The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1914-11-07
INCREASE IN POSTAL SAVINGS.
Gain in Deposits In Last Three
Months Larger Than for Entire
Fiscal Year Preceding-Rusiness
of Local Office Doubled.

The war in Europe is proving a
country. From the very day hostili-
ties 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-inform-
ed persons, who, in their magma
tlon, saw lines of feyerish deposi-
tors at postoffice pay windows an
xlous to again return their savings
to the bootleg and body-belt deposi-
tories whence they came before in
trusted to Uncle Sam. But the FORE
casters failed to reckon on the abso-
lutte confidence Of the American cit
lzen, 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 follow
ed: thousands Of people, largely Of
foreign birth, accustomed to send
their savings abroad, are now pa
irons of Our postal savings system;
and enormous sums of actual cash
nave 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 tim
can depository and the factory pay
master. On July 1, when affairs
We're running smoothly here and
abroad and the transmission of
money across the, Atlantic was safe
and expeditions, there was approxi-
mately $43.00o,OO0 of postal savings
standing to the credit Of about $685..
700 depositors. Since then over $I0.-
0o0,0 900 of deposits have been added
and the number OF depositors has In
creased enormously This unprece-
dented gain is the more striking
when it is considered that the net
gain in the last three months is larg-
er 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 pre-
Ylous existence Of the service The
increases are confined to no special
localities, but have been felt in very
nook and corner of the countrye lew
0rk city alone made a gain In II a.
tember of more than million. WhTIe
BROOKLYN showed a relatively big In
crease. Chicago reported q larger
gain II he past fhrea months than
I for.fhe. praHio lInra
tnan 1000 new accounts were opened
during the period, bringing the mum.
Der OF depositors In that city up to
over q 900.
Ihe unexpected Increase In pee ii
savings has not only added greaI.g to
the general administrative duriss of
the system, but has brought up many
new and interesting problems which
nave. called for the careful personal
consideration of Postmaster General
Burleson and Governor Dockery.
th1rd assistant postmaster general.
But their task has been Hghtened
somewhat By the promptness of de-
pository banks in furnishing addition
al security to meet the abnormal de-
pos1ts. A number of the very Iarg-
est banks In the country, which have
heretofore declined to qualify as de-
posftories for postal savings funds.
are now among the eager applicants
for them.
During the last three months the
local postoffice has more than dou-
bled the postal savings business done
Dy it during its previous three years
OF existence as a postal savings de-
pos1tory. Or July /, 1914, there wers
~ depositors In the postal savings
department with a total Of $4,000
to their credit, while October 1. 1914.
IS depositors with a total to
their credit of 5000.