The Mena weekly star., 1907-12-12
- POSTAL SAVINGS BANKS AND PARCELS POST.

President Roosevelt in his message to Congress gives his unqualified approval to Postmaster General Meyers recommendations for the establishment of postal savings banks and the parcels post.
 His approval of the postal savings bank is timely in that it seems that such a system would have done much to have prevented the money tie-up of the present time. It should be remembered that Postmaster General Meyer, in his proposed law. specifics that the money deposited by the people in the postal savings banks ehall not be taken from the locality in which it was deposited, but shall by the government be re- deposited in safe banks of the same locality, thereby keeping it in circu- lation where it would most benefit the people.
 Read what the President says:
 .I commend to the favorable consid- eration of the congress postal saw ings bank system. recommended by the postmaster general The primary object is to encourage among our peo- pie economy and thrift and by the use of postal savings banks to give them an opportunity to husband their re- sources, particularly those who have ha fo rfl at ha denGgIttnK their money in savings banks. Viewed, however. from the experience of the past few weeks. it is evident that the advantages of such an institution are still more far-reaching. Timid depos- itors have withdrawn their savings for the time being from national banks; in- dividuals have hoarded their cash and the workingmen their earnings; all of which money has been withdrawn and kept in hiding or in the safe de- posit box to the detriment of pros- perity Through the agency of the pos tai savings banks such money would be restored to the channels of trade, to the mutual benefit of capital and labor.
 T further commend to the congress the consideration of the postmaster generals recommendation for cn ex- tension of the parcel post especially on the rural routes. There are now 3S.- 215 rural routes. serving nearly 15,0oo.- 900 people who do not have the ad- vantages of the inhabitants of cities in obtaining their supplies. These recom- mendations have been drawn up to benefit the farmer and the country storekeeper; otherwise, I should not favor them. for believe that 1t is good policy for our government to do every thing possible to aid the small town and the country district. 1t Is desirable that the country merchant should not be crushed out.
 Considering the fact that these two measures have been recommend ed by every postmaster general for more than half century, that they are success in other and older countries, and that they have only been defeated by the efforts of bankers and the powerful express companies, it would seem that it is about tune they were at least given trial.
 It is true that if. the government would, as has been suggested, guar antee all deposits in the national banks and the same steps taken by states as to state. banks, one urgent reason for postal savings banks would be obviated. On the other hand, there will always be thousands of small depositors who would patronize the postal savings banks who would not be reached by the regular banks.
 It seems impossible that Congress should fail to take these steps for the protection of the people in the face of present conditions.