Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1910-01-30
TAFT STANDS PAT ON ONE
PLEDGE.

President Taft seems to be in earn
est in his desire to carry out some of
the pledges of his party in the last oI-
ection. He fell down in the reduction
Of the tariff that was promised. Per-
haps he did the best that he could IN
the face of the pressure of party lead
ers and party industrial magnates.
But the result has been anything but
satisfactory to the public. 1t is to he
hoped that he will meet with better
success in he effort he is now making
toward the establishment of a system
of postal savings banks, somewhat
similar to those in vogue in Europe,
and which have been found very ben
effcial as stimulators of the saving
habit among the poorer people.
The Republican party took up the
postal savings feature6as a weapon
with which to fight Bryan and the Ok
lahoma plan of insurance of deposits
by a guarantee fund accumulated
through tax on all banks. This sys-
tenn was decried as calculated to lead
to wild cat banking, and as throwing
O. responsibility for losses on the
batks of those who conducted their
banks sagaciously and honestly. The
Republican party committed itself fair
ly and squarely to the postal savings
bank as better medium for the mass
es of people DESTROYS of saving their
money under an absolute guarantee Of
safety. Soon afterthe election, though,
its leaders showed decided lukewarni-
ness about carrying out this plank Of
the platform. They had heard from the
financial centers of the North and cold
feet had been the result.
The charge has been openly made
that this plank was mere subterfuge
and that the party never had any in
tention of honestly supporting such q
thinks otherwise and has insisted on
a redemption of the pledge to the peo-
pie. The bA introduced seems to Gov
er the ground thoroughly All over
the country postoff1ces will become de-
posting stations. Their the people can
hand in their savings in amounts of 81
or above, not exceeding 500 in q
month, receive two per cent. a year
interest thereon, and be relieved of
any anxiety as to its safety No one
will be permitted to deposit more than
500 in year. The system is not in
tended for those who are capitalists
and able to save more than that am
cunt in twelve months Those who
are very poor can secure deposit
cards, buy ten cent stamp every now
and then affix it to the card, and
when the card contains 81 worth of
stamps turn it in and get credit for
that amount on their deposit books.
The money deposited with the govern
ment is to be deposited by it in the
banks of the neighborhood, which will
give indemnity bonds and not collat-
eraI security, unless they prefer to
furnish the latter
The plan outlined above seems en-
tirely practicable. There is a notice
able absence of red tape and one Of
the chief objections urged by the bank
ers, that it would lead to the concen-
tration of money in the East, has been
removed. The government pledges it
self to keep the money deposited with
it in the neighborhoods whose people
have deposited it. There is apparently
no reason why such a bill should not
receive hearty support in Congress, re-
gardless Of party lines The people
want postal savings banks in many
localities, and the government can
well afford to undertake the expert
ment. In the cities already possessing
savings institutions, well conducted
and paying four to five per cent, the
postal savings banks will probably be
but little patronized In the country
districts and small communities de-
void of such advantages they may
prove a great blessing.
Two hearts that beat. as one seldom
Iro