The Providence news. (Providence [R.I.]) 1891-1906, 1899-10-28
Chicago Markets.
The Cotton Market.
BANKER FOR THE SOLDIERS.

II is not we'll known, perhaps, but a
fact, nevertheless. that Uncle sam is
paying a higher rate o, interest TO his
soldier boys than on the last boni Is
sue. And how many have an idea 20
what Ems interest amounted the last
year? Almost 5000.
This Interest," per cents paid On
deposits. and only TO enlisted men, says
the ST Louis Globe Democrat. Oficers
with straps are excluded. Any soldief
not retired. may deposit his Sd ings
with any paymaster in sums not lcss
than s.. This he may do at any time.
but once deposited IL must remain untl
expiration OF bis enlistment. Each de-
positor is furnished a book in which
each deposit, date. place and amount,
i'm form of a certificate, is entered at
time Of deposit, and signed by the pay
master and company commander. Com
pany commanders are required 10 keep
a record OF every deposit, and on same
day deposit rs made must report the
same 10 the office OF the Paymaster
General, Washington The paynlaster
each month sends TO the same Ottice an
abstract Of deposits, where comparisons
are made and discrepancies corrected
During the past year the record of
depOsiting has been remarkable, but IL
is plain that the high water mark has
been far from reached For the fiscal
year ending June 80, over 100000 was
deposited by the troops az Manila
alone. This amount has astOunded the
a. n Ia ~ mn "A IA
crease of the army, this feature OF SOL
diers' deposits has caused the depart
ment 10 open its eyes i'm wonder. Cor the
great record of last year promises TO be
vastly eclipsed. Expectations for Ma
Mia alone run as high as 81. 500 0O0
which will mean $50 900 interest and
many expect the amount OF deposits
there will reach nearly $1,000 000 One
reason for this anticipated Increase is
that there are more soldiers Of the de-
posting class than last year. That is.
there are more regulars" And even
the new volunteers may almost be in
cuded in the same category. for they
realize that they are in for at least two
years, while the volunteers last year
knew their term OF service would be
brief, consequently had no desire, or in
centive TO deposit. For this reason the
deposits were almost exclusively con
! fined to regulars" Therefore. under
the new status. it is not difficult t.
perceive that the amount Of deposits
will increase TO "a greater degree. In
some companies over half the members
are now depositing. and it is believed
the fever viii spread. at least in the
Philippines and other distant posses
sions. until in the near future almost
every member will be a depositor. The
benefit of this to the soldier can readily
he seen. but il means heap Of interest.
Yet there will hardly be any complaints
on that score.
There may be a new condition OF
things. however, which may have a ten
dency To decrease the amount Of depos-
it's. Last Congress provided for whatare
known as allotments. which will enable
A soldier to arrange 50 that a certain
amount OF his pay each month can he
paid to his wife or parents or whomso-
ever he may nominate. This will prove
a great convenience 20 soldiers, espe-
cially those having dependents at home
and may as intimated, lessen the
amount of deposits.