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Canada System Best

Canada System Best image
Parent Issue
Day
24
Month
September
Year
1897
Copyright
Public Domain
OCR Text

Washington, Sept. 21.- The interest which Postmaster General Gary is taking in the establishment of a postal savings bank will result in a wonderful popularization of the idea. A campaign of education which has already been entered upon in a way will before long be made to yield results. The postoffice department is collecting official information on the subject from every source, and by the time congress meets the lawmakers will have at command an immense amount of data showing what has been done in countries where postal savings banks have been in use for a period of years. Postmaster General Gary in his forthcoming report will pay particular attention to the Canadian system which seems to be adapted to the needs of the western hemisphere rather better than the systems in vcgue in the oíd world. The Canadian postal savings bank had deposits on hand at the time of the last official report amounting to about $29,000,000, which represented the savings of 154,000 depositors. The population of Canada approximates 5,000,000. It is altogether probable that if a similar system is established in the United States the proporticn of depositors and of swings will be larger than in Canada, but -even allowing that it is the same, the number of persons who would intrust their savings to the care of the government would be 2,620,000 and the amount of money they would have on deposit nearly $500,000,000.

Article

Subjects
Ann Arbor Argus
Old News