The Washington times., 1911-11-08
BUSINESS MEN OF
GEORGET WILL
ACCEPT DEPOSITS
Drs. William and Charles
Scherer Receiving Postal
Bank Savings.

Georgetown has a sub-depository of
the postal savings bank, the first of its
kind established In the United States.
All persons in Georgetown, particularly
the children, who wish to save a dime
at time, can take their money to the
drug stores of DR.. William Scherer,
Thirty-fifth and o streets, and DIR.
Charles Scherer, Wisconsin avenue and
N streets.
At these places postal savings cards
and stamps may be purchased for 10
cents. Each card and stamp represents
10 cents deposited in the postal savings
bank at the city postoffice, and each
card and stamp is always redeemable
at the bank at its full face value.
DR.. William Scherer made his place
sub depository upon his own initia-
tive. He believed that only in this way
could the postal savings bank reach its
full scope of usefulness. He reasoned
that, the, women and children, Of his
deposits, could not go to the city post
office to do SO. Consequently he liter
ally brought the bank, or at least this
one feature of it, to Georgetown for
their benefit.
Enthusiastic Over It.
Acting Postmaster Robinson is enthusi-
astic about this extension of the postal
savings service. He expressed the
hope today that many other business
men would follow the lead of DR..
Scherer, and make cards and stamps
available to the people who had the
greatest need for them.
Postmaster General Hitchcock ana the
board of trustees of the postal savings
banks throughout the country also are
81 aott hD,, ha Nlo nf
the necessity for extension of the serv-
Ice in the big cities, 1t is possible the
Postoffice Department will In the near
future extend the savings system to all
branch offices. At present 1t Is neces-
sary for every depositor to go to the
postoffice to make deposits.
DR.. scherer is doing a. rushing busi-
ness, with his ''sub-depositor,y." and his
Of business Of the Washington bank.
He is having a sign prepared, which
will let the public know deposits can
senr be made 10 the the s sr pn resS
"Bank with Uncle. Sam. You can get
postal savings cards and stamps here"
Dr. Scherer hopes to be able to handle
car fare for depositors. The scheme ia
simple, Each savings card represents
10 cents deposited in the savings bank.
Each Each stamp likewise, represents 19
has squares blocked off. for the stick
ing of nine stamps. making the card
represent dollar on deposit. Any one
filling card can take this &c the postal
bank and formally open an account
with It, getting a certificate for dollar
deposit After the account Is open fu-
ture full cards NAV be mailed to the
bank, saving q trip downtown to make
- Depositors Protected. s'.ss'a.'
All deposltors are absolutely secured
by the United States Government.
Though they get cards or stamps from
DR.. Scherer. each represents 10 cents
on deposit in the bank, as 1t was neces-
sarv for DR.. Scherer to deposit the
, money before he goc cards and stamps
Cards and stamps are redeemable
singly, or in any number, and are
alw ays good for their face value. just
as is anv postage stamp.
DR.. William Scherer and DR.. Charles
Scherer started off with a stock Of l0(
each, of cards and stamps. and this
stock is being rapidly exhausted. The
idea seems to have made hit with the
people of Georgetown, who have had
the postal bank brought across the
creek for them.
Postal officials believe the operation
Of the sub-despositories in Georgetown
will lead to a general extension of tn,
aavinUS