Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1909-10-26
A POSTAL BANK LESSON.

for vicious crimes.
A POSTAL BANK LESSON.
| [Sioux City Journal.1
Why the demand for postal savings
| banks?
The case of Mr.. and Mrs. Thomas
Wendt, OF Omaha, helps to throw
some light on the question.
The man is a track walker, earning
perhaps $3.50 a day. The woman does
washing. The pair, as the name indi-
Gates. are thrifty. Years ago they ac-
cumulated $1,000 in savings. The
! money was entrusted to a bank for
safe keeping. The bank failed. Mr..
and Mrs Wendt lost confidence in
banks.
| The desire to provide insurance
against old age remained. The couple
continue to work and save. But thu
money was not placed in a bank. In
stead it was slowed away in a tin boz.
Savings was a slow and toilsome proc
ess. When the fund grew from year to
year When a bundle of small bills
accumulated it was changed for a
| large bill. and the bulk of the hord
was kept within the space limits of n
tin box. Mrs. Wendt was treasurer.
At night the tin box was hidden away
in some supposedly burglar proof
nook. During the day the treasurer
kept the tin box by her. even when
she went out TO do washings.
| For a good many years the system
| seemed 10 be big Improvement over
/! the savings bank. Under it the fund
grew to a grand total of s7,671-almost
enough to supply the wants of Mr.. and
Mrs Wendt during the years. close at
| hand. when they could no longer
work. Undoubtedly it was a great
| comfort to the old people to look at
the contents of the tin box OCCASION
ally and reflect that the future was
provided for.
| The other day Mrs. Wendt took the
precious box with her. as was her Gus
tow, when she went to do washing.
While at work she hid it in clothes
basket When her work was done she
looked for the tin box where she had
left it. No tin box was there. In
place of it there was a wooden cigar
box. The wooden cigar box was
empty. The fat roll of bills that
meant years of food and fuel and
clothes to Mr.. and Mrs. wendt was
gone. The man at whose house Mrs.
Wendt was working might have taken
1t. He said he knew nothing OF it. A
search Of the premises failed to reveal
any sign of it.
The track walker and the wash
woman. at the Threshold of old age
and inability to work, were face to
face with the perjury they had toiled
50 long and unremittingIy to avoid.
To them the loss of their life savings
meant tragedy deep and dire. Even
the most active imagination is likely
to fall far short of experimenting the
acute human distress experienced by
the principals in the tragedy.
1t is a pleasure to record that the
period of acute distress did not last
long. The police were equal to the
occasion. and the suspected man was
"sweated" into confession and restora-
ton. But Mr.. and Mrs. Wendt are
still confronted by a sleep destroying
problem. What shall they do with that
all important hoard? The bank has
failed them, and the little tin box has
failed them. Every thief in the coun-
try has been notified that they have the
money. What shall they do to protect
1T?
! Where does the postal savings bank
come IN? 1t comes in right here
| With a postal savings bank in Oma-
ha Mr.. and Mrs. Wendt would not
have to lose a wink Of sleep over their
problem. They have lost confidence in
the bank. but they have not lost conf
/ dence in the government. If Uncle
Sam could now assume the role OF
banker he could do business with Mr.
and Mrs. Wendt. If Uncle Sam could
offer to take their money, pay them in
terest on it and return it when asked
this thrifty couple gladly would take
him up. Every inhabitant of the coun-
try trusts the government to take care
of his property and his life. Trusting it
to take care of his money is a smaller
matter. Over in the old country Mr.
and Mrs. Wendt could and would have
trusted their savings to government
bank 1t is logical to suppose they
would do SO here if they could.
The postal savings bank Dis a big is
sue because there are thousands and
tens of thousands of Mr.. and Mrs
Wendts in this country. Someone has
estimated that the aggregate Of theil
little hidden boards is not less thar
100000, 900. 1t may be much more
1t would be big thing to have al
this money placed where 1t would be
safe from thieves and fire and rats
But that is only part Of the story. II
the postal bank the money would be
earning interest for dts owners ant
the whole aggregate OF Little deposits
would be In circulation, available fol
the needs of business.
. The postal savings bank is wanted
needed and promised. 1t is surel,
coming.
Foley's Honey and Tar clears the ali
passa1es stops the irritation in tn,