The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1914-10-30
A BIG INCREASE
IN DEPOSITS Of
SAVING BANKS
EUROPEAN WAR HAS PROVED A
BOON TO UNCLE SANS
BANKING BUSINESS.
INCREASE IN ALL SECTIONS
Business Of Local Sayings Bank Has
~
Grown Rapidly and Deposits Have
Increased Ever Since Day the Bank
Opened.

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 Withdrawals
fell off, a result quite contrary to the
pred ctions of many well-nformed,
persons who, in their imagination.
saw lines of feverish depositors at
postoffice pay windows anxious to
again return their savings to the
bootleg and body-belt depositors
whence they came before intrusted
TO Uncle Sam. But the forecasters
tailed to reckon on the absolute con-
ndence of the American citizen, re-
gardless of the flag that first met his
eyes, in the ability and purpose of
the government to carry out It's OBJ
llgations, not only ar Qng the nations
of the earth, but witS the humblest
citizen OF oH~ Land.
Tw important results~ehave fol-
lowed; 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
Deen released for commercial uses
among our own people at a time
when the need for every available
dollar is pressing.
The growth of postal savings in
the United States has Eeen steady
and healthy and the system has filled
an important gap between the tin
can depository and the factory nay
master On July l, when affairs were
running smoothly here and abroad
and the transmission of money across
the Atlantic was safe and expeditions,
there was approximately $43,O0O,O0O
of postal savings standing to the
credit of about 3S8,000 depositors.
Since then over $l0,00O,000 of de-
posts have been added and the num-
ber of depsiotors has increased enor-
mously. This unprecedented gain is
the more striking when it is consid
cred 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, hut
nave been felt in every nook and cor
ner of the country. New York city
alone made gain in September of
more than a million, while Brooklyn
showed relatively big increase. Chi
cago reported larger gain in the
past three months than for the pre-
Ylous twelve months. More than T.
600 new accounts were opened dur
ing the period, bringing the number
of depositors in that city up to over
Il 900.
The unexpected increase in postal
savings business has not only added
to the general administrative
duties of the system, but has brought
up many new and interesting prob
lens which have called for the care
ful k1nal consideration of Post
master General Burleson and Cover
nor Dockery, third assistant post
MASTER OannP4l ant hni clz ha
been lightened somewhat by >. the
promptness Of depository banks in
additional security to meet
the abnormal deposits. A number of
the very largest banks in the coun-
try, which have heretofore declined
to qualify as repositories for postal
savings frunds, are now among the
eager applicants for them.
In this connection it will be of spe-
c1al interest to state that the in
crease in deposits in the local savings
bank, which was the first establish.
ed in Georgia, has steadily increased
ever since the day it was opened, and
the list of depositors is now long
one.
The only difficulty being expert
eEced at the local bank is the limit
placed on deposits Under the law
the savings banks a
limit of 800 per month was placed
on all depositors. That is no patron
Of the bank can deposit more than
800 in any month Another objec.