Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1907-12-06

uoUOoieo III pOoIdi ooNiukb uaukt
there at present aggregate $50.
100000.
II is recommended that the Post
master General be given AUTHORITY
to designate slI..money order post
Offices. and such other postofices
as may be deemed necessary. to
receive deposits OF money for saw
ings; deposits to be accepted in
ever dollars. with 81 as q mini.
mum; postmaster to be required
to receipt for such deposits 10 the
pass books of the depositors and
to make daily reports Thereof to the
Postmaster General. who will
acknowledge receipt of the depos-
it direct to the patrons; money de-
posted in the DO tal savings bank
not to be liable to demand. seizure
or detention under legal processes
against the depositor. Withdraw
ais may be made at any time sub.
ject to certain regulations. On
deposits made in postal savings
banks a rate of interest of 9 per
cent per annum is suggested, the
deposits to be limited to $500 by
any one person; any individual in
the United States 10 years old or
more to be permitted to open an
account in his own name and 10
years OF age TO have an account
not in excess of $500. A child
under 10 years Of age to have an
account opened in bis name by a
parent or guardian, but withdraw
ais are not to be made until the
child attains the age Of 10.
That the money deposited in the
postal savings banks may return
to the channels of trade. authority
isasked to place it in the national
banks which are Government de.
positories in the states where the
money is deposited in the
postotfice. In consultation with
a number of presidents of na.
tional banks 10 various parts of
the country | have been assured
that on special deposits of this
character from the Post Office De-
partment they would allow a rate
OF interest of 9 per cent. As the
Post Office Department Govern
iment) is preferred creditor, it
would not demand collateral from
the banks in the way of bonds.
There would oe the safe guard of
having the Comptroller of the
Currency report regularly in the
standing OF the banks that are u.s.
ed as repositories ard the dou BILE
liability Of the stockholders of the
national hanks would be an addi-
tlonal assurance of the security of
the deposit. Thus the principal
object of the savings banks will be
to encourage habits OF economy,
not only among our own men and
women, as we'll as Children of 10
wears of age or over who live in
places remote from any banks,
bout also to encourage the foreign
settler to deposit his earning in
his country, because after be has
accumulated a few hundred doll
ars he will not be content to re.
ceive merely 2 per cent interest,
b1t will possibly seek to purchase
home, and the moment he acquire
real property here be comes a
more conservative citizen. is &C.
lively interested in the affairs Of
the nation and at the same time
places himself and his dependents
beyond the likihood of becoming
public charges. Should, however
his earnings remain in the postal
savings banks the fact that he has
an interest in the Governme Mt
and something at stake will tend tn
made him more desirable citizen.
NOtlce-All persons knowing them
selves to be indebted to me for horse
services are requested to make settle.
ment at once. All persons breeding by
the season are reminded that money
is due Dec, 18th. Please "a.