Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-01-08
LIKE POSTAL BANKS
People Anxious to Leave Saw
ings With Uncle Sam.
RULES MAY BE CHANGED
Committee Meets Daily to Consider
Reports From Depositaries.
SATISFIED WITH EXPERIMENT
Officials of Department Gratified at
Interest Shown During First
Week of Test.
RULES MAY BE CHANGED
WITH EXPERIMENT

Reports To Postmaster General Hitch
cock from postmasters at the new pos
tai savings bank Offices it is said are
generally satisfactory and show that the
new system is fairly launched. Many
people yet fail to understand the regu-
1ations or wish to have them modified.
Some genuine knockers have shown
up as well. But on the whole the
people are taking kindly to the new
Institutions provided by the government
and backed by the credit of the United
States for the safekeeping of their saw
inss
Bad weather in the northwest and rains
in the south and east have been instru-
mental in keeping away many who are
expected to become depostors. The de-
partment realizes. too. that the fact that
interest will not begin to run on the de-
posits until February 1 has deferred
others who will come in with their saw
ings later in the month. Many inquiries
are being received from all over the coun-
try from people who want to know more
Of the new savings institutions. Many
suggestions. well, are being received,
some of which will be given careful con-
Sidcralion.
Literature for Schools.
Among them was one from a southern
postmaster that the department provide
special literature, easily understood by
children. describing the operations and
rules governing the banks for distri-
button 10 the school children. Many
school teachers have made detailed in
quiries with the object of informing and
inStructing their scholars.
As rule the pOstmaSters selected to
1nauSurate the new postal savings SyS-
tenn are quite enthusiastic. Some Of
them are not SO much 50, but that is
believed to be due to the fact that the
number of early depositors did not quite
come up to their expectations.
1T was explained at the department yes
terday that the authorities have not
looked for any sensational developments
either in the number of depositors Or the
amounts of the deposits. They feel that
the system is as yet only in an expert
mental stage. Many changes, they say.
Will doubtless have to be made before
perfection Is attained. But, in the mean
while. the people will become educated
in the new institutions and their rules
and when the system is we'll launched
there need be no apprehensions as to its
success.
Recently the department has had many
visits and inquiries from men who act as
interpreters to foreign workmen on rail-
roads and elsewhere throughout the
country. Many of these men have come
to Washington to personally investigate
the published statements as to the banks
that they may enlighten the foreigners
who do not understand the English Ian
guage as to the facts concerning Them
1t is believed many deposits will result
from their visits. :.
Brought Savings to Deposit.
walked into the department with his saw
ings to make deposit. Friday an elder
ly woman. with big. fat pocketbook,
containing her savings for twenty-five
years, called at the department. She said
she lost confidence in the banks a quarter
Of century ago after a bank failure in
the southwest, but now that the govern
ment was willing to guarantee the safety
of her money she was willing to deposit
ii in Uncle Sans savings bank She
seemed distressed at not being able to do
SO. About the same time two farmers
called. Each had heavy coin bags, con-
tanning about 5000. which they wanted
70 put IN for safekeeping. They. too. left
disappointed.
The postmaster at Pekin, ILL.,, reported
yesterday that a woman came into his
office with $50 in dimes, repr. senting her
| savings for the year. She was fur
nished a proper certificate for her de-
post and left apparently happy.
At Brunswick, Ca, the postmaster re-
| ports that he has received an unusual
| number OF requests to accept deposits
| for children under ten years of age.
Ten years Is the age limit for depositors.
At Mantowoc. Wis. the postmaster re-
ports that a number of show people,
sailors and commercial travellers offered
deposits on condition that they be per-
| mitted to draw against them at any
other post Office. AS that Is against the
| regulations. they had to be denied.
| Many OF the postmasters where the
new banks are located are receiving de-
posts by mail from people who live be-
| yond the delivery of their offices, but
who are attracted by the government
guarantee behind the postal savings
bank.
Holds Sessions Daily.
The departmental committee which
prepared the plans and regulations for
the new savings banks holds sessions
daily for the consideration OF questions
arising during the experimental stage OF
| the system. The result of it's deLbera-
tions are finally submitted to the board
| Of trustees, which Is composed of the
Postmaster General, the Secretary Of the
Treasury and the Attorney General
1t was explained at the department
yesterday that no information as to the
amount of the deposits in any of the
new banks would be made public for
obvious reasons.
| Taking the reports as a whole, said
| Theodore L. Weed, chief clerk of the
department and secretary OF the boar
OF trustees, they are satisfactory and
/ show that thus far the new system is
moving smoothly.
HOPING FOR TIDINGS