Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 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
cits. 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 organiza ton
OF: the postal service has proved more effec-
tive than the consolidation of post Offices
Legislative restrictions on its development
are to be regretted, and repeal Of the
five-mle 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-
Nportion, and it. has Enthusiastically proved
potent factor in q ttaining what should be a
@chief aim Of government. the granting
of the best possible postal facilities to the:
farming class.
tions 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. It is dead
capital; but II its owners could be inspired
with absolute confidence in tine 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 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 j interest. would
that could be invested to their .ad-
vantage. It would tend to cultivate thrift
in large class; realizing the advantage of
depositing with the government instead Of
wastefully and uselessly expending. it
would tend to better relationship; bring
into closer relationship the government and
it's citizens and developing practical and
enduring patriotism. ,, i.,. . .
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 7,OOO,-
600 depositors have upward of $3.50, 900 900 in
savings accumulated during IS years, and
in ten years fewer than 10, 900 Hawaiian de-
positors saved nearly 81, 100000. Deposits in
Canada in 20 years exceeded h$22, 000, 00O
These vast accumula tons have been made
with the least possible loss to the govern
ments which guarantee their repayment
and with, q minimum of cost to>the millions
OF depositors. More than thousand DOS
tai savings accounts In European Offices are
held by minors, and oyer two-thirls 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-
cumulatons The conversion Of money
order offices into savings repositories
would soon afford indefinitely more facility
for receiving interest-bearins 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 tn it a valuable
feeder to the financial currents Of the
country. Security, and not the rate of in
terest is the primary and essential condi-
ton of such system; and bonds OF states,
counties and municipalities and real estate
furnish an illimitable field.
il. Comparing other countries, the. post
master-general says nearly every country
permits it's most popular coin as the min
five cents in India to one dollar in Canada. |
Maximum deposits vary from $2S5 in France
TO s2 4S5 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 a profit in 1896 Of $4,000 In handling
25oo. 900 accounts. aggregating sl4S,Wo'oo0 art
er paying three per cent IN im1e err Great
Britain earned surplus OF $SS, wy after pay |
Ing ~ per cent. interest on $3.50 O00, made up
Of $500 900 accounts. The average commits
per deposit. Any account may be settled
and Withdrawn from any depository IN the
country. The telegraph is coming into use
Is q means Of withdra wal. :s.E ~. = ~ :