Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-04-25
POSTAL SAVINGS SYSTEM
GROWTH IS ENORMOUS
497, 900 Accounts Open on December
81, 1914, P. O. Depart
ment Reports.

Showing the enormous growth of the
| postal savings system of the United
States. bulletin was issued last night
by the Post Office Department. The
citizens of Washington have used pos
tai savings depository here to a very
great extent, the bulletin points out
| It says. in part:
January 3. 1911, the United States
postal savings system became a reality
The Inauguration of the service was
effected by the establishment of de-
positories in forty-eight offices of the
second class. one in each state and
territory. The system was extended to
the first class post Offices August |
1911. when repositories were estab b.
lished in New York, Chicago. Boston
ana ST. Louis.
Washington Depository.
The Washington depository was
opened September 30, 1911, and has at
tanned very satisfa Glory results. Dur
ing the period from September 80, 1911,
to December 81 1914, postal savings
certificates to the value of $S09,25S
have been issued, while certificates in
the amount of $513,603 have been paid
leaving balance of S295,655 standing
to the credit of 1858 depositors. OF the
sol3,603 above mentioned as paid
sl4o,4O was withdrawn only in the
positors into postal savings bonds. In
ADDITION to which bonds of the issue
OF January l. 1915. to the value of
s2o.5oo. have been applied for by de-
positors
The service was raj dly extended to
post offices throughout the country June
30. 1913 there were 12,S2O repositories
IN operation. The system has attained
phenomenal success, and bids fair to
eclipse the greatest of the foreign sys-
tens, December 81. 1914, throughout the
I n1ted States. there were about 100000
accounts open. with approximately so9,-
100000 on deposit
Wide Support of System.
The support of the system is not con-
fined to any one class of people II
numbers among its depositors those in
professional and scientific fields of en-
deavor, those in proprietary and super
visory positions. statesmen and sales
women. clerks. housewives, school chill
dren and laborers. as well as persons
having no active occupations, but living
on their incomes from property.
About one-tenth of its patrons are
children between the ages of ten and four
teen years. while more than 3 per cent
OF the depositors are sixty-five or more
years of age
The postal savings system provides
repositories at designated post offices for
the acceptance of the savings of the pub
Hc allows interest at the rate of per
cent per annum, and permits Withdrawals
on demand. The faith of the United
States government. backed by it's vast re-
sources. is pledged to the repayment of
all deposits. Any person not less than
ten years of age may open, maintain and
control an account in his or her name.
A married Woman's account, opened in
her name, is free from the control of her
husband.
Saving Small Sums.
Postal savings cards and stamps, at 10
cents each. may be utilized to save the
small amounts that SO easily filter through
the fingers.
In Washington the main post office and
all of its ninety-four branches through
out the city are supplied with cards and
stamps. 50 that the savings may be readily
converted"