The enterprise. [volume] (Harlem, Mont.) 1899-1926, 1910-02-02
POSTAL BANK BILL
IS INTRODUCED
AND INTRODUCED IN THE SEN.
ATE BY SENATOR CARTER,
OF MONTANA.
PROVIDES 2 PER CENT INTEREST
LIVELY Tit in Upper House Over Rose
bud Reservation Opening Bill,
Ending in Its Final
Passage.

Washington, Jan. %. - The postal
savings bank bill, drafted by Senators
Carter. Dolliver and Owen, sub'com-
mittee of the committee on postomces
and most roads, was perfected and by
Mr.. Carter was introduced N the sen
ate. It was referred to the postomce
committee.
Particular attention was given TO a
scheme to prevent the concentration OIL
nostal deposits in the money centers
of the East.
This objections to the establishment
of nostal savings banks has been met
by a provision allowing banks recelV'
ing the postal funds for safe keeping
to give indemnity bonds in lien OF COL
lateral security, which obviates the
necessity of banks going to bond cent.
ers to purchase the securities required
by the government.
Provisions Of the Bill.
The bill provides that there shall
he established a system OF postal saw
ings repositories under the superV1-
sion and direction of board OF trus-
tees. consisting of the secretary OF
the treasury, the postmaster general
and the attorney general, acting e1-
officio.
They are to receive deposits from
the public and are to be kept open Tor
the transaction of business everyday,
SUNDAYS and legal holidays excepted,
during the usual postofflce business
hours of the town or locality where
the depositories are located.
Accounts may be opened in any pos
tai bank by any person OF the age Oh
10 wears or over and by married Won
, on in their own names and free from
, any control or interference by their
husbands. No person will be- permit
, ted to have more than one account
An account cannot be opened fo1
less than 81, and no more than $lot
z can be deposited in any one calendar
f month. All deposits must be in multi
/ pies of 81, but in order that smaller
a amounts may be accumulated for de
4 nosit. savings cards will be issued ant
n 1O-cent postal savings stamps sold.
q Deposits in postal savings banks
will draw per cent interest, credited
4 to the books of depositors once in eacl
s. year.
+ The deposits are to be deposited
g among the local banks on the basis
:, their surplus and capital and tn
q banks may give indemnity bonds t.
!. insure the safety and prompt repay
t. ment of deposits. At it's option an
bank may deposit collateral securlt
q subject to the approval OF the boarc
20 In the event that banks refuse to re
It ceive postal deposits on the term
8. prescribed, the funds may be deposi
% ed with the treasurer of the Unite
States.
;. Provision is made for the maintel
;, ance of a reserve fund, not more
.. amount than 10 per cent. of the tots
~ funds deposited. Interest and profit
80 accruing from deposits or investme1
of postal savings are to be applied
-, the payment of expenses of admin
49, tration and any excess is to be co
~ cred into the treasury as part OF pc
,o tai revenues.
~ Would Dispose Of Indian Lands.
- That there is not unanimous appro
al of the present method of disposir
of reservation public lands by lotte1
w was made evident in the senate whe
Nv Senators Gore, of Oklahoma, and Blu
on kett, of Nebraska, made vigorous pr
a test against the adoption of this met
~, cd in the sale of the unallotted Ian
90 in the Rosebud Indian reservation
80 South Dakota.
The question was sprung by N
.s 20 Gore, who offered an amendment p'
w. hitting applications for the land to
~, made by registered mail instead of
49,. quiring personal registration on
nd ground.
Mr.. Burke criticized the present s.
- tenn in unmeasured terms. He told
-, the crowding of the trains and the
+ho sufficient accommodations in the FRI
49, tier towns on the occasion of rect
49, openings, and declared that they h
a1a been marked by much crime a
hi, blood-shed, due to the presence
a+, thugs in the attending crowds.
iah Replying, Senators Gamble {
10 Crawford, of South Dakota, defen(
re- IHe present iiio'iiou 90 t.io oe". oo't
able Mr.. Gamble declared that
IN, Burkett had drawn on his imaginat
ion when he had charged crime in c
,ye nection with recent openings.
,om After a mild filibuster, which {
tinued for about two hours, the
ted was passed.
avs "
ses- NOhWASo CA6'N6' HEoiGN