The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1908-11-14
Report of Committee.
Honolulu. September 10. 10

Honolulu, September 10, 1908.
Geo. w. Smith, ESQ.,, President, Mer
chants Association, Honolulu.
Dear Sir: Your committee have ex,
amined carefully the interesting and
valuable data supplied by Mr. Joseph
Pratt, Postmaster, Honolulu, covering
the business transacted by the Honolulu
postoffice in the various departments
for the years 1905, 1906, 1907 and 1908.
We are pleased to note, that the impor-
tant matter of securing a more expedl-
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
VI L@Ah1DIb Il. NIL JUSCDu IdtJ III u0dl-
ing with the establishment of Postal
Savings banks in the United States ex-
presses the belief that a very consider.
able portion Of the money now being
RENTED to Japan through the Postal
Money Order Department amounting
to ST ,l44, 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 the rates of interest
paid in Japan by the japanese Gov
eminent 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-
tabhshed, leaves a very wide margin
in favor of Japan.
The Japanese in this Territory who
are renting their savings to their own
country do so for many reasons, the
of which are. we believe. first, |
the high rate of interest their money |
second, to provide for, and |
assist relatives and friends in their ma |
i've land: third. in depositing their |
earnings in Japan it is an expression |
# their loyalty to, and confidence in
heir country and its future.
We think the foregoing reasons are
efficient to prevent the japanese Civ
NC any support of substantial nature
o United States Postal Savings banks
they were established.
We believe the local savings banks
re doing an excellent work in the Ter
itory; their deposits are large. and are
invested in local securities. and their
unds actually kept in circulation in
he Territory of Hawaii We under.
tand that in the case of a Postal Saw
lgs bank their deposits could not pos
ibly be kept in circulation in the Ter
tory of Hawaii. but would be sent to
ne of the Federal repositories on the
We believe that the savings
ank institutions now established in
Hilo, Kahului, Waikiki, La,
alma and Lihue provide ample oppor
mites for the care and safety of
small savings, - and consider that the
lterest rates the various savings banks
re paying viii be found much more
to thrift among the people {
ian a Postal Savings bank paving a
lower rate of interest !
,uld possibly be.
For the foregoing reasons we strong