Bisbee daily review., 1909-01-29
POSTAL SAVINGS BANKS ARE A
 GOOD THING
Says Chicago Banker-Would Teach People to Save and Give the Regular Banks al Big Boost.

begin 10 doubt the wisdom of the ac- lion of the Chicago Clearing House As Scciation. which is the latest, and of similar bed es of bankers fin Middle Western cities. in protesting against the proposed postal savings bank bill. The bankers themselves are not a unit on tIe protest. a-d t-e feeling created Is intensely hostile
 Prominent Chicago bankers have privately expressed themselves in fay. CT of tls Carter bill. as now amended. They have said also that the heads Of many other D g banks sere and in other cities where '.anti-postal bank" resolutions have been adopted realize that the establishment of government savings banks will bring money to existing savings banks rather than hurt them but have felt themselves bound by the action of the American Bankers Association. It is feared that opposition tO the measure will react as a boomerang upon tae banks in general.
 The argument that postal savings banks are unwise because they would cause a drain Of funds from existing institutions is not only selfish. but untrue" said one banker. Tt Is only tie shoTtsighted banker who does not realize this. Publicly all bankers are cppoSed to the measure, but privately there Is no unanimous opinion. If the people really want postal banks they have only to demand the
 immediate passage Of a bill, and op- position on the part of financial in l tsrestS will fade away like smoke"
 The resolutions of the Clearing House Association drew vigorous re ply from the Postal Savings Bank League of the United States. which has headquarters in the First NationaI Bank building. in the shape of spe- cial statement by President Julius Goldizier, wno was formerly member l of Congress from the Fourth District lcf Illinois. The advisory committee of the League includes Governors Gil christ of Florida. Noel of Mississippi and Brady of Idaho. ex-Senator Mason Of Chicago. and Mayors Cornell of Kansas City. and Hooker of Hartford. Conn
 "A complete answer to the fears of | those who believe or profess to be lieve that postal savings banks are = ! det.iment Co the banking business is furnished by the statistics of those countries which have stablished these ' peoples banks" said Mir. Goldizier Without any exception the figures show large and marked increases in de.csits and in the number of deposit. ors in savings and commercial banks.
 Take the instance of Great Britian fEurH rar ~ a. records individual savings deposits (postaD of 10.332, DOC. These figures
 make approximately one out of every icur inhabitants 9 depositor without ccunting savings deposits of oyer q hiliien dcliars.
 In the United States. with a popu laticn of S7.GO0,000 thers are S.700.0e0 savings accounts. and thus only one cut Of every ten of the population is 1 a dspositor. Again. the fact that say ings deposits are made by the well to
 do in this country and by the poo7eT classes in England is shown by the ! average amount of the accounts. wzich T is S420 in this country and SIS in the
 British postal savings .baaks- Ca1 any banker dispute tie value to his business Of having the bulk of the lpOpulation trained and educated to methods of saving?
 "A conservative estimate places the iamouut of money which is withdrawn
 from circulation and hid in stockings stoves aud safety deposit vaults al fivo hundred million dollars. Does
 any one doubt that the bulk of tais
 money would go into circulation as soon as a system is established which
 makes the savings of the snnall dspos,
 itor as secure as is the Nst'on itself'
 Would tfis or would it not result in
 benefit to the banks? If not. then
 why all tiis scheming and planning ol
 which We have heard so much during
 the last year how to get the funds oul
 of the safety deposit vaults and into c.rculaticn2
 One feature of postal savings bank
 Is certainly overlooked by the inter
 csts whica oppose them. These banks
 when estabiisiftd will reach everl