Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-02-01
POINTED OUT BY
CARTER OF MONTANA
United States Only First-CIaSS
Country Which Has Failed to
Adopt System for Encourage
ment Of Thrift,
fny Morning Journal speelaI I.sa.ed wlrei

hy q postal savings hnnk said senator
Carter 90 Montana. speaking Ia the
senate today on the bill 10 establish
postal savings banks. He spoke Of
promises made IN the last republican
platform. as wall as tn several other
arty platforms. ot the supper; given
q the measure 81 former President
roosevelt and 10y President Taft and
flso By a number OF postmaster gem
rails Of the last forty wears.
Answering numerous objections to
POSTAL savings hanks. Senator Carter
aid that they would not be a men
icn 10 the present banking system of
hr country. that n present system
Il banks. even 1T they were sufficient
IS numerous. could not reach the neo-
BE la the rBrai and spars.ly settled
districts whom tho postal hanks are
designed 20 benefit. The postal de
g~osiiofies, be declared, would en-
ourage thrift. would bring into cir
ulation much money now kept in hid
ng and would impel foreigners, who
low send much Of their savings home
ar deposit in savings banks in their
iWn countries, 10 place IA in the care
II this government.
In referring 10 countries that have
ueh a system. tine speaker said that
ii Is operated Ia countries OF limited
xtent and those of broad territorial
xpansion With eauil facility. success
nd satisfaction
Answering the objection that the
Establishment az postal banks wonid
am u~nwarrauted use OF power by
H. government, he claimed tina the
bill only celebrates e use IL which
he postal service Is now subjected.
or. AS the report 0f the committee
Xi4l show. a large sum az money in
IN the states ani territories is in
estsd in money orders payable 70 the
purchasers and renewed annually az an
Expense or s. per Sl.QeV as "a penalty
"a thrift.
.~rae prime purpose az the meas
ire he declared Is 10
hFit Among The masses ol the people
y furnishing Widely distributed, com
enient ana absolutely safe deposit
cries wherein small sums may be
iaeed aI "a loN rate Nf interest with
Ae faith ana 'redit ef the govern
u ni pledged 81 the repayment OK
%rincipal and interest ON demand
He held That il The commercial and
lther banks were widely distributed,
heN would not ne ratrOniz Il 70 any
ousiaerahle Ntent hy the class of
seopie 70 whom The postal savings de-
s~oSitaFx would Furnish the needful
dement's of souVe niencF ana absolute
anideneW To the charge that such
system might be held unconstitu-
,ionai. ne answered that the miscro-
cope has nut heen made that San
disclose q difference ia principle be-
Ween tbs none order system and
ne system here proposed.
This system, said senator Carter
instead az being a menace 10 the
AanSs W0uti prove "a source OF
strength SUch had hsen tRe results
hcrever postal banks had been tried
The hiN before She senate provided
hat the system be directed as i board
Il trustees io be composed of D
eerttarv Ns the treasury, the postmas-
er general ARID the attorney general
This hesrd j. 90 report 10 congress AZ
he heginnlns ot e0ch regular SOS
ion. EVERY postefiic@ authorized tn
r~astofftce money riders and
ucn others as tbs postmaster general /
aag designate are o. be postal de-
1osit0F.es
Amy person more than ten years of
ge ~ eiiEiAhs to make Il deposit. al
aouEh nn sce0unt 0f LESS than cnt
lollar san or opened and no person
nav DEPOSIT more than SfH9 in one
airndar month. or nore than $500
.ltpg ther a0t countinE accumulated
interests Interest Is a. be & fn. rate
a "Na "a ~ f
When Stast0r Carter cosel sem
ter G1iliuser expressed thv hope that
hi mnllf Ne t~hurnHghly dis
a tfe said that En- i'd the coun-
Mas u~riertaking to enttT upnn au
Xpf ra1sul sud hc hoped that the
might not 0~ crowded
greuEr wuS tsar tvi Fati-1 tax
e abe a,t ssiQrl Senator Hepburn
fo Hln4et a number nt questions
. 49, 49,. .H
'elt t rl that there uas no nr-
ost in ihe Aii 70 define the methods
( Withdrew ING money By ~dep1sturs
q oY the Eas rnwent from Ine banks
'hen nn1F 1arnSitei Csc then He iu-
taarff thaf THE tOlr1 ~ trustees
raRifta far nv sre hNl had been ,
iytn t mach authority Il
Air carmIf asgS,a ~ifh ~. uey {
n 500 oppressed tht Nis thaE q Z
ir As pc provision preventing q
HIfl sraaul &c We swings
ards rnnl the hankS aua their e1n- :
rayou les nre ualD tff
Htald be very f-tr :
Nr Garter -onteniet that ths hff
ld Pei IA slff 1t t meet al
~ trat probably tsa hlard
-ouh 81 TIE restu sens
t~ -ler Efuf p t.e sees
tsr ta trer <urs Ar Carter rv- Z
elluien tsst th 1885,
snra f lrts-riu 81 The 4r
g. uFer TIRE business
he
FL an.el-a - -
t trt
ere deposits 90 any
thrt tamraEl
% o fr1m ar