The copper era and Morenci leader. [volume] (Clifton, Ariz.) 1911-1929, 1914-10-30
WAR IN EUROPE HAS
NOT INJURED THE
POSTAL SAVINGS
Contrary to General Belief, Records
, Are That Deposits Have Greatly In
creased Since War Began.

The war in Europe is proving big
boon to postal savings in this country.
From the very day hostilities opened
across the seas postalsavings re-
ceipts began to increase by leaps and
bounds and Withdrawals fell off, re-
suit quite contrary to the predictions
of many well-informed persons who,
in their imagination, saw lines of
feverish depositors at postoffice pay
WINDOWS anxious to again return their
savings to the bootleg and body-belt
intrusted to Uncle Sam. But the fore
casters failed to reckon on the abb
soIute confidence of the American
citizen, 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 released for commercial uses
among our own people at time
when the need for every available dol
lar 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 aid the
transmission of money across the
Atlantic was safe and expeditions,
there was approximately $43,000,000 of
postal savings standing to the credit
of about 388,000 depositors. Since
then over $4,000, 900 of deposits have
been added and the number of de-
pcsitors 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 bust
ness 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 10
calfties, but have been felt in every
nook and corner of the country. New
York City alone made a gain in Sep
tember of more than million, while
Brooklyn showed "a relatively big in
crease. Chicago reported larger
gain in the past three months than for
than 1000 new accounts were opened
during the period, bringing the num-
Der of depositors in that city up to
over 81 900.
/ 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 prob
{ lens which have called for the care
; full personal consideration of Post
master General Burleson and Governor
! Dockery, Third Assistant Postmaster
General. But their task has been
/ lightened somewhat by the promptness
of depository banks in furnishing addi-
tional security to meet the abnormal
deposits. A number of the very
largest banks in the country, which
have heretofore declined to qualify as
depositors for postal-savings funds,
are now among the eager applicans for
them.
Clifton Deposit Record.
From figures compiled by Postmaster
Lehman, the record of the Clifton
postofflce regarding the postal savings
/ in line with the conditions of the
department is more than optimistically
department over the entire nation is
gratifying. Lehman states that on
July 1, 1913, the Clifton postoffice de-
pcsits amounted to $11,322 90, with
bonds purchased for local depositors
! to the amount of $2,900.000, and with
Withdrawals to the amount of $12,-
$500 with actual gain in deposits for
the fiscal year, July L, 1913 to July l.,
1914. 81, 365 90. Now coming to the
time of actual war in Europe, when
the deposits would naturally be sup
posed to diminish, the records are