The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1908-10-04
POSTAL SAVINGS BANKS.
Machinery Of Congress Already
Started for Postal Savings
Bank Law.
A safe and sane Plan for the Com
vsniencc cf the People and the
Encouragement Of Thrift

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1--WE favor the establishment on
postal savings bank system for the con-
yenIcnce OF the people and the encour-
agencnt Of thrift
This IL the declaration Of the RepuD-
lican national platform, and postal saw
ings banks will without doubt be az.
thOrized by law and established az
pnrt Of our financial system BY the
action OF Congress at its coming ses-
sion, which WIN be convened in Decem-
ber Indeed. much has already been
accomplished towards the enactment Of
this law. At the last session OF Con-,
gresS bill was carefully prepared
which met with the approval Of the
Postmaster General, and was reported
upon fayorably by the Senate Commit
tee on Post Offices and Post Roads,
This bill Ia now on the Senate calendar
and can be acted upon 80 soon AZ Con-
gress ID convened.
The scope Of the proposed law II set
forth In the committee report, which is
in part as follows:
Committee Report.
The purpose Of this bill is to place
at the disposal Of people Of small
means the machinery Of the Postotice
Department to aid and encourage them
to save their earnings. The subject Of
postal savings banks or Repositories y
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
iect OF discussion In England as early
as 1907. Every objection to such use
Of the Dostoiiice facilities urged In this
country was vigorously pressed In the
longcontlnued 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 1881 an act or Par
lament was passed entitled An act
to grant additional facilities foe de-
posting small savings with the security
OF the government FOR the dge repay
ment thereof" That the alarm Of pri.,
vate institutions was III founded Is
amply proven by the recorded fact that
the private savings banks increased
their capital BY more than ten millions
Of dollars In the first fifteen years fol-
lowing the establishment Of postal saw
ings institutions.
That the postal savings institutions
proved successful Ia satisfactorily at
tested by the fact that no backward
step has ever been taken II England on
this subject and by the further fact
that In rapid succession the lead Of
England was taken by other countries.
The primary purpose Of these insti-
tutions Is to encourage thrift and
saving disposition among the people Of
small means BY placing at their dis
poSal in every part Of the country
ready facilities for the deposlting Of
small sums with absolute assurance Of
repayment on demand with low rate
Of interest on limited aggregate
amount.
Postal Savings Banks Needed.
In certain parts Of our country saw
ings institutions are sufficiently numer-
GUS to accommodate the people, but
such areas are quite limited. being con-
fined to New England and New York.
1t Ii alleged that by reason Of the num-
Der and location Of savings banks there
is one savings account TO every two Of
the population OF New England, where
as in all the country outside New En-
gland and New York the average Is
only one savings account to every 157
Of the population. Taking such figures
to be approximately correct and recog.
mixing the fact that the people Of oil
sections Of this country are pretty
much the same in habits, inclinations,
and purposes, II must be obvious to the
most casual observer that the people
Of the South, the Middle West, and the
West do not save their earnings as do
those OF New England from the mere
want Of secure places in which deposits
may be made.
10 those who feel inclined to bslieve
that the establishment Of postal saw.
lngs repositories viii involve, an ole
ment Of paternalism 1t seems quite sut- |
fcient to suggest that the machinery Of
the Postofice Department Is now in ex-
lstence and will continue to exist with.
out dlminution Of expense whether
such repositories are created or not
and chat the establishment Of these
repositories for the benefit Of the
people will not involve one farthing Of
loss to the Post-0flce Department, but
will probably on the contrary, prove
more than self-sustaining, Very slight
computation will clearly demonstrate
that the postal savings deposltors can
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