Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1910-03-04
THE BANKERS FEAR OF POSTAL
SAVINGS BANKS.

SAVINGS BANKS.
The indications are that the pres
ident's postal savings bank act will
become law. That seems to be the
concensus of opinion at Washington |
The presidents insistence on the re-
publican party meeting it's campaign |
pledge in this respect is having its
effect, and many will support the |
measure, it is stated, purely on party |
grounds, although they are personally |
either opposed to it or see no neces-
sity for such a law Both of the |
great political parties are committed |
to the measure, but among the lead |
ers on both sides many of the strong |
est men do not hesitate to express
themselves condemnatory of the prop
osition to have the government engage |
in business as banker of the people. |
Bailey, of Texas, for instance, insists |
that there is no power granted the |
federal government, under any reason |
able construction of any provision of
the constitution, to open up savings
banks, collect and care for the peo-
pies money, and pay them interest
thereon. But, anyway, the bill seems
destined to become a law
Bankers generally are opposed to II
as a further interference with pri-
vate business, as an infringement on a |
business that is already being conduct |
ed successfully and satisfactorily by !
private citizens. President Sligo NY
ers, of the National Bank of Savannah,
who was elected president of the
Bankers Association of the Southeast
ern States last week-an honor we'll |
bestowed-in his address to the bank !
ers gathered at the Tampa meeting, |
took this position. He pointed out |
that despite the fact that all of the |
leading European nations have a !
postal savings bank system in opera
ton, the accumulated deposits of all
such banks in the world do not
touch the savings of e people in the
savings banks of tpH United States.
There is adequate arovision made
nowadays, he insisted, to meet all
reasonable demands for savings insti-
tutiofe conservatively administered
In neWn- every county in g. Sgia
probablyW every one, toe rettre
are banks where the peopleX 9TH e.
post their savings in small 8ssgounts
and secure interest thereora interest
at more liberal r~te thar, q gov
eminent is in 2oSF, n TONER 1t is
true there isSSn occasion failure,
but relative NE vast amPgel of de-
posits the fMss are very ! of The
government slvings bank i Z atwas
seized upon by the republicans off
set the Oklahoma scheme of fAsur-
ance of deposits, which threatened 10
sweep the west, and probably lose
some states there to the democratic
party, which had endorsed the Okla
homa plan. President Myers predicts
| the speedy disappearance of the
Oklahomaplan and looks upon the re-
publican substitute as a political expe-
dent uncalled for by any existing con-
dftions in this country
1t is true that there has been
remarkable development in the bank
ing line in every section in recent
years. Particularly in the South has
the establishment of banks, mainly
state institutions, been a noticeable
feature of the development of the peo-
pie in wealth and progressive ideas.
Still there are sections quite re-
mote from such institutions where the
ability to deposit money with the To-
cal postmaster and be ensured its
safety will be greatly appreciated.
Where the regular savings banks can
be easily reached the temptation to
secure the larger interest they can
legitimately pay will be generally suf-
ficient to keep deposits in such banks.
The fear of the bankers that the com
petition of the government may seri-
ously undermine their business IS
probably without much foundation.
The American people as whole are
too keen for the four to five per !
cent. interest paid by their local
financial institutions to make their de-
posts with the government for two
per cent. A certain foreign element.
distrustful by nature, and afraid to
venture with their hard-earned saw
ings, will doubtless deposit with the
government in the large cities, and in
the remoter country districts the peo-
pie may use the postal savings ia
cilities temporarily, but that is prob
ably the limit
TO ROB WOMAN OF HER FAVORITE
WEAPON.