Omaha daily bee., 1908-08-08
prMocRArs Arp PosrAt sATlNes


Advocates Of the postal savings bank
will find nothing but disbursement
In the Denver platform declaration on
that subject Mr.. Bryan apparently
feels much toward postal savings
banks as he does toward government
ownership of railways. He favors both
propositions, but his inten-
ton to try something else first, even
II the plan he is going to try is fore
doomed to failure. Mr.. organs plank
on postal savings is as follows:
We favor a postal savings bank, II the
guaranteed bank cannot be secured, and
that II be constituted so as to keep the de-
posted money in the communities where
Il IL established. But we condemn the
policy OF the republican party in proposing
postal savings banks under a plan Of con
duct by which they will aggregate the de-
posits Of the rural communities and re-
deposit the same while under government
charge in the banks of Wall street, thus
depicting the circulating medium of the
producing regions and unjustly ,favoring
the speculative markets.
This evidences democratic Ignorance
OF intent to deceive. Just a9 the demo-
cratic platform ~denounces the repub-
licans for refusing to pass a law pro-
hibiting corporations from contribut-
ing to campaign funds when a string
emit law to that effect had been enacted
by the republican congress and presl-
dent, 80 it also contains the direct
charge that the republicans favor
postal savings banks that would simply
be feeders for the banks in the big
financial centers when nothing could
be farther from the truth. The repub-
lIcan plank on postal savings banks is
as follows:
We favor the establishment of a postal
savings bank system for the convenience
OF the people and the encouragement Of
thrift.
Nothing in the republican plank or
in the bills pending in congress for
postal savings banks furnishes n
warrant for the democratic charge that
the republicans are proposing postal
savings banks "by which they will
aggregate the deposits of the rural
communities and r%edeposit the same
while under government charge in the
banks of Wall street, thus depicting
the circulating medium of the produc-
ing regions and ~unjustly favoring the
speculative markets" The plan recon-
mended by Postmaster General Meyer
makes strict provision against the very
evil Of which Mr.. Bryan's platform
complains. The bill approved in the
United States~. senate provides that
postal savings shall be redeposited in
the national banks in the immediate
vicinity of the place where the deposits
are received and shall be held subject
to the check of the depositors through
the postmaster. The entire purpose is
to prevent the deposits from being ag-
gregated in Wall street and the inan-
cial '~centers, just as other legislation
by the republican congress provides
that federal deposits in national banks
be distributed throughout the country
instead of being congested in New
York and other speculative centers.
The only policy the republicans
have on this subject is to encourage
thrift by assured safety of the money
and toslkeep the deposits in the COM
munity where received. The repub-
licans believe the. adoption of the
postal savings system would prevent
boarding by the small %depositors and
thus furnish the surest guaranty
against money %panics. The republicans
cannot help 1t If Mr.. Bryan persists in
seeing things that do not exist, but
the public should have some protection
against his Misrepresentation of facts.