Arizona republican., 1909-02-01
Bankers Admit That Their Op-
 position is a Boomerang MEASURE WOULD HELP
President Julius Goldzier of Postal Savings Bank League Points Out Benefits to the Banks as Well as to the Public in General.

Chicago, Jan. 29-(Special Cores pondence of The Republican.J-The bankers already begin to doubt the wisdom of the Chicago Clearing House association, which is the lat est. and of similar bodies of bankers in middle western cities, in protest ing against the proposed postal say ings bank bill The bankers them selves are not a unit on the protest, and the feeling created is intensely hostile.
 Prominent Chicago bankers have privately expressed themselves in ia vor of the Carter bill. as now amend ed They have said also that the heads of many other big banks here and in other cities where anti postal bank resolutions have been adopted realize that the establish ment of government savings banks will bring money to existing savings banks rather than hurt them. but have found themselves bound by the action of the American Bankers as sociation. It is feared that opposi tion to the measure will react as boomerang upon the banks in gen eral
 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 the shortsighted banker who does not realize this. Publicly all bankers are opposed to the meas ure, but privately there is no unani- nous oDinion.
 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 terests will fade away like smoke"
 The resolutions of the Clearing House association drew a vigorous reply from the Postal Savings Bank League of the United States, which has headquarters in the First Ma tional bank building, in the shape of a special statement by President Julius GOldzier, who was formerly member of congress from the Fourth district of Illinois. The advisory committee of the league includes Governors Gilchrist 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 that postal say ings banks are a detriment to the banking business is furnished by the statistics of those countries which have established these peoples banks" said MT. Goldzier Without any exception the figures show large and marked increases in deposits and in the number of depositors in say ings and commercial banks.
 Take the instance of Great Brit ain. Out of a population of 44,000. 900 it records individual savings de- posits (pOstal) of 10,332 900. These figures make approximately one out of every four inhabitants a depositor without counting savings deposits of over a billion dollars.
 Tn the United States, with a pop ulation of S7.OO0.OOO there are S.7OO,- 900 savings accounts, and thus only one out of every ten of the popula- ton is a depositor. Again, the fact that savings deposits are made by the well to do in this country and by the poorer classes in England is shown by the average amount of the ac- counts, which is S420 in this country and S73 in the British postal savings banks. Can any banker dispute the value to his business of having the