Putnam patriot., 1908-10-02
SIetsOn Shoes for Men
WATGHOUg SHOW WINDOWS
Postal Savings Banks,

Postmaster. General Myers, who is the one who has been eXerting himself io get the government to adopt the postal savings banks system, thus pre- sents, In a letter to renntof Carter, of Montana, HI explanation of the hene= fits and safeguards on the proposed sys tenn ofideposiiofies, and which are well worth the consideration of every intel- hgent person.
 efhe rate oi interest which the De. paftmeut has recommended, per cent per anHah. Is eNiaenee that Il h moi fhe intention to ea iato 1he banking business of to compete with existing savings institutions, which pay i'll | great many instances, per cent per annam. tn the contrary, Il K propos= ed to fe-denosii the money witch k brought lo fhe post offices, in national banks in thc locality where t k first eeeieed, tha. making il immediately available for the financial and business transactions of The community towheh il properly belongs.
 fhete are three pfimas results which | should be all 4ined es the establish. ment ot postal savings banks; isl. The forming o( hablls ef economy and unfit ny the great imass of lhe people 2d The pro iding ef 2 place entirely above suspicion fot tho deposit of funds. 8d The bringing into circulation of vast | sums ef money now boarded here or sent nut of the country by foreigners
 While there are many communities in tho Eastern states fortunately stu ated as to banking facilities, statistics Indicate that of the s6, atA eee, ,,a9 depo- sited in savings institutions through out the United States, the combined l holdings of thirty five States are but s l per cent of the total. There are, there lore, great numbers of our people who are practically without banking facili- ties. Indeed, II k found that in the South the average distance from the | posi-ofllce to the nearest savings bank |
 Rockies IL Is 5a miles.
 l There can he no question as 10 the advisahility of encouraging the foreign CTS within our borders to make such disposition of their savings that some benefits will accrue to the communities in which they are emTl ,yed. Most of these people come from countries In which postal savings banks have long been established, and they have little confidence in any depository for say ings which is not absolutely vouehed for by the government In the fiscal year ended June 90. 1907. money ord CTS amounting to x;s.0so. .oi Jeff this country in the calendar year 1907, sa4. .sss, io.o4, to repienish foreign cof- fcrs; and, in addition, many millions were, undoubtedly, sent through the agency of banks and express cenpa- nies.
 The character of the immigration 10 i this country k undergoing rapid and significant change. This k subject <, for serious consideration and one which has an important bearing upon the matter under discussion.
 The eNpease Io the government In connection with the operation of postal savings would not be great. In Cana ia, where Saea. .a0. .tssl have been fe- eeived and returned to derositors in the iast lhltty-nlne years, and where al present. Sia, ,ts0, ,gso are on deposit, the total expense to the central establish ueut at Toronto ls given as sss,,ssa an- I nuslly. Outside Of that city the work incident to the system is included in The duties of regular postal employees. 1, In the United States the work could te performed in money.order offices by the