The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1908-11-20

the business transacted by the Honolulu
postoffice in the various departments
for the years 1905, 1905, 1907 and 1908.
We are pleased to note, that the impor-
tant matter of securing more expedi.
tious service to the public in the re-
ceipt and distribution of mails arriving
from San Francisco, has been placed
before the department by the assistant
superintendent of mails.
The two most important items for
consideration by the Merchants Asso'
citation are the proposed Postal Savings
bank, and Parcels Post systems, for
which the honorable postmaster general
intends introducing bills, in the forth
coming session of Congress, for an Act
to establish same. 1t is to these two
measures that Mr.. Joseph Pratt par.
ticularly invites the attention and sup.
port of the Merchants Association.
Postal Savings Bank.-At the close
of Exhibit B, Mr.. Joseph Pratt in deal
ing with the establishment of Postal
Savings banks in the United States ex.
presses the belief that very consider
able portion of the money now being
remitted to Japan through the Postal
Money Order Department (amounting
to $1,144, ,049.96 in the past year) would
be deposited in Postal Savings bank If
same were established, and the money
kept in circulation locally.
We are unable to follow Mr.. Pratt
in this belief or opinion, as after care
full inquiry into tho rates of interest
paid in Japan by the Japanese Gov
ernmentl Savings banks, and the rate
of interest it will be possible for the
United States Government Postal Saw
ings banks to pay, if same were es.
| tabnshed, leaves very wide margin
in favor of Japan.
I The japanese in this Territory who
are remitting their savings to their own
country do so for many reasons, the
principal of which are, we believe first
the high rate of interest their money
commands; second, TO provide for, anc
assist relatives and friends in their ma
tive land third, in depositing theil
earnings in Japan it is an expression
of their loyalty to, and confidence IL
their country and its future.
We think the foregoing reasons ar
sufficient to prevent the Japanese Civ
!. ing any support of substantial natur
to United States Postal Savings bank
if they were established.
We believe the local savings bank
are doing an excellent work in the Tel
ritory; their deposits are large, and ar
invested in local securities, and thei
funds actually kent in circulation /
the Territory of Hawaii. We undei
stand that in the case of Postal Say
ings bank their deposits could not poi
sibly be kent in circulation in the Tel
rtory of Hawaii, but would be sent I
: one of the Federal repositories on th
: mainland, We believe that the saving
bank institutions now established
: Honolulu, Hilo, Kahului, Wailuku, Ii
hana and Lihue provide ample oppo
tunitics for the care and safety {
"small savings and consider that Il
interest rates the various savings banl
are paying will be found much mo
conducive to thrift among the peopl
than a Postal Savings bank paying
r considerably lower rate of intere
could possibly be.
K For the FOREGOING reasons we stron
II ly recommend that the Merchants A
IN sociation do not support or express A
lg proval of any bill that may be