The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1909-09-23
ISSUES A CHALLENGE
TO BANKERS
POSTAL SAVINGS BANK LEAGUE
POINTS OUT A FAVORABLE
OPPORTUNITY.

/ Chicago. Sept. 22.-Open hostility Of
the American Bankers association to
! the postal savings bank idea. which
vas declared during the annual con-
I vention. has brought out a sharp chal-
/ lenge of the patriotism of the associa-
ton from the Postal Savings Bank
league. During the convention an
open letter was addressed To- the
! Bankers association, containing this
challenge:
/ The American Bankers association
could aid its business by indorsing the
postal savings depository system as Il
desirable auxiliary. and aid to the
banking strength of the United States,
and stiil more important. as a great
hesaeficicnce and practical protec-
tiun IT, men, women and children
whose welfare and prosperity neces-
sarily becomes your need and your de-
sire. Here IN tile place and time when
broad patriotism urges that opposition
To the postal depository measure fav-
ored by President Taft shall cease,
and that the American Bankers assoc
{ citation win the trust, esteem and pro-
/ found respect of the American people
. by publicly and frankly indorsins that
+. measure unmindful of seeming and
immediate self-interest To the con-
! trary.'
! The reply made by the Bankers as
ISOLATION was adoption of a report:
/ I'VE are hoping that the question "a
! postal savings pIedged) will be turned
over to the monetary commission. and
l A.HEn
/ tor Aldrich's commissionD will include
/ I'm its final report promises of a future
! development 6 American banking that
/ Will assure all the people that legisia-
/ tors and bankers. working together
! can take care of the banking needs of
/ the American neople.'
The challenge OF the Postal Savings
/ Bank league. which was signed by
/ both President Julius Goldzier and
| George II. currier. chairman of the
executive committee. was based on
! this promise: Opposition to postal
savings banks. which. while contrary
to public opinion, liz also. as we be-
] liese. contrary to the best interests of
the banlsin. interests.
Experience in other countries of
these institutions is no longer a ques-
zion Of speculation. Decades of ex-
perience of foreign nations has demon
strated that the system that makes the
small deposits of the people secure be-
y"nd "A doubt. makes for economy ana
thrift. raises the standard of patriot
ism. Is check upon unruy tenden-
ctes, and In every manner Ii a factor
In the prosperity of nations.
kar nfr
eyes t. these facts. Postal savings
banks will come in this country as
they came in Great Britain, France.
Italy and In almost every civilized
country On earth. They will come
| whether YOU oppose them or NOT. 1t
would nc the part of men engaged I'm
the most important business of the
country to recognize this. and to speed
rather than To retard tho movement.
THE result cannot be different i'm
this country with its untold resources,
The hoardings Of the people who dis
trust banks. conseryativeiv estimated
at $500 .eo0.aoo, would De brought into
circulation. and To that extent would
aid the money situation. But far more
valuable that the availability of this
great amount is the fact that by
means of postal savings banks the
millions of wageworkers, the miners
and the woodmen in the most distant
sections. the women and children
everywhere. could be trained to habits
OF saving. General thrift and economy
inoeulated among the masses of the
people must find Its reflection i'm great
increases of the funds deposited in and
flowing through the banks of the
country. We sincerely hope that an
enlightened spirit. which deals in the
hrst place with the welfare of the
many, will cause your deliberations to
result in fayorins rather than in op-
posing the demands OF the people for
postal savings banks"
The Bankers association, however
put its ., X. on the recommendation
10 continue IT. exert Influence through
the banks" of the country and to carry
on campaign Of education Ia mod
ifs the present public demand for
postal banks.
The report naisely states: The cam
paiga Of education which We started
has To considerable extent had the
desired effect in that To which they
had heretofore given only superficial
attention"