American Falls press. [volume] (American Falls, Idaho) 1907-1937, 1911-10-12
POSTAL SAVINGS
OPENS SATURDAY
Faith q Government Pledeed
10 Depositors.


@0so - oosSSs
A postal savings bank viii open
at the American Falls postoffice for
business at 3 O'Clock Saturday morn
ing. From that hour until O'Clock
the new bank will be prepared to
take all the money that comes. A
rev instructions to intending depos-
itorss Is all that will be necessary:
Don't bring more than 800. No
deposition is permitted to deposit
larger sum than 500 in any calen-
dar month.
Don't bring less than 81 for no
deposit less than dollar is received.
Bring only even dollars. Deposits
are taken only in even money. The
certirlcates prepared for depositors
are in dollars, the same as currency,
and no form is provided less than
the 81 certificate.
For the benefit of children who
may wish to start an account. but
who have not saved up a dollar, saw
lngs cards and stamps are provided.
The cards. which have a 10 cent
stamp printed on their face, are for
sale at 10 cents each. The card has
spaces for attaching nine stamps
of a 10 cent value. When a card is
fiiled 1t may be presented at the
postoffice and surrendered for a 81
cert1ficate. and an account opened.
only 10 cent stamps are for sale for
postal savings purposes. and children
can purchase any number up to nine
to fill their card.
Any child 10 years of age or more
Is qualified to open an account and
TO have full charge of his savings
deposited with the government. The
same secrecy regarding deposits is
maintained as in any regular bank
ing institution. Postoffice employees
are not permitted to give any
Information regarding who are de-
posltors nor the amount on deposit.
The maximum allowed any depos-
itor is $500. When this snm is
reached the depositor may purchase
postal savings bonds with his depos-
Its and Immediately proceed to ac-
cumulate another $500. In fact, he
need not wait so long. for the bonds
are In denominations of $40. and by
surrendering $50 of certificates a
depositor may purchase a bond at
any time. The bonds draw 2H per
only 2 per cent
What are the benefits of postal
savings banks?They encourage thrift
ana give absolute safety. The faith
OF the government is pledged to the
payment OF every dollar deposited,
at any time when the depositor may
want to withdraw it. They will abol-
lsh local nanics and bank runs, and
in HI
ton, and panics will be thing Of
the past. No depositor will be anx-
lous about his money when he can
go to a bank and get draft on the
unlted states treasury at any time.
When deposit is made the depos
ltor receives a certificate, in appear
ance something like currency, but
the resemblance is not close enough
SO they will be taken for currency.
They are issued In the same denomi-
nations as currency. The depositor
writes his name on the back of the
certificate which he carries away
with him. and also upon a duplicate
which is retained on file in the post
office. A record is kept of every GER
ffficate issued. giving the date of is
sue and to whom issued, hence II
certificate Is lost the finder can
not cash it. Certificates are not tran
[erable. and can be cashed by no one
but the party to whom they are is
sued except upon the signing of a re
luest upon form which may be OBJ
aimed at postal savings banks. In
his way money may be withdrawn b
1eposltors who for any reason are
inable to call at the office.
Full information may be had by
to the postoffice. A supply
If circulars has been received which
Interested parties may obtain upon
'eQuest. While the amount Of money
eceived on deposit will probably be
'ery small TO start with, especially
n the smaller towns, the system is
ertain to grow in popularity and in
he end will become a factor in the
maintenance of stable financial con-
litions throughout the country.