National Savings Banks

Representativo Waddell, of JNoitü Carolina, has introduced in Congress a bilí to establish and maintsin national savings depositories, as a branch of the Postoffice Department. It is, in many respecta, similar to the bilis heretofoia introduced for that purpose. In order to give oomplete and direct security to all depositors, the credit of the United States is pledged for the repayment to the depositor, or to his legal represente - tive, of every sum of inoney depositcd. ïhere is to be a ohief office at Washington, and the Postmaster General is authorized to desígnate such suitable money-order Postoffices, at which the salary of the Postmaster is not less than $600 per annum, as the business of the postal savings depository may require. The rate of interest on tlie deposits shall not exeeed 3 per cent. per annum, and shall on the 30th day of June and 30th dny of December, in each year, be added and become a part of the principal. The aggregate amountof principal and interest to the credit of any depositor shall not exceed $1,500, and money due to a depositor, whether remaining on deposit m said depository, or invested in bonds, 'or which the bilí makes provisión, or in ;he inscribed debt, shall not at any time. while in the custody of the United States, De liable to taxation under any State or municipal authority; and any such money shall not be liable to demand, detention, seizure, or withdrawal without the voluntary consent of the depositor, by reason of any debt due against the depositor or his legal repre: sentative. Another illustration of the faot that inventors seldom reab'ze the benefit of their own inventions is the recent death of John Young, the inventor of the wringer, at Amsterdam, N. Y-. in comparativo poverty. He once sold a conditional right to a Boston firm for $5,000, when he might have reahzed $100,000,