The Bridgeport evening farmer., 1911-08-04
Where The Money Goes When Put
 In Postal Bank

With great fanfare of trumpets we are informed that Postmaster Hitchcock had designated New York, Boston, Chicago and St. Louis as ad- ditional postal savings Repositories. We are cordially invited to become enthusiastic, and large and corpulent stress is laid upon the fact that now we have a means of capturing the European bound remittances of our foreign population who have hereto fore sent their money home to their government owned postal savings banks for safe keeping, fearing to trust the beneficent mercenaries who serve us in this capacity.
 You notice said government own ed. This was with malice afore- thought, in contra distinction to our New York City bank owned monopoly. What we aimed at in establishing a postal savings bank was the facilita- tion of deposits by small depositors, and the utilization of the millions se- cured at per cent. interest to retire high interest bearing bonds, furnish the wherewitha1 for huge government operations, and, in fine, to conduct the fiscal affairs of the United States as any sane business man would conduct his private business.
 But, (and here's the Ethiopian in the woodpile) the Real Owners of America had law passed making it illegal or unconstitutional for the government to engage in any activity which would curtail the profits of the highway rob- bers whose lairs lie on that narrow lane south of Trinity churchyard.
 Consequently, we now gather up the shekels from all over the country and turn them over to the Plunderbund composed of the New York City Bank, J. P. Morgan, Kuhn, Loeb & Co.,, and other gentle philanthropists who re- luctantly pay one-quarter of 1 per cent. for the use of this money. In other words, they pay 2A per cent. to the government, the government pays per cent. to the depositor, and the Midas stream flows Wall Street-ward in ever increasing volume. Soon, from every city. town and hamlet in the country this aurate river will empty itself into the war chest of the gam blers who increase our cost of living in devious nefarious ways.
 Wouldn't it be nice if some of us common people were furnished a few hundred millions of dollars by lov- ing and paternal government at A per cent. per annurn with which we could buy bonds at 4, and per cent. hy- pothecate the bonds with the govern ment again, drawing interest all the while, mind yOu), use the money to buy more bonds, and so on ad infin- itum
 How long would it take any of us to become wealthy if we "stood in'' to the extent of dictating the lawmak- ing, decision-rendering, wire-pulling farce comedy we are pleased to call government
 I pause for reply.
 Why any people who claim to be really intelligent will tolerate such an abortion of what should be a magnifi- cent system of secure, careful banking and put up with this exploitation is beyond conception.
 And thet specious politicians with their 'insolence of office'-it is to laugh, ha ha!-that way
 Now I understand what Lear meant when he said ''get thee glass eyes, and like a scurvy politician seem to see the things, thou se'st not.'' He was provisioning the Taft administra- tion and the, Hitchcock variety of pos tai savings banks.
 But courage brother-the worst is yet to come.-Dr. Edwin F. Bowers