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Show rOSTAL tA 1NGS BASKS. Fostraaitfr General Wanixekeb is ns ear.ui.'.t us cv..-r in U iH-s'to to seo the j.'0.-;'i.a iurlogs batik svstom -tdoptec in tlsla tounrrv. Re urged als plan '.tnsnce BBafajly before no eMtgrasse. but defeat tloes uot seem to have da.np ened his ardor. !u di&cusaitrg tb ma', ter n- aHy be amid tho opposition of private banks h.. 1 D.tier-'l Um pttasagr of the accessary islaiion, hat that they -..ore f;L:Jrij 1:1!.. ken in sitppos-j sitppos-j " i::,' th&i tbelr l.usi.;t ss would bo Injured thereby. a matter of fct, ti.e savings sav-ings which would reach tho postal depositories de-positories would come from a differed! class of depositors ahopelher.and while adding to the accumulations of persons of limited means, would divert little or nothing from tho banking institutions of the country. Mr. Wanamaklh has estimated that in less than two years the enormous aggregate ag-gregate of KbSG, 000, 000 eould be gath-ered gath-ered into postal savings banks were they established, and one of the obstacles obsta-cles in the way of keeping the money in circulation is the lack of interest-bearing interest-bearing securities of the government in which to in vest the savings. The most acceptable security would be government govern-ment bonds, out these are rapidly maturing, ma-turing, and before many years trill disappear dis-appear altogether. Public sentiment is universally in favor of the postal savings sav-ings bank, and an institution which would confer such incalculable benvlits upon the working classes, who are mostly in need of a safe depository for small savings, should certainly be provided pro-vided for their accommodation, especially especi-ally when it can lie doue w ithout any expense to the national treasury. Mr. Wanamakku s idea is that the money deposited should be invested so as to pay the cost of the plan to earn interest in-terest for depositors and also to compensate com-pensate postollice employes in wages for handling and keeping a record of the deposits." The money could be loaned to the national badks at a low-rate low-rate of interest, and by them used in their ordinary business. The security se-curity would be ample, since the loss )y national bank failures is next to nothing. |
