The Lynden tribune. [volume] (Lynden, Wash.) 1908-current, 1914-11-05
WAR In EUROPE HELPS
POSTAL SAVINGS GROW

The war in Europe is proving a
big boon to the postal savings in
this country. From the very day
hostilities opened across the seas
postal-savings receipts began to in
crease by leaps and bounds and with
drawals fell off, result quite con-
trary to the predictions of many
well informed persons who, in their
imagination, saw lines of feverish
depositors at post office pay wind
ows anxious to again return their
savings to the bootleg and the body
belt repositories whence they came
before being 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 Govern
ment to carry out its obligations,
net only among the nations of the
cart but with the humblest citizens
of our land.
Two important results have fol-
lowed; thousands of people, largely
of foreign birth, accustomed to send
their savings abroad. are now pa
trous of our postal savings system; ;
and enormous sums of actual cash
have been released for commercial
uses auong our own people at a
time when the need for every avail
able dollar is pressing.
The growth of the postal savings
IN the United States has been stea-
dy and healthy and the system has
filled gap between the tin-can
depository and the factory pay
master. On July /, when affairs
We're running smoothly here and a
broad and the transmission of
money across the Atlantic was
safe and expeditions. there was app
roximately $43,000,00O of postal say
ings standing to the credit of about
3SS,000 deQositors. Since that time
over $10,000,000 of deposits have
been added and the number of de-
pesitors has increased enormously.
This unprecedented gain is the more
striking when it is considered that
the net gain in the last three mon
tbs is larger than the gain for the
entire fiscal year 1914. Scores
of offices have done more postal
savings business since the War has
ben 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 Sept
eInber of more than a million, while
Brooklyn showed q relatively big in
crease. Chicago reported a 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 i'll that
city up to over 21,000.
| The unexpected increase in postal
savings business has not only added
greatly to the general Administered
i've, duties. OF the system, but has
brought up many new and interest
ing problems which have called for
The personal consideration of Post
master General Burleson and Cover
nor Dockery, Third Assistant Post
master General. But their task
has been frightened somewhat by the
pronlptness of depository banks in
furnishing additional security to
meet the abnormal deposits. A num-
Der of the very largest banks in the
country, which have heretofore de-
clined to qualify as repositories for
postal-savings funds are now among
the eager applicants for them.