Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-08-22

ization for Uncle Sans 1
Until this committee makes : oa1
the board will not again mo-. 'ep1
chances r that 1t will nor ~ \
until late in the fan or earlv
winter. III
Many letters have been
from postmasters, clerks in bant'
clerks in postoffices asking e. 4
sitions in the new postal banL
when 1t is installed. *%1
When postmasters and c,o.,.
presidential offices learn h..
will get no additional common,
for the work incident 10 bansa|
postal savings there is bound \ y
good deal of complaint. Y
An official remarked to the re,.|
sentative of this paper that men n.y.
not apt to go out of their wsv i
rc~n work and more responsha]
= there was more Commenced
ot.a0hed to it. This, he said. is rs)
tically the condition that effects !
presidential postmasters and All
clerks under the postal SAVINGS h1
law. None of them is allowed os1
compensation for the additional W
that would follow the e~stablisbml
of a savings bank at their offices
Postmasters at the smallest ofs
who are appointed 20 their posit,l
by the postmaster general and No,
the president as are the Others i
allowed a small commission for Il
extra work, 1t amounts to one-fop,l
of 1 per cent of the amount denostl
with them on which interest il p,l
each year.
But on the other hand II is said
keen interest in the new system
shown by individuals in various nal
of the country. Those who are ses|
ing for a safe depository for their al
ings which is guaranteed by the rnl
ed states government, which is Nd
dependent upon investments or speeI
lation for its support and for profl
it is said, are looking eagerly fI
ward to the establishment of the nd
tai savings bangs.
Section IL of the act providing A
faith of the United States is solemn
pledged to the payment Of the depl
It's made in postal savings deposito]
offices, with accrued interest therel
nu 1arAf, rrnHf1AI - II 9n aI.s-l
that this faithful pledge of p~roteetl]
by the government Will do more gol
than anything else to release from
hiding places millions of money nd
boarded by thrifty but ignorant ped
pie in out of the way places.
Indeed, the cashier of a promine1
national bank in one of the largd
eastern cities, which asked to be mad
banking depository under the nj
system. has written TO the departme]
expressing the belief that the new a
viii do wonders in that way,
He recited two instances to shoE |
what an extent and in what a pecad
way some folks save and keep lard
~iliiiD VI liitAltys III Il itt1iA HllWt q
in his state, he writes, thri
were killed who had in It'd
clothing money TO the amount Of ~,
900. In another instance a mar VI
who had $500 concealed
his clothing. People like this, |
writes, will never give up their moni
for safe keeping to anything short |
the United States treasury or soTl
government institution for which Il
government itself will stand respat
A prominent member of conerei
representing a district in one Of /
biggest cities in the country, is urg |
that the postoffice there be seleei
is one of the postal savings deposits
offices. He writes that between
md 500 of his constituents have VIII
urging him to bring 1t abo1
Among the prominent banks of Y
country that have applied to be MAG
banking repositories under the nj
are the National Bank Of q
en-, the oldest bank in Salem, Mass
he Corn Exchange Bank of Philada
,hia, the National Bank of CONNER
md the Bronx National bank, boy
# New York; the Penn National ban
# Philadelphia, and others.
1t will require some little time
orange the details for the new s'
EN-, it is said, and other conntte
which have such a system WIFE
lrawn upon for information n y
history of their experience, that y
american system may profit rs faF
possible thereby.
Consul General John t. Grifilths
london has submitted to this Cover
nent reports of the postal saVia7
operations in the United klngo"
where the deposits amount to neiI|
LOCO, 000, 600.
The first distinctive stamp for "
POSTAL savings bank system has pel
.pproved by Postmaster Geh'
Hitchcock. 1t is an unpretentious g
lem, resembling an ordinary Z-,'
except that it has no poriia,
n it, and will be used exclusives =
he Official mail in conducting H-
.ostal savings business.
The first order for 100000 Of tts
has been given. The mcts
alue of 2 cents each is placed on y
in order that an account ms
e kept Of the expense attending ~
administration of the postal sayins
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