The Lancaster news. [volume] (Lancaster, S.C.) 1905-current, 1914-11-03
POSTAL SAVINGS.
The European War Proving Big
Boon to the System.

The European War Proving n Big
Boon to the System.
The war in Europe Is proving
big boon to postal savings in this
country. From the very day hostili-
ties opened across the seas postal
savings receipts began to increase
by leaps and bounds and withdraw
ais fell off. a result quite contrary
to the predictions Of many well-in-
formed persons who, in their imag-
ination, saw lines OF feverish de-
positors at post Office pay windows
anxious to again return their saw
ings to the bootleg and body-belt
repositories whence they came be-
fore intrusted to Uncle Sam. But
the forecasters failed to reckon on
the absolute confidence of the
American citizen, regardless of the
flag that first met his eyes, in the
ability 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 fol-
lowed: thousands of people, largo
ly OF foreign birth, accustomed to
send their savings abroad, are now
patrons of our postal savings sys-
tenn: and enormous sums of actual
cash have been released for com
mercial uses among our own people
ut 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
filed an important gap between the |
tin-can depository and the factory /
paymaster. On July 1. when af- |
fairs we're running smoothly here |
and abroad and the transmission OF
money across the Atlatic was safe
and expeditions, there was approx
mately $43,OOO,OOO OF postal saw
ings standing to the credit OF about
3 38 900 depositiors. Since then
over $1O,0O0,00O OF deposits have
been added and the number OF de-
positors has increased enormously.
This unprecedented 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 year 1914. Scores
of Offices have done more postal saw
ings 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
been felt in every nook and corner
OF the country. New York City
alone made gain in September of
more than Il million, while Brooklyn
showed IA relatively big increase
Chicago reported larger gain i'm
the past three months than for the
previous twelve months. More than Il
Z 900 new accounts were opened L
during the period. bringing the
number OF depositors I'm that city up
to over $1,000.
The unexpected increase in postal
savings business has not only added
greatly to the general administrative II
duties OF the system, but has broughr
up many new and interesting prob
lens which nave called for the care 4
fui personal consideration of Post
master General Burfeson and Gov
ernor Dockery, third assistant post
master general But their task has
been lightened somewhat by the
promptness OF depository banks in
additional security to
meet the abnormal deposits A num-
ber OF the very largest banks in the
country which have heretofore de- /
clined to qualify as repositories for
postal savings funds, are now among
the eager applicants for them
WAREHOUSE COMMISSIONERS