Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-10-02

Unless the postal savings bank system which will
~ be put into operation in this country in the early
part of November is a blessing to the poorer
classes of the United States, the who voted into
being and worked out the details of its plan will be dis
appointed They believe that it will go into homes of
the poor and teach men, women, and children to
their money They convinced that it will be of
the greatest agencies for good in the Government be-
it will teach thrift, and Thrift is the mother of
Prosperity
The SYSTEM centered and governed in Washington,
will reach out kindly hands to every town and farm in
the country placing at the door of each poor the
opportunity for investing and keeping safely the few
dollars he is able to from his living expenses To
the rich it will not be factor of any Importance To
the poor will be the greatest financial feature in the
nations life. 1t is the poor who, through kind of
superstous fear hesates to to ordinary banks and
it is the poor rule who, knowing that nstitu
ton is backed and operated by the Government
it implicitly. 1t is the poor who boards up his
money and keeps it in the toe of stocking and it is the
poor immigrant who, knowing that his home Govern
ment has postal savings bank SYSTEM prefers to pay
the expense of sending his savings out of the United
States to his native land.
When President Taft recommended the passage of the
postal banks act by Congress, he went the theory
that such system would bring money out of the toe of
the stocking and keep in this country the money mmi
grants have been shipping out of it. He also thought
that it would make for providence and industry Con-
gress accepted his opinions wise
In the last fiscal year one hundred and ten million
dollars sent to foreign countries for safe keeping,
and this whole sum was made up of the savings of
immigrants. 1t than four million dollars in
of the value of all gold mined in that twelve
months in the entire United States and all its pos
sessions.
On the desk of the Postmaster General in Washington
lies letter from great city the Pacific Coast
saying that it's postoce already holds than one
hundred thousand dollars to be deposited in its postal
savings bank it has been established. This
sum, the communication points out is composed of
savings of the poor Letters have been sent to Mr..
Hitchcock from several smaller cities saying that each of
them holds in of twenty-five thousand dollars for
the postal bank.
These facts prove that classes anxious to
deposit their money the keeping of the Government.
it is demonstrated that the plan safe and
trustworthy one, there will be almost ncacuable in
crease of persons who will patronize it.
How to Go About 1t
OFFICIALS of the Postofice Department have as
- sured the Postmaster General that he and his
assistants have devised the best plan in the world AS
it is now laid out with the approval of Mr. Hitchcock,
the poor who wants to deposit money with the
Government will be treated as follows
He will go to his home postoffice and turn in the
money he has, In return for it he will be handed
tfcate of deposit setting forth the he has left in
interest at the rate of two per cent The Government
will deposit all savings ntr1sted to it in banks in the
various towns and cities at rate of interest less than
two and one-fourth per cent. a year. Whenever the
trustworthy banks willing to pay than two and
oneourth the higher rate will be secured At any time
he pleases the depostor may draw out ALL part of
the sum he has put in. The Government guarantees