Democratic Sentinel, Volume 16, Number 46, Rensselaer, Jasper County, 2 December 1892 — A Marvelous Business. [ARTICLE]

A Marvelous Business.

Cue person out of every seven in the United Kingdom is a depositor in the po-tofflce savings banks, which have n arly $360,000,000 deposits. To manage this business there is a headquarters staff of not far from 1,900 persons at the Lon lon Postofllce Bank, of which every money order postoffice in Great Britain a .<1 Ireland is a branch. Every deposit male in any one of the postoffiops is foiw rded to the London headquarters. The local r ostmavter simply takes the ca-h and sends it up to London, merely entering it on bls accounts and on the depositor’a book. The London office keeps an account against every one of the 10,600 branch offices. How great Is the labor entailed will be realized when It is stated that in one day as many as 72,689 deposits have been made, that last year 'a92,000 accounts were opened and 701,000 closed. It is estimated that in the twenty-five years the savings hank system has been tn operation irauda and Inaccuracies have amounted to only about a half-penny for every £SOO.