OCR Text |
Show I I POSTAL SAVINGS BANK COMING. H H Postmaster General ITitchcockj assured of the success of the m postal savings system, has decided to designate from HO to 300 ad- m ditional postal savings banks each month, until the system has H I been established throughout the United States. I The government banks have won the confidence of the pco- H'1 pie and hundreds who have distrusted other custodians of money H place their savings in the postal savings bank. H Jn the western country much money drawn" out of circulation H. by Greeks, Austrians and other foreigners and . horded will be H'i brought back into commercial channels through the government HJ i banks. '1 ... j Not long ago twenty Austrians, just before departing for their H j old country homes, dug up over $40,000 they had secreted in a cel- HjjJ lar in a local saloon conducted by one of their countrymen. That Ir j money had been buried and lost to commercial use for from one to H five veal's. H The Italian who was killed by a passenger train approaching H the Ogden yards had $1,000 in a belt which he wore, and there arc H: thousands of Greeks in this country who carry all their savings in H ' i the same manner. Money, in the belts of foreigners, is money H J ' locked up and rendered useless until again restored to circulation. Hi 'ij ' If the government, through its postal banks, can inspire confidence Hi i and cause these borders of wealth to deposit their accumulations H i in the new savings institution, the efficiency of monej" throughout I ' the United States will, be considerably increased, as the money so I 1 released will go back into commercial channels, through United I' States depositories and other banks. I ' , The Ogdcn postofficc was one of the first to apply for a postal I i Ravings bank and it would not be surprising, if, within the month, orders should be received by Postmaster Sluuiliff to open a savings ij department in the Ogden postofficc |