People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1898-01-14

ton of the system, it is best to exam
inc the systems of Great Britain and
Canada. There are in Great Britain
ten thousand post-ofices at which de-
posits of one shilling and upward,
within certain limits, are received.
Deposits must be made in multiplies of
q shilling, not amounting to more
than $50 $3.50 in one year, nor may
the total on deposit exceed e2O0
(S1,O00) In Canada the limits are
$1,000 and $4,000 respectively. The
rate of interest on deposit in Great
Britain is 219 per cent, in Canada 8
per cent. Two per cent would proba-
bly, bring deposits in this country, on
account of the absolute safety. Regu-
lations could easily be made for the
repayment of the deposits-which
would always be small in amount-at
any post-ofice. The deposits could be
invested by the Government in United
States bonds, or, if necessary, in state
or municipal securities,
"The greatest benefit of the system
has already been pointed out, and is
the bringing into circulation the saw
ings of country people, especially in
the South and far West, remote from
responsible savings banks. In large
part of those sections, safe, reliable
banks arc few and far apart. The peo-
pie have not sufficient confidence in the
integrity of business judgment of
wildcat bankers to entrust savings in
their hands. With the postal system,
deposits would be as safe as any earth
ly possession could be and as secure as
the Government itself. The apparent
benefits of teaching businesslike ways
and saving habits to the people in
general and the promotion of thrift
and industry are too obvious to require
more than mere mention.
mo one need fear that the Govern
ment will 60 into the banking business
or enter into an unfair competition
with the banks. The rate of interest
would be SO small that the business
would be really conducting a safe de-
pository and that only where there is
no commercial agency to discharge
that function. The loss to the legiti-
mate banking enterprises would
amount to nothing. "-The Dispatch
(Rep) st. Paul.
1.-THE press of the country is almost
unanimous in support of postal savings
banks, and there can be little doubt
that it represents popular sentiment.
1t does not, however, follow that the
new law will be passed by Congress at
the coming session or put into immedi-
ate operation. Under our COMPRESSION
al system, especially as recently inter
preted by Reed, neither Congress nor
the people can get what they want
unless the Speaker of the House and
favorably disposed. The chairmen can
pigeonhole or kill any bills that come
before their committees and prevent
these measures reaching q vote in Con
and Senate chairmen of the committees
on postal affairs are, for special or per-
sonal reasons, opposed to postal saw
ings banks, and can be counted on to
kill any friendly measures that may
come up in Congress or prevent their
consideration. Thus while the outlook
for postal savings banks is favorable
from one point of view, it ia bad from
another and unless the press and
people are very emphatic and deter
mined and defeat the pigeon holing
practise and control of legislation by
committee, there is danger that we
will have no postal savings-banks for
the present at least. The fight is not
with Congress, but with the chairmen
of committees, and determined effort
ought to be made to restore to the
Senate and House the law,making
power they once enjoyed. THE Times
Democrat, New Orleans.
"Uncle Sans Department StOre.''
"The expansive powers of the postal