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Show PCSTOFFICB 8AVTHGB BAKKB. I The passage of the bill recently introduced in-troduced into congress for the establishment estab-lishment cf a system of postal savings banks would meet with popular I approval. The numerous failures of; savings institutions throughout the! country, and the great loss which the; poor, hard-working people have there-1 by had to sufier, have dealt an almoot J j fatal blow to that class of depositories, True, in many instances, the immedi-1 ate cause of failure was the didhonetty j of managers; but the system is not a, safe one where values are so unstable J and an liable to sudden and unlcoktd for changes as in America. The amouut of money held by saviugd bankb ia the United States is nearly $2, 00 0,000,000, on which the annual inten d! rate ranges from 3 to 12 per cent. In order to pay this interest the banks must keep the money pretty steadily at work a thiug not easily accomplished if perfectly sate security is required; and if the security secu-rity be not good the depositor U the sullarer. By the establishment of postal banks, government would substitute sub-stitute itself for the borrowers of the country, and fuiuieh the laboring classes a safe depository for their savings. A large portion oi tne money borrowed from abroad would be obtained at home, and the interest in-terest remain in the country instead in-stead of being shipped away to enrich other nations. A financial policy similar to this raised France from the verge of bankruptcy a few years ago, till to-day she is perhaps the most prosperous nation of Europe. She borrowed money at home, and paid the interest to her citizens. Her loans were popular, being obtained largely directly from the people. With postal savings banks, and gov ernment bonds of small denominations, denomina-tions, bearing a low rate of interest, the masses would invest their little earnings and feel that they were safe. They would ntl go to bed with any misgiving that on arising in the morning morn-ing thsy would learn of the low of their little store through the failure of the bank. The unfortunate speculations specula-tions or stealings of a bank official would not endanger the investments of depositors. While the passage of the proposed law and the carrying of it into effect might temporarily derange the savings sav-ings system which is so closely interwoven inter-woven with the industries and business busi-ness of the oountry, its benefits and general adaptability to the wants of the people would soon esUblish themselves, them-selves, and whatever of consequential injury might in the outset be done to tho few, would be amply repaid in good to the many. We are decidedly in favor of postoffiee savings banks. |