The Paonia progressive and the Paonia newspaper., 1911-08-03
ONE CENT LETTER
Postmaster General Hitchcock
Will Renew Effort to Secure
I-cent Letter Postage Rate

Washington, ID. Encouraged by
the marked success that has to date
attended the operation of the Postal
Savings Banks. Postmaster General
| Hitchcock will renew in the early
autumn his effort to secure the sane
tion of Congress for one cent rate
on first class postage.
With the Post Office now on a self
sustaining basis, thanks 10 the bust
ness like management of the Post
master General and the economies
he has Instituted In the service in the
two years Of his administration the
statisticians of the department, esti-
mate that the additional revenue re-
quired to permit the proposed cut in
letter postage can be- secured by a
re adjustment of fthe carrying charges
Of S4O. 900 900 year paid To the rail-
roads for the transportation of the
mails and by a slight increase of the
second class rate as applied to the
advertising sections OF the big ma
tional magazines,
Opposition to these increases are
expected from the powerful financial
interests OF the country which con-
troll the railroads and some of the
more widely circulated of the maya
zines but the Postmaster General Is
confident that the widespread public
sentiment In favor oi the one cent let
ter postage will in the end prevail.
Some Of the magaziD-s that Will be
ait hardest by the contemplated In
crease Will be those which run so
called Financial departments" An
examination OF these departments in
the magazines running them. shows
"A striking uuanimity in regularly
commenting securities regarded as
the favorite playthings of Wall Street
speculators and as regularly con-
demning American Industrial stocks
not offered for exploitation in New
York's financial mart.
by those making the examination.
this systematic boosting of specula-
tive stocks Is held to be indicative of
a concerted plan TO encourage Wall
Street gambling AT the expense OF
the rest of the nation and enrich
those who profit by market rigging
aud the shearing Of the lambs who
are lured into their pasture. Ia one
issue recently one OF the offenders
along this line. condemned no less
than fourteen stocks that have never
figured in Wall Street skyrocketing.
and advised it, correspondents to
communicate with Wall Street
houses "where thev could secure In
vesemeut dealt IA regularly ON the
exchange" Another financial de-
partment" acting as an accellerator
OF Wall street interests undertook to
steer ten of its correspondents into
the shearing shed Of New York's fl
nancial market. Most of those an
swers to inquiries are believed to be
written In Wall Street offices, affili-
atesi with "the interests"
Postmaster General Hitchcock,
feels that these magazines. which
make large profits out of their finan-
cial and other advertising can afford
to pay the relatively small addition
al rate to he fixed on this section OF
their publications and he ia disposed
to discount In advance anyAobjec-
ton they may lnterpose to the pro-
posed increase. With a one cent letter
rate he believes great stimulus will
be given to the use of the mails and
that the benefits accruing therefrom
will prove OF inestimable advantage
to the public as n whole as well as
the government. Hence his deter
mination to press the subject to an
early issue, co-incident to his pro-
gramme for the extension of the pos
tai saving service and the Institution
OF parcels post for the country. in
all three of which Innovations, he
has the hearty backing and support
OF President Taft and his cabinet.