Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1907-12-05
POSTAL SAVINGS
:: BANKS PROPOSED
III POSTMASTER GENERALS RE
PORT TO PRESIDENT.
SUGGESTS AWORKING PLAN
Also ADVISES That Al! Appointments
of Postmasters, Except in Office of
the First Glass Be Reposed in the
observation-disclosures Should
Provide Ample Equipment.

encourage among our people economy
place OF deposit tree from any posalbil
ATTY OF DOUBT or suspicion TOR vast
Gums OF money which might other
Wise be hoarQed and kept out OF Cir
tuIation through ignorance or lack or
confidence" Postmaster General
Meyer recommends the establishment
Oh postal savings banks in his report,
made to President Roosevelt yester-
day.
The postmaster general points out
that during the year ended June so,
1907, the postotice departm ent sent
to European countries alone in money
orders $72,111, 1884. Of this sum
S1S,9S6, 51961 went to Italy (repre-
senung 459,795 money orders, aVerag-
ing $41.29 each) 1866, 991,66 to Aus
tria-Hungary; $11,5S2, 028.54 to Great
Britain, and $7,250,853.69 to Russia.
This money, while it was accumulat-
ing, would naturally have Deen
placed for safety in postal savings
banks. In fact, it has been brought
to my attention" says Mr.. Meyer, thai
money of the immigrants, on accoun.
of its possessors being ignorant of
our language and suspicious of our
private institutions, is being sent
home in order that it may be placed
III the postal savings banks of their
natice countries. 1t is believed that
this would not be the case, in many
instances, if we had postal savings
banks in the United States"
From study of the system which
is working so satisfactorily in Canada
it is believed that especially no ad-
ditional clerk hire Is required in the
various post-otflces, the entries being
made by the money-order clerk That
the postal savings bank business can
be handled with safety is best attested
by the results in Canada, when in 80
years $465, 100000 have been received
and disbursed, with loss to the gov
eminent of not more than $4,000.
The total deposits in postal savings
banks there at present aggregate $780,
100000.
1t is recommended that the post
master general be given authority to
designate all money-order pOst-offices,
and such other postofdces as may be
deemed necessary, to receive deposits
of money for savings; deposits to be
accepted in even dollars, with 81 as a
minimum; postmasters to be required
to receipt for such deposits in the
pass books of the depOsitOrs and to
make daily report thereof TO the post
master general, who will acknowledge
receipt of the deposits direct to the
patrons; money deposited in the pos
tai savings bank not to be liable 70
demand, seizure, or detention under
legal processes against the depositor.
Withdrawals may be made at any
time subject to certain regulations.
On deposits made in postal savings
banks rate Of interest of 2 per cent
per annum is suggested, the deposits
to be limited to $500 by any one per
son; any individual in the United
mitted to open an amount in his own
name and deposit to his credit an
amount not in excess of $500. A child
under 10 years of age to have an &C
count opened in his name by parent
or guardian, but Withdrawals are not
to be made until the child attains the
age of 10. That the money deposited
in postal savings banks may return to
the channels Of trade, authority is
asked to place it in the national banks
which are government repositories In
the states where the money Is de-
posted in the post-of1ces.
The extension Of parcels post is al
so suggested. Stamp vending ma
chimes are endorsed and their adop-
tion in an experimental way is urged.
MIR. Meyer suggested that, inasmuch
as the demand for stamped envelopes
has come to be about 100000 daily,
their manufacture by the government
could be wisely undertaken.
Appointments of postmasters.
Attention is invited to the sugges-
ton made in the last report of my
predecessor that the appointment of
postmasters al postofices Of the sec
ond and third classes be vested in the
postmaster general, as is now the ap-
pointment of postmasters of the fourth
class. This would reduce to a con-
siderable extent the amount of rou-
tine work that now falls upon the
president. The postmaster general al
ready makes a number of appoint
ments to positions in the postal ser
vice paying salaries equal I'd or great.
er than the compensation received by
postmasters of these classes. The
adoption of this suggestion would re-
serve TO the president the appointment
CT postmasters at Offices of the first
class-the most important Offices
and relieve him OF the necessity or
making appointments that are a tar
upon his time"
Should Provide Equipment.
The postmaster general declares
that the government should provide
equipment for all postoflces. This"
he says. would not merely relieve
postmasters at the smaller places OF
a burden for which they are not prop
erly compensated. but would tend TO
insrease the efficiency and dignity OF
the service in such places. by In