The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-02-05
POSTAL SAVINGS
STILL UNDER FIRE
Hepburn of Idaho Particularly
Severe in His Criticisms
of Measure.
SAYS BILL AS DRAWN
WILL SHIELD DISHONESTY
Senator Carter Expects Vote on
Issue Not Later Than Next
Thursday.

= WASHINGTON. Feb. 4-Scnator
Hepburn today completed his criticisms
of the postal savings bank bill in the
progress was made in consideration of
the measure.
IL will be before The senate again
tomorrow. and Senator Carter. in charge
of the measure. expects a vote not later
than next Thursday.
Mr.. Hepburn declared The bill had
| been drawn so loosely that, if enacted
it must inevitably result in scandal II
should, he said be safcguarded more
carefully than some past legislation. and
he instanccd the corporation tax law,
which. he said, already had been proved
unsatisfactory
Specific Objections.
Declaring his objections 10 the bill,
be said there was no provision for Sc
curing deposits, that, in providing for
secrecy regarding deposits, the bill
that. in tho end. it would he found TO
be impossible to find investment for the
postal savings fund.
He contcnded that it was the duty
of the committee on postpfbces TO bring
in a safe and proper bill, and said he
would not support the measure as long
as it placed the government in the
banking business, as he contended the
pending measure did. He declared
the hill to b. Il mere skeleton, and he
advised the committee to take it back
and put some 'sineWs and flesh upon
it. -
Mr.. Hepburn spoke at length regard
ing the possible abuses that might grow
out of the secret methods provided In
connection with deposits.
Carter Enters Protest.
Mr.. Carter protested against this line
CT reasoning, saying that no legislation
proceeded upon the theory that the aver
age man was crook
'Wuuld the senator have the names
of all deposltors publicly announccd2''
he asked.
81 want au open and candid CON
duct of the business, Mr. Hepburn re-
"Would YOU advise the posting of
the names of dcpositors?'i asked MI.
Carter,
The Idaho senator responded that he
had not reached that point, and Mr..
Carter said:
'Elou soon Will reach it if you keep
on -
Pointed Conversation.
Another interesting colloquy between
the western senators ran as follows:
Mr.. Heyburn-Out of what fund
would the interest be paid?
Mr.. Carter-The bill contemplates
the turning over of all surplus earn
ings for that purpose.
Mr.. Hcyburn-Suppose there are
none'
Nh Carter-Then ii viii devolve up,
on the board of trustees to devise
| means.
Mr.. Heyburu--The bill devolves too
many things upon the uncertainties Of
the future.
In conclusion Mr., Hepburn pro
nounced the bill TO be uttorly vicious
and predicted that, in tho eud, it would
| be necessary to pay the depositors by
appropriation out of The national treas
ury.
| Discouraging Prediction.
In the discussion Mr., Smith Of Michi-
| gan made the predictions that if the
bill became law, the postal banks
would become footballs OF politics and
that the rate of interest would prove a
| fruitful bait for promises by the un-
scrupuiSus office seeker,
Mr.. Carter made no formal reply to
the criticisms, merely asking 10 have
the bin printed in the Congressional
Record as the best possible refutaton
| of tbc rcpreseDtaflODS of IFS opponcnts.