Evening Republican, Volume 20, Number 125, Rensselaer, Jasper County, 25 May 1916 — Postal Savings Limit Raised to One Thousand. [ARTICLE]

Postal Savings Limit Raised to One Thousand.

Larger postal savings deposits will now be accepted at the postoffice. This is made possible by an important amendment to the postal savnigs act just approved by President Wilson. A postal savings depositor may now have an account amounting to $1,009 upon wfhich interest will be paid. Formerly SSOO was the maximum amount he could have to, his credit. This enlargement of postal savings facilities will be very gratifying to thousands of depositary who have already reached the old SSOO limit and are anxious to entrust more of their savings to Uncle Sam. Another feature of the amendment that will avoid further embarrissment to the public and to postal officials is the doing away with the limit on the amount that could be accepted monthly. Under the old law only SIOO could be deposited in a calendar month from one depositor. The amendment abolishes this restriction. While the Postal Savings Syster has already proved a. signal success as is shown by the fact that more than half a million depositors have over eighty million dollars standing to their cerdit, stil it has fallen short of meeting the full demands of the public because of the restrictions which have now been eliminated. Postmaster General Burleson and Assistant Dockery have been tireless in their efforts to secure a modification of the limitations and the new liberalizing legislation is particularly gratifying to them.