Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1910-06-23
POSTAL BILL PASSED
ssnses Accepts House Amendments
and Measure Will Become . Law
Iowa Senators Opposed to The Last,
Despite Welding Of Big Stick.

: washington, June 23.-After voting
down several amendment the senate
decided by q vote Of a. to 25 to con-
cur in the house amendments to the
postal savings bank bill and thus took
the last legislative step necessary to
the establishment of q postal savings
bank system in the United States. The
measure was included In the adminls-
tration schedule and its passage marks
another triumph for President Taft.
Most Of the "insurgent" republicans
joined with the regulars in supporting
the measure in the final action on It
but Senators Bristow. Cummins and
11aEolletto refused to yield and cast
their ballots in the negative with the
democrats. Senator Chamberlain cast
the only democratic vote for the bill.
Previous to the voting there was
much discussion Of the bills. The first
of the speakers was Senator Bristow
Of Kansas, who said he would rather
stay in washington a month longer
than accept it. He asserted that ma
tority OF the votes for the house bill
would be cast by senator's who wanted
no postal savings legislation.
Carter Favored Amendments.
Mr.. Carter admitted his desire to
have the bill amended in some partic-
ulars but found such course amprac-
ticable so late in the session. He ex-
pressed confidence that the measure
would prove an unnixed blessing to
struggling men. women and children.
The postal bank bill, as it goes to
The president. provides for the designa-
ton OF postoffices as postal savings
depository offices. The opening of
such repositories is left to the discreet
Jon Of board Of trustees, consisting OF
the postmaster general, the secretary
Of the treasury, and the attorney gen.
eral. This board is given complete
control Of the repositories and of their
funds AZ 1t will require considerable
time for the board to prepare its reg
ulations 1t is impossible at this time to
predict wheE the postal banking sys-
tenn will be in operation.
In these repositories any person over
10 years Of age may make deposits of
funds amounting to 81 or multiples of
that amount. Pass books will be issued
to depositors and interest allowed at
the rate OF per cent per annum. No
person is to be permitted to deposit
more than 800 In any month nor to be
allowed to have exceeding $500 to his
Cfe01I 1t AI1y Il1JIS. xn0 OF
funds is to be permitted at any time.
The postal savings funds thus ac-
cumulated are to be placed in state and
national banks in the communities in
which the deposits are made, and the
banks was to be required to pay 2N
per cent interest. Five per cent Of the
total deposits is to be held by the
treasurer OF the United States as a re-
serve to guarantee the payment of de-
positorS.
lowans Refuse to Line Up.
Despite presidential pressure and the
waving Of the big stick over congress
by President Taft In order to get the
senate to accept the house postal saw
ings bank bill Senators Cummins and
Oolliver refused to line up.
They voted against the house bill on
The final vote, this evening. Senator
Cummins voted directly against it and
Senator DoHiver was paired against It.
Their position simply il that the house
hklI = Questionable and that It does