Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1915-05-28
Postal Savings Bank.

Every person In the United State
ten years old or over may open .
account In . postal savings ban
after July lst, according to an in
structive leafet on the Postal Saving
System just issued by Postmaste
General Burleson. This lmportan
extension OF the service will be mad
possible by permitting persons livins
in communities so sparsely settled a,
not to justify the designation OF thei
local post Offices as regular posta
savings bank to open accounts b,
mail.
Governor Dockery, Third Assistan
Postmaster General, who has direc,
supervision of postal savings. wa,
SO impressed by appeals from all owe,
the country to open postal savings
accounts by mail that he took up tbs
task some weeks ago of working GU,
q feasible and safe method for meet.
ing demand we'll illustrated in a
letter from Saline County Missou-
rian, who resides many miles from q
postal savings bank.
Having a few hundred dollars
saved from fifty years of hard and
asslduous labor and skimping econ
omy on the part Of my wife and my
self, we concluded to deposit it in the
Postal Savings Bank of - We
wrote to the postmaster at that place
and received reply to the effect that
none but patrons of that office could
deposit in that Office which is very
disappointing news to us. Our little
farm is not large enough to support
US and land is SO high that it is
impossible for US TO buy more with
what little we have saved and we are
SO old that we can't labor much now
md we would be SO glad to lay by at
last enough to put us away 10 de-
g cy."
ier the plan adopted by the
.Lmaster General for opening &C
counts by mail an intending deposit
tor, residing where there is no regu-
larly designated postal savings bank,
will apply to his local postmaster
who will see that necessary identified
ton data is prepared and forwarded
to a nerby post Office authorized to
accept deposits The intending de-
position will then be given permission
to forward his first and subsequent
deposits by money order or registered
mail direct to the postmaster at the
bar king point for which receipts or
certificates will be issued. He may
Withdraw all or any part of his postal
savings by mail and on demand
together with any interest that may
be due him.
The new leafiet points out that any
person ten years old or over may
open an account in his or her own
name: that an account may be opened
by married woman free from any
control or Interference by her hus
band; that post Office officials are
forbidden to disclose to any person,
except the deposition, the amount of
any deposits that Withdrawals
may be made without previous
notice; and that the Government
guarantees to repay all deposits Cd
demand with accrued interest.
The leahet will soon be printed in
p foreign languages for distribution
local postofices. The foreign.
born citizen has taken very kindly to
postal savings, and literature in his
own language will be of great assis-
lance to him. In a recent article,
Postmaster General Burleson com
mentsd on the foreign born deposition
as follows:
Upwards OF 500, 900 depositors now
have accounts in the Postal Savings
System and they represent every
nationality on the esrth. They ais.
represent almost every known occu-
patton professional men, theatrical
people, IN echanics, laborers, fisher
men, pack peddlers, etc Bnt the ma
ority are wage-earners, and of this
class the foreign-bor largely pre-
dominate. A. census of depositor.
'aken by the Post Office Department
shows that approximately 40 per cent
200, 000) Of the depositors are foreign
BORN citizens and they own more than
30 per cent of the deDosits-splendid
evidence of the confidence of oul
newly acquired citizens in the ability
md good faith of their adopted coun-
ry to fulfill its obligations.
There is another reason which LED
mmi ants unfamiliar with our Ian.
,uage and business methods, to turn
10 the Government to safeguard their
humble savings and that reason is thu
experiences many of then
nave have had by the failures Of bogus
private banks" differed by swind-
ers of their own tongue who have
oreyed mercilessly upon their lone
iness apd credulity."
Postal Savings receipts have broken
Ill records the past year. During the
eight months prior 10 April list there
vas net gain in deposits Of Si9.-
)00,o00, as against gain of IS, 900, 000
'or the same months the year before.
Thousands of new accounts have been
opened md the millions made up
largely OF hidden savings nave been
burned b OK into the channels of trade
just Il. a time when there was press
ing demand for every dollar.
Postmaster W. M. Calvert reports a
steady increase in deposits &c the