New-York tribune., 1909-01-05

4 summary Of The answers received and |
4 she answers themselves given beovs
Ranking commissioners, Insurance commission
srs controllers and bank examiners representing
fifteen states have contributed TO The IF1ouhes
symposium On postal savings banks. Nearly All
she states represented are the ones in which me
greatest demand for postal savings banks might
he expected 70 exist They are the agricatural
states OF the West and South, in which the popu-
rssSon is widely scattered and in which there are
comparatively few national banks and savings
hanks Of the type well known in the East Inc
Information contained in the replies OF these OF
cals that there is practically no popular demand
fer the postal banks. therefore Of special IN
.erest Prom Oregon comes the reply that a very
lerge majority Of the people OF the state are iaVor
able" but answer to the first question is
,,sr,slfv 2 categorical No" cases the re-
niles are notifications such as. No such demand
q Il exists has found public expression, and L
-hink not" Mr. Ray. OF Montana, said There Is
v r,orrfIsr demand for q guarantee Of bank de-
posts or that is not obtainable then for postal
savings banks
The banks appear TO be opposed TO the proposed
snnovatIon. with the merchants either Indifferent
t- in sympathy with the hanks. upon which they
depend for their supplies of cash The chief OBJ
Section offered that under the terms OF the bill
she state hanks would be in danger Of losing DE-
,oeifs which would ultimately find their way into-
the corers % the national banks and possibly he
Ssttzrsxa from local circulation 10 the larger
financial centres. The banks object 10 having the
s-oxe-nuent as a competitor. As many comnunl-
sies hsx-e no national hanks It is thought by
shss they might hardship If funds were with
traS~n by the tirnid from the state banks in time
II financial disturbance, 10 deposit them in the
postal bank.
An ob,ectton IN the East. where the state
xsx1nrs bank system is firmly established and the
s-x=str,euts pf such hanks strictly limited
70 the highest grade OF Investments and TO mort
cages on real estate. is submitted by William P
Goodwin the Bank Commissioner OF Rhode Island
he frsT
hanks world probably take from the public so
much Of the funds available for -loaning on
mortgage as would otherwise go into the savings
hanks for Il would hardly practica bic for the
rza,-s--7rnent to organize a system determining
real estate values for the purpose CT making mort
gage loans
Mr Goodwin also sees a possible advantage from
sAe hulent of postal hanks II is that money
how boarded by foreigners because of their dis
/ srrst OF banks would be brought forth and de-
posted government postal bank because it is
rhe kind of bank they have been accustomed TO at
home Nr Steel. State Bank Examiner of Oregon
who seems TO be enthusiastically in favor of the
ryoFfal bank also believes that it would be bene-
fetal because Of the money which II would draw
out Of the stockings or the public Mr. Groom
Controller OF Florida. says there is objection 10
she urorosed system because Of Its tendency to
rentralize power in the government. contrary 10
our form Of union' in other words. because II is
contrary 70 the Democratic principle Of states
rights.
%es-4v sa the various contributors the sym
,osiun1 who reply To question No believe the
present banking facilities in their states ample
The rfeRs Of the different oficisls addressed are
rereaisH below. the numbers placed before the re-
niles indicating the questions which they refer:
DELAWARE George w Marshall. State Insur-
Ence Commissioner;
tIb No sentiment fer il whatever t2l think
them indifferent 80 None that know OF. Every
il Indifferent % 70 ne mater s No our se
as5 All the hanks Of Delaware. both state and
t. eT There are tvvo distinctive savings banks
Wmiaga99 DaEs 6f er There 1 are two ssT
:nss banks twenty-sis national hanks snd nine
fote OF foTty-seven. 60 They erery 90 one: & VIII
{ssr gss interest," upon >''''' ''''>''''' " -
FLORIDA. A = Groom. State Controller:
q, 80. o2) Ne. 90 It's tendency wouid be to
e.ntrsize power in the soyernme9t o9IiaIy 3n soa 70
eighty Of states gasrsnteeing equal & rights ,. 70
each ad freeae esera q CONSTITUTION expressly pro
sides otner~ise .re IL are 9qs state banks and
81 9f them have savings dePsrtmeEts 50 Tile The
present ssss 81 fbe people % All or nearly
All both and national have saElngsa as aeparL.
Sc money in circulation and thereby in9ure busl-
ness
GEORGIA, r. Z. Park. State Treasurer;
q, Ne % Mevsr heard them hen DISCUSS f7 6bt 1T ss$ s
snes banks are aso &C ehiT in large rye
need sonls esSSte s se make I.p satisfactorily 90
No answer
MICHIGAN II NJ. Zimmerman. State Banking
Commissioner
The state bankers Of Michigan are very nuch
concerned over the proposed establishment OF
r.orTaf aerossforEes- Without question their estao
f,ssr1er,t in this state would bring about an IRE
rarabie f1furv 20 the business Of state bankers
ne Garter BILL before Congress, Tor the
Sst,sfruent postal repositories IN my opinion
cannot lee justified + ON aLy siaAoIolt o'hsf '0
fheT Of the national banks
T-rser Tfe urouose6 postal savings plan, am IN
formed that the moreys received BY the postal oe,
positorsss would IN turn be oeposlfed IA nalohhl
banks Thus you can readily see that the money
Withdrawn from the savings banks would not De
returned 80 them. Il such measure should pass
ongrss tt certainly should provide that the state
hangs as well the national banks, may De the
recipients Of funds deposited VITA the postal
repositories. -, -,
while on other hand, there are So state oanks
s.nn.,anIes total OF 2lsooeoe with deposits
- xads 40 ae II is rlain 30 that the slightest
fsrs uciai disturbance would PROMPTLY divert large
z,froe ~ =fe savings funds OF state banks 10 the
rostzs deTosisorfss ard then 20 the national banks
Tfss uouIe not enly bring about hardship 10 me
state banks from which the funds were WITH
ssres-r cut souid seriously affect Tnany conllini-
ti%s IN this from which national bank Is
dlstsn71E removed. Thus 1Se money beinnelns 70
thst particulars community would be Htthdfa"n
arc Tlscsd aiSeuleTe.
Nstseat question Section Il of the proposed saw