Show postmaster general hitchcock is taking energetic steps to get the postal savings banks in operation ld in accordance with the recent law of congress as soon as possible it will be some months at best before any postal banks will be opened for business however a as many details in regard to their organization and management have to be worked out still the postmaster general secretary oi of the treasury and attorney general conati constitute a committee for this purpose blanks and forms for carrying on the business of the banks are being prepared and information on the subject from other countries haying such banks his has been requested for our guidance the plan is I 1 to try out the system at rust first in in a number of typical places and then extend it ga gradually dually until the whole country is is covered it may surprise many people to learn icam that daniel defoe the author of robinson crusoe was the first fast man to suggest small savings banks but his his suggestion fell on deaf ears cars for the people then kept their savings in stockings chimney holes etc and had no faith in public places of deposit mrs priscilla wakefield established a sav ings bank for children in england over a century ago and it became a great success jeremy Bent bentham harn had advocated the mca of popular savings and gradually the he doeple were won over to them A scotch preacher named duncan is recognized as the father of the modem savings bank and the centennial of his first fast bank at rutha 11 has bas just been celebrated at edinburg in order to convince the depositors that their adny money would not be stolen mr duncan cirii had the cash and papers kept ia L a strongbox strong box h had three different locks to it and the keys of these three locks were in the hands of three different men of trust As it was impossible for any one of these men to opery open the box unless the others were there also it was supposed that the money would be entirely safe deposits soon poured in and from that time the credit of savings banks was established in 1861 the british pos postal tal savings bank was started and the idea has spread now until nearly all the leading nations have something of the sort the united states has been very backward in the matter but has at last under tinder pressure got in line with modern progress |