Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1908-10-01
POSTAL SAVINGS BANKS
Machinery 81 Congress ALREADY
Started for Postal Savings
Bank Law.
A Safe and Sane Plan for the Con-
venisnce Of the People and the
Encouragement Of Thrift.

.
"we favor the establishment Of .
postal savings bank system for the con-
venience Of the people and the encour'
agement Of thrift"
This Is the declaration Of the Repub-
lican national platform, and postal saw
ings banks will without doubt be au-
thorized BY law and established as q
part Of our financial system by the
action Of Congress at its coming ses-
sion, which will be convened In Deem
ber Indeed, much has already been
accomplished towards the enactment OF
| this law. At the last session Of Con-
gress a 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 ID
In part as follows:
Committee Report.
The purpose Of this bill 10 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 II may be
truly said to be quite familiar to 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
as 1907. Every objection to such use
Of the postotflce facilities urged in this
country was vigorously pressed In the
long-contInued discussion Of the subject
In England.
For over fifty years private savings
institutions waged bitter opposition to
the growing sentiment in favor Of postal
savings banks, but Notwithstanding
such opposition in 1851 an act Of Par
lament was passed entitled IAN act
to grant additional facilities for de-
posting small savings with the security
Of the government for the due repay
ment thereof" That the alarm Of pri.
vate institutions was Ill founded II
amply proven Dy tine recorded Iact Una.
the private savings banks increaseu
tnelr capitai Dy more tnan ten miiiiOns
OF dollars In tine nrst nlteen years Ioi-
lowing the establishment OF pOsrai NV
lngs institutions
That the postal savings institutions
proved successful Is satisfactorily at
tested BY the fact that no backward
step has ever been taken Ia England on
this subject and BY the further fact
that In rapid succession the lead or
England was taken BY other countries
The primary purpose Of these insti-
tutions is to encourage thrift and a
saving disposition among the people OF
small means by placing at their dis.
posal In every part Of the country
ready facilities for the depOsiting Of
small sums, with absolute assurance Of
repayment on demand with low rate
Of interest on limited aggregate
amount
Postal sav,nr. HANK. Ne.asa.
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y nv - . rSro co-rso. 1 "a roaos
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sa ,c ~ th,s oo ,r SS - rr.t.-
seNO NS~s 50 P.e'S