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

The trustees of the Chamber of Com.
merce yesterday adopted a report in
favor of the establishing of postal
savings repositories throughout the
Territory, along the lines of the recon-.
mendation Of the Postmaster General.
The committee submitting the report,
Messrs. +. NJ, Swanzy and E. d. Ten.
ney, decided that no action need be
taken with another recommendation
to the effect that the parcels post sys.
tenn should be extended. The report,
in full, was:
con September 10th this committee
was requested by your president to
look into the suggestion made by Mr..
j. G. Pratt, postmaster, that your
Chamber pass resolutions favoring the
recommendation of the Postmaster
General, in regard to establishing pos.
tai savings banks and extending the
parcels post system.
'Since said request was issued, the
subcommittee on postal laws and
transportation of the Trans. Mississippi
Commercial Congress, held at San
Francisco last month, brought forward
a resolution recommending, for stated
reasons, the disapproval by the Con-
gress of the proposal to increase the
limit of packages by mail. The recon-
mendation was supported by vote of
l40 to 60, the Hawaiian delegate vot-
ing with the majority. Under these
circumstances it seems unnecessary for
your committee to take any action on
Mr.. Pratt's suggestion so far as parcels
post is concerned.
Regarding postal savings deposi.
tories, your committee believes that
the establishment of branch postal saw
ings banks in country postoflices
throughout these islands would do
much to promote thrift among our
poorer classes, as it would afford them
an opportunity of placing in a safe
place their money (from Toe. upwards)
for which they had no immediate use,
and as many country postoffices are in
the immediate vicinity of the planta.
ton offices, from which large sums are
paid out in wages, fairly good bust
ness would no doubt be done in many
such branch postal savings banks.
cat present Japanese laborers send
large amounts of their savings by pos
tai orders to Japan. If confidence was
established among these people
which it would be as soon as they fully
realized that the local postoffice was as
safe a depository as though it were
the treasury of the United States
itself--it is quite possible that they
would not send their money away in
such quantities and would keep it more
in the country. If the establishment
of country postal savings banks had
this effect, it would be a good thing
for our Territory.
"Since the adjustment of the
government postal savings bank which
flourished before annexation, the four
local American banks and the Japan
csc bank have established savings de-
partments, SO the needs of the city of
Honolulu seem to be well provided for
in the way of savings repositories, but
the country districts are not provided
for except in certain centers not al
ways readily accessible to wage earn.
ers.
cit is quite clear to your commit
tte iHdI JHe Rchoidl piihSiPio Va poo
tai savings repositories is an excellent
one, and although it is hardly probable
that any recommendation from you
Chamber will have effect in either
precipitating or retarding legislation
on matter of such Importance, your
committee believes it would be proper
for your Chamber to lend its support
to the measure, as set forth in the
Senate Bill 64s4, Goth Congress, LIST
session, entitled "a Bill to establish
Postal Savings repositories for depos-
iting savings at interest with the Sc
curity of the Government for repay
ment thereof, and for other purposes
TN this bill the rate of interest
which it is provided shall be allowed
depositors is two per cent per annum,
and as this is considerably less rate
than that which is allowed by the pri-
waite banks in this city, there would be
little chance Of the postal savings
bank competing to the disadvantage
of the private banks; on the other
hand the probability is it might act
as feeder for these private banks. "
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