Omaha daily bee., 1910-02-21
NEED SAVINGS HABIT
vSham Hayward Strongly Defends
I Postal Banks.
BEFORE CHICAGO CLUB
Ncbrnsknn Says United states IL
IaeainR nnd that steps should
ne Taken Toward De-
sired End.

CHICAGO, Feb. 20. r. Cspeciai)-Postal
savings banks found an eloquent defender
last night In William Hayward, who de-
lvered an address before the Hamilton
club. He declared the postal savings sys-
TEN to be the most important institution
Of any nations created within the last fifty
yeanp. and pointed out the success OF the
schKme in other countries.
The Hamilton club recently undertook the
investigation OF the banking q%ue=tion with
particular attention to savings banks with
> view to adopting resolutions advocating
the adoption OF the policy.
Mr.. Hayward's address follows in part;
- know not what your sentiment may
be, but I do know that the people generally
have made up their minds they want the
postal savings bank. They are found to
be we'll informed on the subject. 1t Is
quite generally known among thinking and
reading men that we. as a nation, are
bringing up the rear on this question. II
is known that this plan is past the ex-
perimental stage and that for fifty years
progressive nations and alert statesmen
have recognized the benefits to be de-
Arrived.
= MANY Of our presidents, including Theo-
dore Roosevelt and President Taft. have
been firm believers in and advocates of
this plan, and have recommended II in
their messages to congress. Every post
mAeter-general from Creswell in 1871 to
Hitchcock IN 1910, after careful study OF
the subject, has advocated it officially.
James G.. Blaine, as secretary Of state,
investigated its operation and dozens OF
4 bills have been introduced in congress,
while the ph1anthrophists, economists and
educators through magazine and newspa-
nara nm tho Iartttra rIatfnrTr and In the
class room, have pounded away in an effort
TO arouse the people to demand of their
I representatives a postal savings bank sys-
TEN. Hence. 1t came to pass in the year
1908, that Nthe republican party, the demo
cratic party, the prohibition party and the
Independence league each declared in their
platform unequivocally for the plan.
1T may be true, as Is claimed by some
persons who oppose 1t, that 1t was a sub
terfuge to take the place of the bank
guaranty plan. Be that as It may. the at
tention of the public was focused on 1t be-
cause Of the demand for safe, convenient
and widely distributed repositories for the
savings of the people, where small sums
may w. placed. with the government back
of them, and the fact that the quack nos.
trum of compulsory bank guaranty wa;
prescribed by DIR. w. ]. Bryan of Nebraska
H' hCAtAA tiNsN Va NAN-ollo AN
not lessen the real necessity for the sounC
tonic Of postal savings banks needed by
the patient.
Only Two Glasses of Opponents.
80 much for it's advocates. AS for it
\ opponents, as far as 1 can see, but tw,
classes seem to oppose 1t.
"First-Certain strict constructionists VIII,
profess to believe that we have no powe
under the constitution to establish 1t, un
der either the "Postoffices and Postroads'
or General Welfare clauses OF the con
stitution.
"Second-The owners of stock in privat
saving banks and the bankers in the larg
commercial centers with a small following
among country bankers, who are indus
triouSly at work through the medium o
the powerful American Bankers associa
ton with It's 10000 members.
80 far as the constitution is concerned
If the Postofflce department can sell
man a money order, payable to himself
why can 1t not accept his savings depos
and pay him interest thereon, under Gel
tain we'll defined rules and limitatlons?
one of the great reasons for the sue
cess of our party has been it's ability I
provide the greatest good for the create,
number without regard TO sectionalism {
special interests. Hence, II would be n
less unfair and narrow to consider
from the viewpoint of the banker tina
It would have been to have considered II
pure food law from the viewpoint of II
packer or manufacturer, or the questlo
of rate regulation from the viewpoint {
the railroad.
In the brief time allotted l shall Ell
deaVor to call attention to some of III
benefits which must result, the first
which is teaching and developing thrii
among our people, The substantial adva1
tages of bringing forth and conserving IL
actual savings themselves and their avail
khhity for circulation and use in all lin,
business is secondary, although | a
one of those who believe that the mon.
which win come forth from the old oyst,
! cans and the stockings will exceed
amount the most oFtomistic hopes Of Il
enthusiastic supporters Of the plan.
Great Benefits OF saving.
For many years two antagonist
theories of political economy were adv
ca6fd, the one the spendthrift theory. viii,
fouh7d its most active practitioners in Il
mushroom cities and mining camps OF Il