Gunnison news-champion., 1914-11-06
m nuklHs P6Tn
alI DEPOSITS
Cuan.soa O6aee Notes Increase oi
fay Per Cent m Recent
Months.

The war IN Europe may be apsetting
the plans Of the big tinancIers. but !; is
certainly helping Uncle Sans business
rs a caretaker Of the savings Of the
small financier.
From the very day hostilisies opened
across tine seas postal savings receipts
began 90 increase By leaps and bounds
and Withdrawals fell of. a result quite
contrary to the predictions Of many
well-informed persons who. IN their i'm
agInatIon. saw lines of feSerish deposit
ors at post Office pay windows anxious
to agsia retarn their savings TO the
bootleg and body belt Repositories
whence they came before intrusted to
Uncle sam. But the forecasters failed
10 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
humblest citizen Of our land
Two important results have followed;
thousands of people, largely Of foreign
birth, accustomed to sending their say
ings abroad. are now patrons of our
postal-savings system. and enormous
sums of actual cash have been released
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 hes flied an inn
portant gap between the tin-csn deposi-
tory and the factory paymaster. On
July /, when affairs were running
smoothly here and abroad and the trans
mission of money across the Atlantic
was safe and expeditions, there was ap-
proximstely $4a,OOO,000 of postal saw
iaSs standing to the credit of about
fs'--@~srs Since then over
bf deposits have Aeen added
Humber of depositors has in
enormously. This unprece-
gain 3 the more striking when
.onsidered that the net gain in the
three months is .arger 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, but have been felt in every
nook and corner of the country. New
York City alone made gain in Septem-
Der of more than million, while Brook
lyn showed relatively big increase
Chic@go 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 number of depositors in
that city up to over q 900.
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 Dockery,
third assistant postmaster general.
But their task has been hghtened 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 declined
to qualify as repositories for postal saw
ings funds, are now among the eager
applicants for them
Postmaster b. r. Martin of Gunnisun
informs the News-ChampiOn that the
deposits on hfty-siX accounts at this
postofiice have shown an increase of
$1,000 in six months, or about fifty per
cent IL is true of course that that is
part of the movement to hoard cash in
anticipation of financial storm. This
has had a tendency to restrict the cash
available for moving crops and has
otherwise contributed to stringent
money market in the United States.
As soon as the new currency system is
set in motion on November 18th. things
will loosen up. There is no occasion for
boarding in this country. We can only
rise 10 the unequalled trade opportunity
of the world at this time and make
money by opening every avenue of bust
ness and the first step is to make new
investments instead of restricting them