Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1914-11-11
Postal Savings DepOsitOries

The war in Europe is proving a
big boon to postal savings in this
country. From the very day hostii-
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
predictions Of many we'll Informed
persons who, in their imagination,
saw lines of feverish repositories 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 con-
fidence of the American citizen, re-
CARELESS 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 ma
tions of the earth. but with the
humblest citizen of our land.
Two important results have follow
ed; 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 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 filled
an important gap between the tin-can
depository and the factory paymaster.
On July /, when affairs were running
smoothly here and abroad and the
transmission of money across the
Atlantic was safe and expeditions,
there was approximately $43, 900, :
900 of postal savings standing to the
credit of about 388, 900 depositors.
Since then over $40, 900, 900 of de-
posits have been added and the
number of depositors has increased
enormously. This unprecedented gain
is the more striking when it is con-
sidered 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-saving business since the war
has been going on than was done by
them during the previous existence of
the service. The increases are con-
fined 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 a million, while Brook
Ign showed 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 num-
Der 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
many new and interesting problems
which have called for the careful
personal consideration of Postmaster
General Burleson and Governor
Dockery, Third Assistant Postmaster
General. But their task has been
lightened somewhat by the prompt
ness of depository banks in furnish
ing 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
savings funds, are now among the
eager applicants for them.