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People's voice. (Wellington, Kan.) 1890-1917, September 07, 1899, Image 1

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn85032801/1899-09-07/ed-1/seq-1/

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8taU ILilorieal $0C7
11 ID
Postal Savings Banks,
A Paper Read by J. W. Varr at the Congressional District Farmers'
Institute, Mch'ne, 111.
It is not from any spirit of hostility to
existing savings institutions, nor with a
view to suggesting a remedy for any
possible defects or shortcomings that
may have been revealed, that I am in
duced to favor the plan of postal savings
banks. I believe that as a rule our sav
ings banks are honestly and efficiently
managed and that if they fail to meet
every requirement of an ideal institution
with regard to serving the wants of the
people it is owing to peculiar conditions
entirely beyond their control. I believe
that postal savings banks instead of act
ing adversely to the interest of private
savings institutions would have the effect
of strengthening them, because they
would inspire public confidence in, and
popularize banking methods.
There are millions of dollars today
hoarded away; doing no good to the
owners nor the community at large and
this condition exists as a natural result
.of ignorance, prejudice, or lack of con
fidence on the part of that great mass of
people who have not sufficient education
or experience to understand the complex
problems of finance, and hence cannot
be expected to place confidence in what
dition of the people. Why go on perilous
expeditions to the Klondyke to liberate
the gold that is locked up in those frozen
hills when we have such a vast volume
of gold already coined that is lying idle
and unproductive all around us ? If we
can liberate and put to use a hundred
million dollars that we now have, is not
the effect the same as getting one hun
dred millions from the miners? It is
not what we eat, but what we digest that
strengthens and develops the physical
system, and it is not the money we pos
sess, but what we use, that turns the
wheels of commerce and co-operates with
brawn and brain m making our country
We are all free to give the advice to
save, save, save, but we have not done
our whole duty unless we provide some
means whereby the sums may be saved
and still not withdrawn from circulation,
as they would be if they were merely
safely and profitably loan its funds at
three per cent per annum, making it
bonds, Ji5,ooo instead of f 25,000, a dif-jfl?
'"iui'- t iu.iaaj, mui sum 11 expend
ed on the streets and alleys, would have j
an appreciable effect on the health and
temper of both the wayfaring man and
those who are compelled to live by the
process of breathing.If the postal savings
banks should, as in justice they ought,
invest the savings so far as possible in the
locality where they are made, the effect
would be to keep the earnings of the peo
ple at home, where they would be used
in building up and developing home in-interests.
Another very important advantage of
postal savings banks would be in the .
diminution of crime. Scarcely a lay
passes that we do not read in the daily
press the sickening account of some mur
der and robbery. The temptations to
these crimes were afforded by the habits 0'
of people who preferred to hoard their
money in their homes, rather than trust
them to a bank. In many cases, too,
there was no bank convenient, although
a postoffice was close at hand. Should
we not make every effort to prevent
crime as well as to punish ? Many lives
m ma f-iitTiii it ?r it M'V laftl W ' Hi- ML ' t Vh? 1:7-17 1 AJtitSff
o . .. li
I think that if every person
had such a thorough education in busi- are annually sacrificed, millions of dol
lars are lost, because proper and unques
tionably safe facilities for taking care of
money are not provided for the people. I
do not wish to be understood that in
favoring postal banks I favor what is
ness affairs, and was sufficiently versed
in the principles of finance to deal with
existing banks understandingly, the need
of postal savings banKs would not be suf
ficient to justify us in establishing them.
' fe lilpf
tO" te:5fe ;?S5lr
7 vW i i flW : '
they do not understand. There is no
person, however, so ignorant nor so sim
ple minded as not to have complete con
fidence in anything that is absolutely
controlled by the government. Our sys
tem of currency has educated the people
along this line, and the holder of the
National Bank note, although he knows
it was issued by some particular bank,
never concerns himself about the bank
itself, because lie knows that the govern
ment is pledged to the redemption of
that note, and his faith in and loyalty to
the government dots not permit the
shadow of suggestion of a doubt to enter
his mind.
