Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-10-02

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him absolutely against loss He cannot lose and he
always get interest on his money.
The administration believes that with such induce
mens offered and with not the slightest chance of the
moneys being lost the poor will that it is to his
interest to his dollars and to be paid by the Govern
ment for their use.
In the bill creating the system there is the provision
that one depositor shall deposit than one hun
dred dollar in any calendar month"; and that no
shall draw interest than five hundred dollars in
year. This limitation made because of the fact that
postal banks necessarily appeal only to the poor and
because, after man has saved much five hundred
dollars he is generally likely to find for it in other in
vestments Moreover is not desired to have postal
banks interfere with the general banking business of the
country is argued that the prosperity of business
men of the United States is helped immensely by pre-
venting the sending out of the country the hundred
and ten million dollars year and by encouraging thrift
among citizens but it is not part of the plan to
monopoze the banking business as to hurt the bankers
This system aims to reach only those who do not, for
various reasons, patronlze banks
Best System in the World
EXPERTS on the subject say that Postmaster General
- Hitchcock has worked out plan that is superior
any other postal savings bank scheme earth In the
first place. he has done away with the passbook which is
part of the postal bank systems of all other countries
In place of the passbook he has substituted the
tfcae of deposit which is to be made in duplicate,
copy for the depositor and for the official records
Within the next few months he hopes to find cash
register that will turn these certificates in duplicate
The passbook is bad feature. 1t is bulky and would
cost the Government large of money year;
for all passbooks would have to be that often to
central office that interest might be computed
and accounts kept For this transportation the
Government would have to pay not to mention the
pense of manufacturing the books and giving them
away With the certificate system, the certificates
handled much more easily and cheaply But the chief
advantage of the certificate of deposit is that it does
away with the possibility of embezzlement or theft or
the Justification of by eers and clerks who
handle the money
In the beginning certificates will be made out by
hand for ranging from to nine dollars, and
there will be others, already prepared in duplicate, for
ten twenty, and fifty dollars. In this way the only
ling the certificates ranging from nine dollars,
and the authorities have figured that would risk
the penitentiary for such petty
But with the cash register all possibility of any kind
of Justification will be done away with. Mr.. Hitchcock
wants machine that, when the figures touched and
the lever turned, will out two deposit Slips for
the depostor and for the records When this done
mechanically there is opportunity for Justification of
figures, and both the public and the Government are
ding the money and with the unqualified guaranty of
deposits by the Government, the poor man has no
risk He merely sits back and counts his money
And this is not difficult for each of the certificates
of deposit there printed the of interest he will
get from any he may deposit. He does not
have to compute the amount 1t is already set down for
him by the Government.
Special provision has been made for appeal to chill
dren to save their money Mr.. Hitchcock himself Sc
lected the design for the stamp which will be
given to each child who wishes to lay up money dime