The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1908-07-28
operations q 4otgers during the past

r year. 8ss% s s&
q He urged the appointment 81 con.
e 1littees on legislation, to look into
e question OF improving the law relative
20 reporting forged checks ana VI
y consider measures for more !
g Ipunishmpent Tor persons circulating
false rumors against banks and is-
Y suing checks signed with iactituous
anne ss8A committee to cooperate
with the American Bankers associa-
Ions committee 81 bills 81 lading was
aiso suggested iby the secretary.
senator Garter speaks.
At the conclusion Of the secretary,s
! report and the announcements. senar
: tyr Thomas 4. Carter was va escorted.
4 to the speakers place, inside III, ii, M.
\ Inc, BY two prominent local bankers.
]an after being introduced iby Pregt-
: dent Moroney he delivered an address
On legal Tender Money and asPog-
tai Savings Banks
\ After devoting some time to leqar
tender money defining 1T In ali 81 it a
phases, the senator plunged into the,
subject nearest his heart, postal saw
Iings banks. He explained Tie
sionns q the bill creating postal sav-
ings banks which will be considered
Gby the senate December ia next.
He declared ID advocating postal
savings banks that within the last
so years the postal savings system
has been established by almost every
civilized country IN the world having
e stable form Of government. and ID
no case has a backward step been
taken. He narrated the success Of
the system In Germany, Great Brit
Ian and many other countries and
said that experience has shown, that
tie apprehensions from which the
bank opposition springs are ground
less. Hesdeclared that instead 81 IN
vading the legitimate field 8of banking
this system has proven an Important
factor II the dificult task 81 keeping
al the available money 3of the coun-
try In active circulation.
Money Goes Out Of Country.
Senator Carter cited that . many
years laboring people. doubtful OF
banks, have been In the habit 81 Dur
chasing post-oface money orders pay
able to themselves and at the end Of
q year renewing these orders paying
a commission amounting to so cents
q hundred. He stated that the post
master general estimates that in 1907
Italian 1aborers in this country re-
united nineteen millions OF dollars to
the postal savings banks Of Italy for
safe keeping. a <
He showed how this money would
be placed in circulation under the pos
tai savings banks system when each
day the postmaster would deposit his
days receipts with the nearest ma
tional bank. He anticipated complaint
on the part Of state banks and trust
companies, but declared that owing to
the fact that the federal government X
had no direct supervision over them
depositing with them would be i'm
possible. The benefit to be derived by
them he pointed out by saying that
In time Of need national banks came
to their rescue with funds.
Increased Savings. EN-
He predicted that IL people could
deposit their small savings at the
money order postof1ces 50 per cent OF NJ
the women and children OF Montana
would have savings accounts within
q year, whereas at the present time
in western states there Is only one
savings account aor every 1877 persons.
After showing that postal savings
banks would keep more money in
he concluded by saying:
I'm q true and broad sense no part
the business community Is more
vitality interested than the bankers in
he thrift and prosperity of the great
masses OF the people. The actual
money Of the world ID chiefly in the
possession and control Of the millions
'ather than the 4ew, and 1t ID the in
crest OF the bankers as It ID the in
crest Of all concerned in industry and
generally to keep tie pen
lies moving actively In the channels
i trade. When the dimes and dol
ais are kept at work the large ag-
,regates necessary to develop mines.
'uild railroads, stock the ranges, i'm
farms, and keep all the avenues
t labor open, will be forthcoming. $
"You may profltably consult enlight-
ned self interest In celebrating on
his subject for, believe me, the re-
toration Of hidden treasure to the
ervice Of mankind and the active en-
loyment of all the money OF the
eople in the business Of the country
Fill surely increase the nations
over and enrich the circulation with
ut injury to any honest man or any
,gitimate Institution"
At the conclnsion nf3 Senator Car