Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1909-09-14
POSTAL BANKS TO
WORRY CONGRESS
NEXT SESSION
To be One Of Live Problems
Before lawmakers; Believed
President Taft viii Advocate
Plan.

f ~ lEF8f' 80 'f ~ 'H' ff
the next session. il is expected that
President TAFT win advocate postal
savings bank legislation II is ecncr-
ally understood here aud at the sum
mcr eapital thut ho Vtll DO SO. he
believes in thu postal savings bank
system, IN thu first place, and the
party platform would require him to
advocate 1t in the second place.
ON the other hand. thorc viii bc
powerful Influences WORKING IN the
direction OF postponinR postal savings
BANK legislation senator Aldrlch.
chairman Of the scnatc finance COM
mlttee, wants such Legislation deferred
uhhl the monetary commission has
made IT'S report This is looked anon
by many friends Of postal savings
banks nv meaning that Aldric,i Is OBJ
posed to postal savings banks. aud Is
a""re that If the propositions adj
Vanced by the monetary commission
60 through there win be certain rca.
song not now apparent to advance
against this legislation.
Speaker Cannon is unfricndIy to the
postal savings bank system It is
pretty generally believed he has
stacked the house committee on post
OFFICES ana postroHds against postal
savings bank legislation At any rate
ne has pat at the head Of the com
mitteo Congressman Weeks of Massa-
chusetls. who IL q banker, and who.
has already indicated that hc thinks
postal awnings bank legislation ought
{" Wai' ON the report of the monetary
commission Nh. Weeks has hocn nc-
cus'd Of being umfricndly to the iden
Of postal savings banks. but IL resonts
this llr docs not deny that h. wants
To defer action for the enactment of "A
postal savings bank law.
1t is clear from this situation that
the postal savings bank bin is going
to have hard Shedding in both houses
of congress. President Tart MAY rec
ommend. but, Judging by the usual
course of things as to measures which
tue leaders do not want pissed. cN
cuses viii be found for delays and
postponomcnts. President TAFT. how
over, has injected into the situation |
an entirely new question ~ loast. ID
rs one that if not nrV to those vbol
have been giving most careful stud,
To the subject. is ncW TO- congress
TINS relates 10 the employment Of the
money deposited by the public in the
postal savings banks for the purpose
OF retiring the existing two por cent
bonds Tnasmnch ms There nrc about
$7O0. 900, 000 Of these TWO NOR cent
bonds. the retirement of amy constd
orablr part of them whom ~nronosnd
bv the administrations h~.rop,s mint
ter of large nnnnctpl moment
II is tho hrllof of thos, who bu,,
given the subt.ct of ro.t,l .|,,inra
hanks much tbntpht th1t ar..rtl buu-
drcd millions of dollars Nnutd Ia, a..
nositcd la tbc rostol sn,ines h,nls ,rl
they were once established This
amount npniied ia retirement Of tbr
per cont bonds Womb nav orr
about half of fhrm II Ia hardly Ia
be rNpoctcd that for a good mnnv
yenrs M lcnst thorr Womb Il, .nonyb
money derositod in mo postol awnings
banks To equal the ontirc amount of
the two per cent hnnds n is tru,
however. that profound students of
tho financial conditions i'm this conn
some of tho nhlcst of the @tr,as-
airy EXPERTS. for instance, believe thlt
sums of money that arr now
in hiding or sent 10 Europr for d,
posit Womb find th,t, way into the
POSTAL savings banks.
Thus far the plan of using tho de-
poslts i'm the postal SAVINGS hanks tn