Judith Gap journal. [volume] (Judith Gap, Mont.) 1908-19??, 1909-10-08
BANKERS MUST BE SHOWN.

In his ADDRESS Dtloie lllS -A"N |
Bankers Association, Banker Henry
$ Hpnschen of Chicago, is reported
ia lave said. referring to postal saw
iuas hanks. that "if the good OF the
cc,,ntry demanded tlaat the experience !
Of trusted and intelligent men as cas- !
tcAians of the peoples savings may |
Ea disrega rde,I and the custOdl"nsillp
1aturned over to third ana 1nurth
class postmasters, The bankers would
2cGulesce."
In the winter Of l@o7-"oS, when
NE "trusted and Intelligent men
we've at their wits enGs and when
Factories were diseharging thousands
Q" employers, cash payments on say
in accounts paid into 'third ana
f. .gth class postNastprs would have
y IN much more ace 5pt"hle than
<.!os.n Smiths" The $500. $3.50. 900 de
posts IN postal savings banks ia
Great Britain, the s-,O0, tH)o, 600 III pos
til Swings banks jn France and the
Immense deposits ii similar BANKS i'll
q ;,oI, II utitrcountIies are Undoubteh-
IL halWall1 against panics And it
is not records hat HI bankers i'll amy
9: ihoso countries staINs. 80 without
automobiles nr fail tx send their fam
iiiss 10 summer resorts.
I'M iii; panic message ri D9c.3. 1901,
President !.uuSeE2it, commanding the
Ii0Vosal ol the ioatma sttrU General 10
create postal savings banks said:
~ ie"tl, however, from the expert
eng. Of the past few Weeks it is ev-
se!.t tnat advantages a :,u"ian in
8, tut:Un are still n0rr far reaching.
'ii.nid depoaitorS have Withdrawn
f. Il savings for the tilne being from
,:;;ioaal Banks, tuls, companies and
s@;ill.:s hanha: all of winch money
rs iye,,l withheld ana kept in hiding
% to the detrlnte!tt 81 prosperity.
;roHsh The agency ri the postal SAY
mss banks s;.cli money would be re-
S cred to ;he channels o. trade, 70 he
I4,!tusi haneIit Of LABOR ard capital"
Banker I;enschen, like many OF his
fel ,oW5 wl!u have strtnl,"Hsly Fought
pG&ta, 1;.vi!.3s tank legislation is dis
Ingenious when he suggests that the
savings II tie country are, asa whole,
nov bGi:ig cared for by ''truSted and
iMte'iig: 4, men, meaning managers
&, vi: - hanks. In his inaugural,
I..'sioen. Tart says: ''if there were
savings banks iii all the country rs
/ III n:eto,;& RS they are in Massac!lu-
Set IL t,:e New England states and
III \ w \ cr'1. it might BE said that the
! postal savings bank would be an in
| vasian 0. territory occupied by rri-
I vatt enterprise. Bat Wha" it is con-
sideted tnati. i! on!y eleven of tiiestates
are there savings bank facilities, it is
seen that private enterprise does not
! surniy lie need. We shouldn't deny
i to tie people Of 81 states opportunity
| to make small deposits, with the Sc
[ CURT. OF the government promise to
] pay principal and interest. He en-
7 pi!;sized this view in his Milwaukee
/; speech
/ ''Anythlng," says the Wall Street
I Journal, that will serve to inspire the
/ american people with an ambition to
| save will increase The investing power
| ~ the country, and this investing
I power will provide The means for fur
I ther national progress.
/ Precisely. But it appears to be
extremely difficult to make the aver
I s,Ga banker see this. His own inter
Post Dispatch.