Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1910-02-02
It Provides for Deposits in Banks
Where Postoffice is Located.
.OwAN EXPLAINS HIS PLAN
Says 1t Will Make Much Red Tape in
Administration.
NO TINE Is SET FOR VOTE
Mr.. Carter suEEests Next Monday, but
WithdrRws when MIR. Gallinger
ObJects-Many Senators
Oppose Measure.

WASHINGTON. Feb. lin a spirited at
tack on the postal savings bank BILL SEN
ator Jeff Davis of Arkansas told the SEN
ate today that It was a measure in the
Interest of the national banks, the high
collared roosters, the money sharks and
money grabbers of Wall street"
Mr. Davis antagonism was aroused by
the refusal of Senator Carter. In charge OF
the bill, to entertain an amendment elm
mating the requirement that the savings
funds be deposited only In banks subject
to state supervision and examination.
An aye and nay vote on his amendment
was demanded by Mr.. Davis 1t was voted
down. 6 to 49,
Measure Read I'm Full.
The measure was read in full and Sen
ator Carter then asked for an agree
ment that when the vote on 1t should
be taken it should be by ayes and noes
The request was met with vigorous oppo-
stion from Senators Bacon and Gallinger
and therefore was Withdrawn. The SEN
ators objecting declared the manner of the
vote should be determined when II was
reached by senators then present.
Senators Bacon and Cummins presented
amendments to the provision regulating
the deposit of postal savings funds and
Mr.. Cummins spoke In explanation of his
| suggestions, which provided especially for
the deposit of money in banks in the
towns and cities in which are located the
post offices In which the deposits were
made.
| He sa-~ that IL his plan should be adopt
| ed the local postmasters would be pre-
pared at all times to meet demands for
the withdraway of funds and would not
be compelled to resort to the clrcumlocu-
] tion OF procuring it from Washington
Philippines Have system.
Responding to an inquiry from Mr.. Gal
lnger, Senator Carter said the Philippine
Islands had not been included in the bill,
because they had their own postal savings
ssytem, while Porto Rico, Alaska and the
Canal Zone, having no such system, had
been embraced within its provisions.
Mr.. Gallinger insisted that in any gem
eral measure of the kind the Philippines
should be included. After extended debate
Mr.. Carter gave notice that tomorrow
he would ask the senate to agree to vote
on the bill next Monday, but afterwards,
on request Of Mr. Gallinger, he consented
not to do So
While not expressing a purpose of op-
posing the bill, Mr. Smith of Michigan ad-
vanced the opinion that the measure should
be considered with great care. He con-
tessed that Insofar as he had been able
to give attention to the subject he had
been led to believe that the measure
"smacks largely of paternalism," and he
feared 1t would interfere with the develop
ment of individuality, which heretofore
had been the great distinguishing feature
of the United States.
Not An Experiment.
Mr. Carter replied that postal savings
banking was not an experiment, as 1t had
been tried thoroughly In Great Britain and
other European countries. The bill did not,
he said, propose to interfere with banking
or to do more than to furnish to the poor
people an opportunity to deposit their small
pittances. They should be encouraged to
save their earnings, he said, but the gov
ernment should guarantee repayment. In
reply Mr.. Smith declared that Mr. Carter's
reasoning sounded much like that which
accompanied the adoption of the Oklahoma
bank guarantee law
Senator owen, interrupting, declared that
since the passage of the Oklahoma law the
state banks deposits had increased from
Sis, 900, 900 to $4,000 900. Mr.. Smith responded
by reference to recent bank failures In Ok
lahoma which had he said, occasioned
criticism of the state officials, who were
supposed TO have supervision of them.
The bill was still under consideration
when the senate adjourned until tomorrow.