Western Carolina Democrat and French Broad hustler. [volume] (Hendersonville, N.C.) 1913-1915, 1914-11-05
PRESS NOTICE.

The war in Europe is proving a big
boon to postal savings in this coun-
try. From the very day hosilities
opened across the seas postal-savings
receipts began to increase by leaps
and bounds and Withdrawals fell of,
a result quite contrary to the predic-
tions of many well-informed persons
who in their Imagination, saw lines Of
feverish depositors at post-office win
dows anxious to again return their
savings to the bootleg and body-belt
repositories whence they came before
intrusted to Uncle Sam. But the fore
casters failed to reckon on the conf
dence of the American citizen, regard
less of the flag that first met his eyes,
in the ability and purpose of the Gov
eminent 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
saving abroad, are now patrons of
our pos~tal-savings system; and enorm-
Gus sums of actual cash have been re-
leased for commercial uses among
Cur own people at a time when
the need 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 de-
rository and the factory paymaster,
On July 1, when affairs were running
smoothly here and abroad and the
transmission of money across the At
lantic was safe and expeditions, there
was approximately $43, 100000 of post
al savings standing to the credit of
about 3S8,000 depositors. Since then
over $40, 900 900 of deposits have been
added and the number Of debositors
has increased enormously. This n
precedented gain is the more striking
when it is considered that the net gain
is the more striking when it is con-
sidered 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-sav-
ings business since the war has been
going on than was done by them dur
ing the previous existence of the SER
NlCC. liz lHS4 SGAoSO L SOAAAAAASu "
no special localities, but have been
felt in every nook and corner Of the
country. New York City alone made
q gain in September OF more than a
millioTA while Brooklyn showed a
relatively big increase. Chicago re-
ported a larger gain in the past three
months than for the previous twelve
months. More than 1000 new &C
counts were opened during the period
bringing the number Of depositors in
that city up to over q 900.
The unexpected increase in postal
savings business has not only added
81 eatly to the general administrative
duties of the system, but has brought
Up many new and interesting problems
which have called for the careful per
sona1 consideration of Postmaster
General Burleson and Governor Dock
cry, Third Assistant Postmaster Gen
trail. But their task has been tighten
ed somewhat by the promptness of
depository banks in furnishing addi-
tiOnal security to meet the abnormal
deposits. A number of the very larg-
est banks in the country, which have
heretofore declined to qualify as de-
posftories for postal-savings funds,
are now among the eager applicants
for them.