Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1908-10-17
Machinery of Congress ALREADY
Started for Postal Savings
Bank Law.
A Safe and Sane Plan for the Con-
venienco Of tho People and the
Encouragement Of Thrft.

ageInent OF thrift.
This is the declaration Of the Bepub
llcan national platform. and postal Say
ings banks will without doubt be az
thorized by law and established as 4
part of our financial system by the
action Of Congress at its coming ser
sion, which will be convened in Decem.
Der. Indeed. much has already been
ACCOMPLISHED towards the enactment OF
this law. At the last session of Con
gress n bill was carefully prepared
which met with the approval of the
Postmaster General, and was reported
upon %favorably by the Senate Commit
tee on Post Offices and Post Roads.
This bill Is now on the Senate calendar
and can be acted upon as soon as Con-
gress is convened.
The scope Of the proposed law is SET
forth in the committee report, which l.
in part as follows:
COMMITTEES Report.
The purpose OF this bill is to place
at the disposal of people Of small
means the machinery Of the Postoffice
Department to aid and encourage them
to save their earnings. The subject OF
postal savings banks or repositories Is
not new in this country and it may De
truly said to be quite familiar 10 the
people of Europe and the British colon
les The propriety of establishing
postal savings banks became the sub,
ject of discussion in England as early
ms 1907 Every objection to such use
OF the postofice facilities urged in this
country was vigorously pressed in the
-long-eontinued discussion Of the subject
in England.
For over fifty years private savings
Institutions waged bitter opposition e
the growing sentiment in favor of posta
savings banks. hut notwithstanding!
such opposition In 1861 an act Of Par
lament was passed entitled An nc
to grant additional facilities for de
posting small savings with the securit.
OF the government for the due repay
ment thereof" That the alarm OF pri
vate institutions was Ill founded !
amply proven by the recorded fact tina
the private savings banks increase
their capital by more than ten million
OF dollars In the first fifteen years 70
lowing the establishment OF postal sa,
ings institutions.
That the postal savings institution
/ proved successful is satisfactorily a
: tested by the fact that no backwar
+, step has ever been taken In England 0
: this subject aud by the further fat
Q that in rapid succession the lead {
Q England was taken by other countrie
A The primary purpose Of these inst
buttons is to encourage thrift and
saving disposition among the people
? small means by placing at their dl
posal in every part Of the count
ready facilities for the dep0siting
small sums. with absolute assurance
. repayment ON demand with a low ia
Of Interest on a limited aggrega
amount.
Y Postal Savings Banks Needed.
lie In certain parts of Il country sa
ings institutions are sufficiently mum,
(. GUS to accommodate the people, h
,e such areas are quite limited, being %
20 fined to New England and New Yoi
- IL Is alleged that by reason Of the nu
= Der and location OF savings banks the
is one savings account to every two
= the population OF New England, wlr
s. as in all the country outside New /
gland and New York the average
IN only one savings account to every
an Of the population. Taking such hgul
to be approximately correct and rec
MIXING the fact that the people OF
sections of this country are pre-
n much the same In habits, i~nclinatio
"a and purposes. 1t must be obvious to
ris most casual observer that the peo
90 Of the South. the Middle West, and
,st West do not ave their earnings as
,or those OF New England from the nj
:, want Of secure places In which depoi
may be made.
To those y'io feel inclined to bell
" that the Establishment Of postal
ire ings repositories will involve an
lis, ment Of ~pateruallSm 1t seems quite
hcient Ia suggest that the machiner,
the P~cstoltice Department is nov IN
isttnce and will continue to exist W
out dlminuliOn Of expense whet
-, such repositories are created or
and that the establishment Of q
Repositories FOR the heneft OF
,o people will aOt involve one farthlnI
loss 10 the Post once Department,
,,o will probably. N the contrary, NJ
more than ssir- sastsininR. Very 81
YIN computation will clearly denonst
ere that the postal savings deposhors
anu not burden the Post-Onace Departl
ate, with any additional deficiency.
We -
hat II | am slsctsd President, l I
ere urge upon Congress, with every