POSTAL SAVIXGS-BANKS. 163 



1884, they had received in all 3,311,333 deposits, amounting to 64,- 

 763,350 florins. They are well conducted, and likely to prove very 

 successful. The Belgian system has been in successful operation for 

 more than fifteen years ; that of the Netherlands was established some 

 three years ago ; while Sweden has just followed her neighbors, Den- 

 mark and Norway, in establishing similar institutions. 



In 1871 Postmaster-General Creswell recommended the establish- 

 ment of postal savings depositories in connection with the United 

 States post-offices, and two years later he discussed the subject very 

 fully in his annual report. Several of his successors have renewed his 

 recommendation with great earnestness. Hon. Thomas L. James, after 

 referring to and highly approving of these recommendations, said : 

 " It is my earnest conviction that a system of this description, if 

 adopted, would inure, more than almost any other measure of public 

 importance, to the benefit of the working people of the United States." 

 In 1873 Hon. Horace Maynard brought before Congress a bill to estab- 

 lish a national savings depository, but no action was taken. Since then 

 a number of efforts have been made to induce Congress to enact the 

 necessary legislation. The latest of these efforts was made in 1882, 

 under the leadership of Mr. Lacey, whose report from the Committee 

 on Post-Offices and Post-Roads contains valuable information and sug- 

 gestions on the subject. The bill which Mr. Lacey introduced, and 

 which has recently been strongly indorsed by the State Charities Aid 

 Association of New York, and other advocates of postal savings- 

 banks, provided that none but money-order offices should receive de- 

 posits ; that no single deposit should be less than ten cents or more than 

 one hundred dollars ; that no one person should deposit more than one 

 hundred dollars within thirty days, or have at any time more than five 

 hundred dollars to his credit ; and that interest at two per cent should 

 be paid on all sums over three dollars and multiples of one dollar, be- 

 ginning the first of the month following the deposit, and stopping the 

 last of the month preceding the withdrawal. 



Would such postal savings-banks be more convenient and accessible 

 to the masses of the people than existing institutions and organiza- 

 tions which undertake to safely keep the surplus earnings of the 

 people ? Would they furnish better security for deposits and greater 

 encouragement to thrift ? Could the Government, without interfering 

 with existing institutions and without loss to itself, carry on this sav- 

 ings-bank business? Would the benefits resulting from properly 

 conducted postal savings-banks be sufficient to justify the necessary 

 extension of the functions of our Government and the increase in the 

 number of our civil servants? These are the chief questions to be 

 considered in deciding whether or not it would be wise for the Gov- 

 ernment to undertake to keep securely the small savings of the people. 



There are in this country a number of institutions and organiza- 

 tions which undertake to persuade poor people to form habits of thrift, 



