The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1914-11-03
POSTAL SAVING PROFITS
BY EUROPEAN WAR.

The war in Europe is proving a big
boon to postal savings in this coun-
try. From the very day hostilities
| opened across the seas pOstal-savings
receipts began to increase by leaps
and bounds and Withdrawals fell off,
| result quite contrary to the predic-
tons of many well-informed persons
who, in their imagination, saw lines
of feverish depositors at post-office
| pay windows anxious to again return
their savings to the bootleg and body
belt repositories whence they came
before intrusted to Uncle Sam. But
| the forecasters failed to reckon on the
absolute confidence of the American
| citizen, regardless of the bag that
| first met his eyes, in the ability and
purpose of the Government to carry
out it's obligations, not only among
| the nations of the earth, but with the
humblest citizen of our land.
| Two important results have follow
ed; thousands of people, largely of
| foreign birth, accustomed to send their
savings abroad, are now patrons of
our pOstal-savings system; and enOrm-
Gus sums of actual cash have been
released for commercial uses among
our own people at a time when the
naed for every available dollar is
pressing.
| The growth of pOstal-savings in the
| United States has been steady and
healthy and the system has filled an
! important gap between the tin-can
depository and the factory paymaster.
| On July 1, when affairs were running
smoothly here and abroad and the
transmission OF money .atross the
Atlantic was safe and tf(peditious,
| there was approximately $43,000,OOO OF
postal savings standing to the credit
of about 3SS,000 depositors. Since
then over $10,000,000 Of deposits have
been added and the number OF deposl-
tors has increased enormously. This
unprecedented gain is the more strlk-
ing when it is considered that the net
gain in the last three months is larger
than the gain for the entire fiscal year
1914. Scores of Offices have done
more postal-savings business since
the war has been going on than was
done by them during the previous
existence of the service. The increases
are confined to no special localities,
: but have felt in every nook and corner
of the country New York City alone
J made a gain in September of more
than a million, while Brooklyn show
ed a relatively big increase. Chicago
reported a larger gain in the past
three months than on the previous
twelve months. More than 1000 new
accounts were opened during the
period, bringing the number OF depos
itors in that city up to over $1,000.
The unexpected increase in postal
savings business has not only added
greatly to the general administrative
duties of the system, but has brought
up many new and interesting problems
which have called for the careful per
D sonal consideration of Postmaster Gen
eral Burleson and Governor DOckery
! Third Assistant Postmaster General
D uBt their task has been lightene(
I somewhat by the promptness OF de
! .pository banks In furnishing add
! tional security to meet the abnorma
deposits. A number of the very larg
D est banks in the country, which have
heretofore declined to qualify as de
I positories for postal-savings funds
} are now among the eager applicant
I for them.