The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-10-30
LARGE INCREASE
In POSTAL SAVINGS
European War Produces Results Quite
Contrary to Predictions-New
Accounts at Local Office.

The war in Europe is proving a big
boon to postal savings in this country.
From the very day .hostilities opened
across the seas postal savings receipts
began 70 increase by leaps and bounds
and Withdrawals fell off, a result quite
contrary to the predictions of many
well-informed persons who, in their
imagination, saw lines of feverish de-
positOrs at postoffice pay windows
| anxious to again return their savings
to the boot-leg and body-belt deposi-
tories whence they came before in
| trusted to Uncle Sam But the fore
| casters failed to reckon on the absolute
confidence of the American citizen, re-
CARELESS of the flag that first met his
eyes, in the ability and purpose of the
government to carry out its obligations
not only among the nations of the
earth, but with the humblest citizen of
our land.
Two important results have followed:
Thousands of people, largely of foreign
birth, accustomed to send their savings
abroad, are now patrons of our postal
savings system; and enormous sums of
actual cash have been released for com
mercial uses among our own people at
a time when the need for every availa-
bic 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 de-
Ipository and the factory paymaster. On
July /, when affairs were running
smoothly here and abroad and the
transmission of money across the At
lantic was safe and expeditions, there
+,Ir -
al savings standing to the credit of
about 3SS.0o0 depositors. Since then
over $l0,000,00o of deposits have been
added and the number of depositors has
increased enormously. This UMPIRE
cedented gain is the more striking
when it is considered that the net gain
in the last three months is larger than
the gain for the entire fiscal yeal
: 1914. Scores of Offices have done more
: postal-savings business since the wal
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 beer
, felt in every nook and corner of tn,
! country. New York city alone made
! gain in September of more than n mil
T lion, while Brooklyn showed rela
lively big increase. Chicago reporte,
larger gam IN the past three month";
than for the previous y months. Nor
than 1000 new accounts were opene,
: during the period, bringing the humble
of depositors in that city up to owe
III 900.
). The unexpected increase in postal
?. savings business has not only adde
f greatly to the general administrative
: duties of the system, but has brough
: up many new and interesting problem
Z which have called for the careful pel
: sonal consideration of Postmaster Ger
J. eral Burleson and Governor Docker'
J. third assistant postmaster general. Blu
their task has been hghtened somewha
: by the promptness of depository bank
: in furnishing additional security I
= meet the abnormal deposits A numbe
: of the very largest banks lin the eom
$, try, which have heretofore declined t
Il. qualify as repositories for postal-sa'
It. ings funds, are now among the Gag,
If applicants for them.
- At the Brattleboro office there hay
( been an increased number of deposito
y since the European war began, a nur
~ Der of new accounts having been ope
- ed shortly after the first outbreak
In hostilitiGS.