Jasper County Democrat, Volume 9, Number 27, Rensselaer, Jasper County, 6 October 1906 — POSTAL SAVINGS BANKS. [ARTICLE]

POSTAL SAVINGS BANKS.

Lake County Times: The Postmaster’s association of the Tenth congressional district whose meeting adjourned at Valparaiso last Wednesday endorsed the passing of a bill establishing the postal savings bank. The spirit is significant and commendable. Despite the rapid progress that this country is making in its mail service, the postal savings bank seems to be still distant. In the United States senate it has still too large an opposition. Not that the common people do not want it. They are asking for it. The foreigners especially are loud in their cry for it. They have seen its advantages in the old country. But as long as the men in the senate Are bank presidents and in other ways connected with banks their vote will be in opposition to the people’s wishes. Had there been a postal savings bank system in foroe there probably would not have existed a Milwaukee avenue bank in which tnousands of foreigners were held up by a clique. Banks, especially state banks, are a convenience for the rich, while the postal savings bank is the pobr man’s bank. Only the constant cry for it by the whole public will make it a permanent institution.

Cincinnati Enquirer: The sentiment of a large majority of the community seems to have been voiced by the action of the Cincinnati Council at its last meeting in adopting the following resolution, upon recommendation of its Committee on Finance: Whereas, Repeated failures of savings banks involving the small savings of wage-earners and others have demonstrated the necessity of a system by which such savings can be made absolutely secure; and. Whereas, This question has been solved in other countries by the institution of postal savings banks, which have proved to be effective in encoui aging thrift and economy among the people; therefore, be it Resolved, That we favor the establishment of postal savings banks in the United States and urge upon Congress the speedy enactment of the necessary laws for that purpose.

If similar action shall be taken in other cities and communities to an extent that shall arouse such a sentiment that Congress will conclude to give this subject early and careful consideration, something will have been accomplished in the right direction. The common people will generally favor this plan. They are willing that the United States Government shall have charge of their savings, because they never yet heard of its failing to make good its obligations. Many countries have tried this manner of banking, and done of them have yet had occasion to regret the venture. All the Racine make of Shirts you want can be had at Wildberg’s at reduced prices.