~ promoted.
In the November issue Of the "Annals
of the American Academy OF Political
and Social Science" there is an article
by E. T. Heyn on Postal Savings
Banks" in which he enumerated the
advantages to be derived, in the writer's
opinion, from adding q savings bank
feature to the operations OF our post
office department. These advantages
are as follows: Postal savings banks
would furnish a safe place for the earn
ings of the laboring classes and stimu-
late them TO habits of saving. At
present such sums as they hoard arc
kept out of use, to the aggregate
amount OF hundreds Of millions, thus
producing a scarcity Of money, whereas
il their savings were put In bank they
would be restored to active use. After
O few years the amount deposited with
the post office department would ap-
proach $1,000. 900, 900, and il applied to
the retirement of government bonds
would wholly extinguish the public
debt to bondholders. Not only would
the moral tone of citizens be improved
by becoming depositors, but the sta
bility of the government would be IN
| creased by the practical interest de-
positors would have In it's welfare.
In the United Kingdom deposits are
| now received at 1000 post offices from
| nine a. m. to six p. m. The. deposition
receives from the postmaster pass
| book, In which are recorded the de
| posts and Withdrawals. Any sum
from 25 cents up to $3.50 may be deposit
ed in one year, and interest Is paid on
any sum that is multiple OF SIS and is
| compounded. Withdrawals may be
| speedily effected, by telegraph or
otherwise. A depositor may, II he
| chooses, have his accumulated deposits
| invested in government bonds. Small
savings may be made by the purchase
| Of postage stamps, which, when they
| reach a certain amount, are recorded
| as deposits. There are 5000 schools in
| which the children are encouraged to
save through the machinery OF the
| post Office, q clerk coming to the school
| at intervals to receive the stamps and
furnish pass-boolss. The aggregate
deposits in postal savings banks at 1.-THE
end of 1898 were $402, 100000, the years
increase being s23,5oo,oo0. Besides this
1 6o,1s1 depositors held s31 100000 OF
government bonds. One out Of every
seven persons in England is now a de.
positor In the postal banks In 1899
there were 9,s3s, 1913 deposits made, az
gregating $t23,oo0,00o and withdraw
| ais aggegating s1os,5oo 900. Opera
1 tons are conducted on o similarly large
scale in the postal savings features Of
other countries. Various public ofh
cials have at times urged upon congress
the idea OF utilizing the post Offices fol
the accumulation as well as the trans
mission OF money, insisting upon III
ntility in the agricultural districts, blu
80 far congress has not deemed the mat
] ter ripe for action. Baltimore Sun.
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