The Leavenworth echo. [volume] (Leavenworth, Wash.) 1904-current, 1914-11-13
POSTAL SAVINGS BANK
DEPOSITS ARE INCREASING
thousands Of Foreigners Trust Their
Money to Unde Sam. Government
has Nearly 100000 DepositOrS


The war in Europe is proving big
boon 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, result quite
contrary TO the predictions OF many
well.informed persons who, in their
imagination, saw lines of teverish de-
positors at post-office pay windows
anxious to again return their savings
TO the boot leg and body belt deposit
cries whence they came before in
trusted to Uncle Sam. But the fore
casters failed TO reckon on the abso-
lutte confidence Of the American citi-
zen, regardless of the flag that first
met his eyes, in the ability and pur-
pose 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, 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 re-
leased for commercial uses among our
own people at 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 de
pository and the factory paymaster.
On July l, when affairs were running
smoothly here and abroad and the
transmission of money across the At
lantic was safe and expeditions, there
was approximately s45,000,000 of
postal savings standing to the credit
Of about 3SS,0oo depositors. Since
then over SI0,000,000 of deposits
have been added and the number OF
deposi,ors 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-savings business
since the war has been going on than
was done by them during the previous
existence OF the service. The in
creases are confined to no special To-
calities, but have been felt in every
nook and corner Of the country. New
York City alone made gain in Sep
TENDER Of more than a million, while
Brooklyn showed a relatively big in
crease. Chicago reported a larger
gain in the pas, three months than for
the previous twelve months. More
than 1000 new accounts were opened
during the period. bringing the num-
Der Of deposi,ors in that city up to
over u. 900.
The unexpected increase in postal
savings business has not only added
greatly to the general administrative
duties Of the system. but has brough,
up many new and interesting problems
which have called for the careful per
sonal consideration Of Postmaster Gen
eral Burleson and Governor DockeTy,
Third Assistant Postmaster General.
But their task has been ightened some
wha, By the prompiness 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
declined to qualify as repositories for
I postal-Savilgs funds. are now among
the eager applicants for them.