The Canton times., 1899-11-24
SAVINGS OF THE SOLDIERS
Large sums of Money Deposited b.,
Men Serving in the Phil
ippines.

The United States are paying a
higher rate of interest to Sc ticrs thar
on the last bond issue. Last year this
interest account amounted almost tc
S5O,OOO. This interest, four per cent.
is paid on deposits, and only to enlisted
men. Officers are excluded. Any sol
dier, not retired, may deposit his saw
lngs with any paymtster in sums moi
less than five dollars. Money once de
posted must remain until expiration
of his enlistment This privilege of de.
posting money has been OF great value
to the soldiers, for it provides security
for their surplus money, and is profit
able.
During the past year the record of de-
posit has been remarkable, but it il
plain that the high-water mark has
not been reached. For the fiscal year
ending June 80, more than $500,OOO was
deposited by the troops at Manila alone
This record promises to be eclipsed
during the current year and the army
officials would not be surprised if de-
posits of soldiers in the Philippines
reached $1,5OO,O0O One reason for this
Increase is that there are more soldiers
of the depositing class than last year;
that is, there are more regulars. AND
even the new volunteers may almost be
included in the same category, for they
realize that they are in for at least
two years, while the volunteers last
year knew their terra of service would
be brief, and consequently had little in.
centive to deposit. The depo6its wer
almost exclusively confined to regu.
lars. In some companies Aow more
than half the members are dEpositing-
and it is believed the fever will spread
at least in the Philippines and other
distant possessions, until in the neal
future almost every soldier will be
depositor. The benefit of this to the
soldier can readily he seen.
The records of deposit are kept in
the office of the paymaster general
Said clerk engaged on this work: "You
have no idea to what extent this feature
of soldiers deposits has grown. Before
the late war they were almost insignifi.
cant, but they have grown with such
tremendous strides that we are away be-
hind, notwithstanding the increased
force and extra hours. We have just re.
ceived paymaster's abstract from Ma.
Mia containing the names of almost
I n iY,r IN oil 4SI
over $4,000. 1t may seem like fiction
but some soldiers are depositing more
than their whCie monthly pay"
This last statement is sIbstantiated
by showing the deposit OF a company
cook in the Nirt%- infantry, in the I'hil.
ippines, whose pay is S21 month
and who has been depositing not less
than $24 every month during his Phil.
ippine service. He also showed the en-.
try of single deposit of $4,000, made
by private at West Point, a few months
ago, and said that not long ago single
deposit of $4,000 was made. Every
now and then heavy deposits are made,
or deposits in excess of the depositor's
pay, and naturally considerable conjec.
ture is occasioned Some attribute
them to inheritances or earnings on
the outside, while others are so bold as
to insinuate that occasionally the sol.
diers engage in games of chance, such
as poker and craps Deposits and in,
terest are forfeited by desertion.-Chi
cago Inter Ocean.