Bankers And Postal Banks

John Farson of the banking house of Faraón, Leacfa & Co., Chicago, offered 11 resolutiou in the Illinois Bankers' association meeting at Peoria, Oct. 13, urging the establishment of postal savings banks by the national governuient. The resolutions reuited tliat the nuinber of savings banka in the United States, especially iu the est and south, was uot sufficient to meet the needs of persons of small means for safe places of deposit for tlieir small accumtilations. Thydeclared that the establishment of postal savings banks would tend to the greater stabüity of the govermnent by giving to tbose of small means a more personal interest in its well-being and would promote the welfare of the country by encouraging among the people habits of tb rif t and economy. it was, tberefore, suggested that the convention give its indorsement to the ruovement among the people looking to the establishment of postal savings banks; provided that the system be carefully safeguarded so as to protect both the nation and the depositors, and provided, further, that the liinitation on the amount that may be deposited by any one person bc hucIi as to prevent unnecessary interference with the business of private bankers from Chicago were all apparently in favor of the resolutions; however, a number of cautious bankers from other cities of the state buiied them, thougb friends of the movement were not lacking among the small bankers. The opposition seemed to be pased on a fear that postal savings banks would take some depositors from the banks run lor private gain. On the other hand, it was urged by friendly bankers that the govermnent banks would assist the banking business by tnaking all banks more safely conservativo and by increasing largely the number of bank depositors, all of whoni would begin in a small way and would in inany instances grow out of the restricted limita of govermnent banks within a few years.