Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-08-09

ANN ILLS ~ %GAA AnAAh anu Ant iAdAA-
tenance Of q large clerical force fin
this city. With the bank in operation
in the large cities and in hundreds OF
cities Of the second and third classes,
il Is estimated that the number of in
dividual deposits would aggregate
100000 in a comparatively few
years
The department committee which is
working out the details OF organize
ton Of the new bank has under con-
sideratiou q device as a substitute for
the pass book. IL is open to serious
objection. ia that 1t would bring into
use a new form OF currency. This
/ plan provides for a registration OF
deposits on a card carried by the de-
positor.
I This card. it is proposed, shall not
bear the name Of the depositor. 1t is
recommended that it shall be ac-
lcepted as evidence that deposits have
been made. AS the card would be
transferable. the adoption Of s'cI Il
pan, il r. usEeG 'rs@aIzs 81 n the
postal savings cards being "a as
CURRENCY 'EhtS 'acseasssg in EG%SSssstsys
the object sought in establishing the
new bank. namely. TO encourage saw
lAEs GTnrrc p+epls- WhQ- are timid.
approximately 500 postmasfeFs
have asked hat their offices be des-
,ignated as postal savings banks, and
over SEQ national bankers want their
institutions designated as deposit
tories for postal savings.
Foreign governments are showing
so little inclination to give informa-
don 10 the p~ostoffice department
concerning the workings OF their
postal savings laws that the suspicion
Is gaining ground here hat they are
anxious to delay and hamper the es-
Enlistment of these institutions.
Facts are being obtained with ut
most difficulty as TO details OF man.
asement such as might be i~ncorpor-
ated in this country's new system.
The reason for this conduct. ii Is
believed here in Washington. is that
now many millions of dollars are sent
by immigrants who have been in this
country for a short time back to their
relatives in Europe. Much Of this is
back TO be put into the postal
banks abroad.
II this country establishes a sound
system II viii follow that much Of the
drain TO Europe will be cut off.
The post0ffice department is de-
uged with applications from all parts
Of the country for jobs as bookkeep-
FRS under the new postal bank sys-
EN- These are coming by the hun
iFeds, regardless of the fact that
here are no such places to be filled.
II seems that somebody heard that
eco boOkkeepers would be needed
~ the department before the new sys-
could be inaugurated. The story
vas sent broadcast and wherever il
vas printed there developed with
tarthng rapidly a new crop of ap-
~'licants.
The fact is, about 1900 bookkeep-
RS VIII be needed to keep the ac-
OF h savings hanks a soon
; 4.VpV offices are equipped. But it
also "A fact hat these accountants
Ill be recruited from the present
ostal force. Each office viii pro-
iae a ~bookkeeper from its own EN-
:
Then the department has other =,
'oubles- Stamp collectors from end :
} END OF the land are trying to buy Z
stamps. These stamps have !
issued for the mail of the postal Z
bank business solely and are 4
u lot sale in Washington or else !
mere. Yet scores OF collectors are 4.
.lportuning h department to send +
and with each polite request Z
mes a number Of postage stamps to <
'veF cost. =
Requests are also pouring in from !
dlFiduais who have "a few dimes =
ueposlt as one of them said. for i
post banks, Next to the stamp col 4
tors these would-be depositors are 4
e most lnsistent. They cannot un- )
rstand why the mere passage Of =
9 postal savings bank bin does not 7
title them to make deposits right K
". They can see no excuse for de- i
I and refuse to take an explana-
n. x
in various states are +
'moring for Information as to the T
tus or the new system. They saw
~ are being besieged by their con-
to hurry up the department. !
ey ask in most cases if it is not pos =
ie 10 install a bank or two in their +
tricts at once.
mere may be no interest in the Z
y banking business in some quar-
5, out 1t is very evident that there i
plenty Of interest i'm others. Daily Z
departments postal savings mail \
increasing. More and more bank +
are asking for their institutions 10 +
made repositories for the savings +
lbs and more and more postmasters Z
hoWlng Impotence for the in !
nation in their offices. 4
h