Connecticut western news., 1914-11-12
POSTAL SAVINGS
How the War Has Doomed Uncle
 Sam's Banks.

Sam's Banks.
 The war ill Europe is proving big boom to postal savings in this country. From the very day hostilities opened across the seas postal-savings receipts began to increase by leaps and bounds and withdrawals fell off, a result quite contrary to the predictions of many well-informed persons who, in their 1 imagination, saw lines of feverish de- positors 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 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 hum- blest 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 con- mercial uses among our 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- pository and the factory paymaster. On July 1, when affairs were running smoothly here and abroad and the transmission of money across the Att lantic was safe and expeditions, there was approximately $43, 1000, 900 of pos tai savings standing to the credit of about 388, 0S8 depositors. Since then over $I0, 900, 900 of deposits have been added and the number of depositors has increased enormously. This unpre- 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 year 1914. Scores of officers aye done more postal savins business since the war has been going on than was done by them dur ing the previous existence of the ser vice. The increase 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 million, while Brooklyn showed a, relatively big increase. Chicago reported larger gain in the past three months than for the previous twelve months. More than 1000 new accounts were opened during the period, bringing the mum. Der of ddepositors in that city up to over at,o00. -"l
 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 sonal consideration of Postmaster Gen. eral Burleson and Governor Cookery, Third Assistant Postmaster General. But their task has been frightened some what by the promptness of depository banks in furnishing additional security to meet the abnormal deposits. A number of the very largest banks in the country, which have heretofore de. clined to qualify as Repositories for postal-savinYs funds, are now among the eager applicants for them.