Show Postal Sayings Bonks Chicago 25Tribunes Washington The draft of a bill for a postal savings bank system which Postmaster General James will cause to be presented to Congress Con-gress will em brace the following feature First that the postoffiee department should be authorized to establish postal savings banks at its discretion Second the system should be selfsus taining no appropriations being required Third the credit of the United States be pledged to the payment to the depositor deposi-tor or his legal representative of every sum deposited in accordance with the provisions of the act Fourth the rate of interest to depositors de-positors shall be 2 per cent per annum the 1 per cent difference to be for the payment of all expenses of whatver nature na-ture under the system and the surplus if any to be turned into the general fund of the postoffice department This bill will further provide for the safe keeping of money deposited until it can be turned over to the control of the depository at Washington for investment for protection pro-tection against fraud on the part of de post lor for the early withdrawal of deposits at the option of depositors and for the detail of the necessary inspectors and clerks as at present agreed upon I each person can deposit not more than f 500 in one year ncr can he have on dd posit at any one time more than 1500 Abram S Hewett who has been spending spend-ing the summer in Europe has paid special attention to the postal savings banks system and will be a warm favorite favor-ite of it |