The Barre daily times. (Barre, Vt.) 1897-1959, 1913-02-03
Postmaster General Hitch
< cock So. Recommends
in His Report
CIVIL PENSIONS FOR
POSTAL EMPLOYEES
An Increase in Rates on Sec.
ond-Class Mail and One
Cent Letter Postage

Washington, Feb. POSTMASTER Gen
eral Htchcock's annual report, mad
public to-day, tentatively suggests re
duction of some parcel post rates ant
increasing the limit of weight beyon'
eleven pounds; recommends civil pen
sions for postal employees; an increas
in rates on second class mail which ma,
pave the way for one cent letter post
age; the consolidation of the third ant
fourth classes so books and papers may
be forwarded by parcel post; and points
out that during his administration ex
pense of operating the postal service
has been cut down s45,000000.
In course OF a statement on the con
dtion of postal finances, Mr.. Hitchcock
says. in his report:
''in 1911. for the first time since 1883
postal receipts exceeded postal expendi,
lures, leaving a surplus instead of II
deficit. A heavy loss of revenue in 1912
due to the extraordinary amount OF
franked matter mailed in the political
campaign, created a temporary deficit,
but since the close OF the fiscal year
the income of the department again has
outstripped expenses.
'The year preceding the present adj
ministration was marked by the larg-
est postal deficit on record, amounting
to Sl7,500000. During the next two
years the deficit was greatly reduced
and later eliminated When compared
with the financial showing of four years
ago the reports of income and expense
for subsequent years indicate an aggre-
gate saving of about S45,000,000.
"The transformation of deficit into
a surplus has been accomplished not by
curtailing the service, but by develop
ing it along profitable lines While
postal facilities have been greatly en-
larged, extensions have not been made
in haphazard manner, but only when
shown on investigation to be justified by
conditions"
The establishing of postal savings
banks at presidential postotfices was
completed early in the fiscal year, emo
ed June 30, l9l2-the year covered by
the report. Since then the system has
been extended to 4004 fourth class post
Offices, as well as to 645 branch offices
and stations in the larger cities. There
are now 1882 postal savings banks at
which patrons may open accounts. The
number Of depositors is Approximately
100000 and the deposits aggregate about
f2s.ooo,ooo. not including sl,3l4,l40 with
drawn and invested in postal savings
bonds.
0n the basis Of the present monthly
net increase Of deposits it is estimated
that the gross income Of the postal saw
ings system for the fiscal year ending
June 30, 1912, will amount to 100000
and the interest payable to depositors
to 100000 The income OF the SYSTEM
for the fiscal year will meet the in
terest payments and the total expenses
of the central office, but will be approx |
mately S275,000 less than enough to COW
er the entire expense of the service.
However, the postmaster generals re-
port says lit is expected that when the
deposits have increased to S50,000000, |
which at the present rate they will do
soon, the system win be self-sustan-
ing"
The report contains no references to