The Idaho scimitar. [volume] (Boise, Idaho) 1907-1908, 1908-05-30
Postal Savings Banks.

posting the savings at interest on the security of
the government for repayment thereof and for other
purposes, has been reported favoraby and considered
IN the senate The bill is in response to the demand
of the people for the of the postoces as savings
repositories. 1t is not contemplated that additional
force shall be employed in the various postohices
or that the burden of expense of the postoce depart
ment shall be increased. Under the bill as reported
to the senate the Postmaster General may conine the
repositories to the presidential posoces and later
on extend the system
Accounts may be opened by any person over the
age of ten years. and by for any person under
that age A deposit of one dollar or more may be
made, and increased by ten cents or mutplies of
that amount No deposit shall ever be allowed to
exceed thousand dollars, and interest will not be
paid in excess of five hundred dollars
Interest at the rate of two per cent deposits is
provided for. The deposits to be placed in gov
eminent repositories near the place of deposit and
two and quarter per cent per annum is to be re-
quired for the of the money.
Almost Immediately after the passage of the law
it is estimated there will be thirty-seven thous-
and postal repositories. One of the arguments for
the passage of this legislation is that jewellers in
remote country districts will have the same induce
ment to enconomize and save as is enjoyed by
those residing in the vicinity of the best conducted
savings institutions in the large cities. Benefits
the people and to the government destined to flow
from the establishment of the postal repositories
estimate. They will be incacuabe. A
prudent, thrifty man is rarely if ever delinquent
citizen. And good citizenship nsures good govern
ment and respect for law. What will tend to dis
courage extravaganza and encourage a saving dis
position, will surely tend to suppress vice and
courage virtue
The power to establish postofhces and post roads
and also to provide for the general welfare is vested
in congress by the constitution of the United States
The postal service at first established within
narrowly restricted limits; being confined to the
carrying letters and papers for postage, and
the distribution of government documents over
limited area The scope has been gradually ex-
tended and most wisely. The postofice department
is great convenience to the people, and is adj
mirably conducted.
If the bill passes, the postmaster general will
be required to install the repositories within three
months after the approval of the act, in what are
known presidential postoffces. The
number of these on the first of April last was six
thousand eight hundred and twenty-one. Idaho
would have under this act fortythree such deposit
tories, as against forty-one for Montana, twenty
four for Wyoming twenty-three for Nevada, and
twenty-nine for Utah The largest states of course
would have much greater number New York,
for instance four hundred and seventy-six Ca1ifor-
1ia two hundred and thirteen In Our other neigh
boring states, Washington would have ninety-two,
md Oregon sxty-seven When the system is ulti-
nate1y extended, provision for which is made in the
ill, it will embrace all money order postofices, and c
hus every village hamlet and would enjoy with
perfect security savings institutions equal to the
est and the deposits would be guaranteed by the
There are many objections to the passage of this
,ps1aton based on the same consideration which in