The Richmond Virginian. (Richmond, Va.) 1910-1920, 1910-09-29


Revenue Commissioner Cabeii ane
ether officials OF the department
whose presence and advice have beer
er greatest value TO this association
And In equal degree we are CRATE
/ full to the people OF Richmond FOL
their hospitality. To the Governor
of Virginia, the Mayor OF the capital
city, the clubs which have opened
their doors 20 us and TO all who have
made our stay most pleasant we ex-
tend our appreciative thanks. In Ed
gar Allan. Jr., our associate. we nave
found royal host. and the splendid
success So which has crowned his ell
forts and those of the ladies by whom
he has been assisted has been made
the more complete by the cordial CO.
operation of his suhordinates, The
memory OF our visit to the Ola Do
Z ,riInion will ever remain fresh and
fragrant, for while the fame OF
Southern hospitality has gone before
/ 4, we have now experienced the real
ny ard know 1t for to exceed the rep
utanen."
THE first speaker at Thursday
4 meeting was Mr.. Howard Bacon, chiei
{ of the classification division of the
Office OF the, third assistant postmaster
I general He discussed many matters
; Of a purely technical nature in connee-
/ ton with his office.
! He Could Not Come.
, The announcement that Postmaster
! General Frank II. Hitchcock would De
unable to come to Richmond was re-
+ ceIved with regret by the members OF
! the association. The following tele-
! gram was received from the postmas =
! ter general by President Morgan
/ Thursday morning.
THE president has requested the
cabinet To meet again to- MORO"
morning and has asked me TO be pres
ent at the meeting 10 discuss the plans
We have formulated for the organiza
ton OF the postal savings system
This makes 1t Impossible for me &c
run down to Richmond. as ] had hoped
TO do Please express to the mem
bers OF the association my regret al
being unable to greet them in person
before the close OF the convention.
(Signed) .,,,.
Postal Savings Banks.
MIR. T. j. Atkins. postmaster OF 81
Louis. Mo. took mp the question o.
What Regulations Should BE Pre-
scribed for the Government of Posta
Savings Ie.nks2" The speaker declar
ed this topic to be one of the lives
issues of the age. He pointed out tina
so great ia the Importance of this mat
ter that 1t has been made one or tn
planks In the platforms of both of tn
national political parties. For thirt.
| years, he said, Congress has been urge
: to enact legislation in this direction.
MIR. Atkins recited the various provls
ions OF the postal savings law. III
then undertook to show why this
. one OF the most beneficial bills eve
passed by Congress. TT has neVe
been the people who own their home
who have caused the downfall or ma
tions, but the rowing spirit, he STATED
, .rhe Post Office Department is nov
selling over 800, goo. 600 in money or
-. ders every year. More than 50 pc
cent. of this goes abroad.
Nothing SO safely encourages econ
omy and thrift as money In the keep
ing of the United States government
Many foreigners doubt the integrlt
of our national anking institutions, BIT
have implicit faith in the government
at IL the purpose OF this bill
draw from the pockets of people tn
| millions which have been taken fror
| circulation.
Postal savings banks is not the Wis
I ion of some political dreamer. The
have become acknowledged parts
n
you seldom hear OF panics and finan
cial crashes.
3 when the proposition was first ag1
I tated IN England 1t was strongly on
s posed by the banking interests. and III
r same Is true In every country wher
i they have been established But bank
e have never been injured by postal say
Il ings banks.
= ANY system which encourages sa,
y ing cannot be overestimated. With
| five years after the Inauguration {
postal savings banks there VIII De 10
100000 depositors.
] 1.-THE bin so provides that IS pr
e cent OF the deposits of postal saving
y banks may be deposited In local bank
Thus money which has been kept frol
n circulation reaches the banks which
= otherwise never would. 1t win thu
1 be seen that banks will be helped an
: not injured by this departure"
L Postmaster Atkins here declared thu
$ the year 1910 win In twenty-five yeal
be looked upon as the beginning of
v new era because of the establishmei
= of postal savings banks.
Mr.. Herman II. North, postmaster I
Q Bradford, Pa, was the next speake
: and spoke along the same lines az M
q Atkins.
= One of the most impressive feature
q of the closing exercises was the .reliI
o gushing of the presidential chair
President Morgan to Mr.. Fred.
Whithoft, of Dayton, o. who was cleo
= ed head OF the association Wednesda
: The association then adjourned sin
= die TO meet next year in Omaha, Ne
"a