Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-05-09
WHAT THE GOVERNMENT IS DOING
The public is growing more familiar
with the postal savings system and ie

The public is growing more familiar
with the postal savings system and ie
coming to look on it in
Postal particular as sort OF
c.u;, storm cellar in which to
seek refuge whenever
economic storm clouds gather. That
there is this feeling of confidence
toward the governments bank became
apparent with the minor shiftings be-
tween good and bad" times in the
early years of the systems existence,
but the conclusive proof lies in the
greatly increased deposits that have
come since the outbreak of the Euro
pean war gave existing financial con-
ditions their greatest shake-up of mod
ern times
increases in the amount held to the
credit of depositors had been steady.
but relatively small, for the months
Immediately preceding the beginning
of hostilities early in August, but the
increase after that date was sudden
and marked. For the six months end
ing July 81. 1915. the increases were
per cent for the five months from
that date: to the end of the year the
increases were about 36 per cent This
was four times the percentage of in
crease for the half-year preceding, more
than twice that for the corresponding
period the year before. and equal to
the percentage of increase for the pre-
ceding fifteen months.
Besides the desire of people in all
walks of life to have the government 8
credit pledged for their funds in unset
tied times. the war limit" of 800 set
by the Postmaster General on foreign
n " q q
probably factor in increasing depos-
its. since persons accustomed to send
ing money to Europe are believed to
have diverted some of it to the postal
dence in large measure by the first OF
the present year. and. perhaps. in a
minor degree. the removal at that time
of the limit on foreign money orders.
resulted in shrinkage in the rate OF
increase in postal savings deposits.
amount on deposit is less. but merely
that the long lines of depositors who
already patronize Uncle Sans banking
windows are not placing such large
during the latter half Of 1914. For the
first quarter of 1918. however. the de-
posits showed slightly greater rate
of increase than for the corresponding
period of the year before-6.4 per cent
as against 81 per cent.
there was on deposit with the postal
savings system approximately $62.750.-
On0 and former deposits to the amount
of S6.441. 800 had been converted into
postal savings bonds. The number of
depositors was about $4,000. each de-
positor having to his credit approx
mately $500
Although the postal savings system
has grown rapidly since it's windows
were first opened. January I, 1911, it's
growth would have been even more
rapid and it's usefulness would be
broader. it's administrators believe. II
some of the restrictions thrown about
it were modified. Now not more than
500 can be deposited to an account in
one month. and no depositor's account
can exceed $500. Bonds can he pur-
chased to the amount of the deposits
emi-annually. however. and this makes
possible the deposit. at the maximum.
of 81 900 a year. The Postmaster Cen
eral has recommended the removal of
all limitation on monthly deposits and
the doubling of the limit on total de-
posits, and it is believed that a law to
this effect will be passed by the next
Congress.