Salt Lake Herald-Republican | 1910-02-03 | Page 10 | Heyburn Attacks Postal Bank Bill

HEY HEYBURN BURN ATTACKS An ACKS POST Al BANK Bill Amendment by Senator Smoot of Utah Starts a Gen General eral etal Discussion VJ ton Feb Fell 2 Should the pos poi post t savings bank bill become a law it v greatly endanger it If not nit no destroy de Incomes to the amount of hundreds of r J i ons of dollars declared Senator today todar The he Idaho Senator I durl discussion of v 33 aged In a general tit 1 L 1 r bill hii in connection onn with wih Ith an t amend ame d ii J nt at n presented n nJ by b Senator Smoot for fort fort t c regulation of the removal of postal i lugs deposits from 01 He Ho contended c l that Inasmuch as the fund the lull bill would reach rach fully J it would bl enable the board t trustees to dictate the rate rte of in int t rt t throughout the country In Jn other words the tho government pur 10 to Ii go g into nto the loaning 1 ail id and intends intend to te fix the rate late v interest at i per cen cent In lii II view of this fact tact he lie e asked what ff tr t of ff would be bP 1 on incomes derived from om funds invested at 3 S md nd 8 6 i per pr cent Should houd we wt he then asked ake so ao for t duty duh to the widows and or 01 j f or Invested thus Whose funds fund are tans art j 3 hilS of oi oft oit M I 1 to disturb the earning capacity t ui h investments Inn He Hc lt 1 that that the bill bi hould IMS be b act to constitute the an collection ion agency for tn JV a bill bUl bUlas b and added that under the 3 vas ivas as the purpose to convert the gov go govI I into a collection Mg ncy with MI Mr asserted also alao that wih there was no HO HOI t I c i money once deposited Ha its ro rot I 1 Lt it means of o obtaining Is 1 t to the depositor depositors irn un th the theIn called attention to s Carter arter en say sav sa In 1 I sat t in times of emergency anks generally require luire a notice with Uh r tid ty to sixty days day for fa the c t w Vi ai of o if f fun funt One inu amendment by Senator I avii OIl for the th deposit of postal 9 U a in m hank bank under state inspection in J federal su sw suI suF those thOR under 0 veU as a in I F vision 11 was WiS Wa adopted ll amend moot Smoot proposed ai al a fl for loI the withdrawal of l I at nt providing lIO jh dg from lank hank not willing wiling to pay pa par U and il it vas a under r c tnt ut i 1 t i ni w lieu t the he Senate enatt adjourned rued