The regular savings institutions of the
country would be very glau to get rul of
that timid, doubtful, and suspicions
class of depositors. Tlev are a c-j:;sLi:.t
menace to the standing of a bank, for a
mere rumor, unfounded and unreason
able, will cause them to make a run,
which, even if promptly checked, has a
tendency to injure the bank aind hamper
it in extending the limit of its usefulness.
It is well known that savings banks
are required by law to keep in their
vaults about ten per cent of tlie amo
of the deposits. This reserve money
must lie practically idle and unproduc
tive. To this amount of unproductive
capital add the amount that is hoarded
away in the traditional stocking or the
retired stove, and you can form some idea
of the immense amount of money, which
if some means could be devised for keep
ing it ia circulation, would do much to
develop and improve established and new
enterprises for the betterment of the con-
But we must take conditions, not as we j called paternalism on the part of the
wouia use mem, out as they are. We
must face the fact that private banks can
not, if they would, furnish the facilities
iuai me government could easily com
mand. For instance, the postal savings
bank would not reed to keep the large
reserve on hand that private savings
banks are obliged to, because the possi
bility of a run would be entirely elimin
ated: Then local conditions would not
affect the postal savings bank any more
than local conditions affect the value of a
National bank note. Oi course the pos
t d savings bank would rav but a Lw
largest and Most Complete Stock
Unbleached LL Sheeting, LATEST NO VFIT1K the
two bales, 3,000 yards, very fine nvHCUiTj NWYork
and full 36-in, will sell per yard, 3c Markets jst received.
Full Standard Prints, 4,800 J ,ro
. extra uea), Cotton Blanket
yards, price will be only, per yard, 3c
" " " Fine Bleached Muslin, an-
Outing Flannels, two cases of other case has just been received,
4,800 yards, dark and light Out- and goes at 20 yards 1, per vd,' 5c
in'g Flannels, worth 8 Jc, our price 5c ,T
l2o UmbrelIas,bou2ht at a dis-
n n . . it count will be sold very cheap.
Dress Goods, in these we are J 1
giving greatest bargains ever known. More Beauty Pins, per dozen, 10c
PWnim n? MP
m lllllij ,1 1?B
Is always crowded with Customers.
We have the Kiglit Goods at the Hi "lit!
'rices. hM
in a safe place. If the postal savings
bank paid no interest whatever on depos
its it would still be largely patronized by
the people, for the very first considera
tion in the investment of money is safety.
Honey is the life blood of business,
and the prosperity of the whole country
is promoted to the extent that the busi
ness interests of the country are fostered
government. To establish postal savings
banks would not be saying to the peo-
nlp- "Vrm miict znA clioll ,1.:
savings in these institutions," it would and Protected- rnvate savings banks
simply say to them, "We offer vou
place of absolute secuiity for your sav
ings. As a government sre have always
protected your life and your home. We
simply add one more safe guard we will
protect and care for your money if you so
desire it. It is purely a matter of busi
ness, and a business proposition which j
you are perfectly free to accept or reject."
should not be hampered nor restricted in
r J their good work of encouraging habits of
tuntt. rostal savings banks will not
compete but w ill co-operate with them.
They will educate the people and prepare
them to use banking methods in the con
duct of their business, just as the com
mon and high schools afford preparation
for the higher institution of learning
HARD TO CATCH thatourtradeis inking daily, until
c sea more ladies' ii.m t,
In the flag contest the vote Saturday
night, Sept. 2, stood as follows:
Knights of Pythias 209
Workmen 2oi
Woodmen of America 1S6
Odd Fellows' lodge 125
Masonicjodge 101
..... ... QUI - -1
edJ?,en 53 evcr before
O. E. S. cr.1
-" iu i
shoes and mnr. t .
than any other shoe house in the city.
An increase in business always denotes
honest goods and nVht treatment '
j wish to thank our patrons of Wellington
- oumner county for their liberal
patronage in the past and solicit their
patronage in the future. f,.i
able to meet their demands now than
Yours Truly,
S:IV.,F:::::.::::::.::::;i?!H. L. BUTTREY
Fraternal Aid Association Ql t, . .. 1 '
B.ofL. e 37 1 ne Leading bhoe Man.
Fanners should have a special intend I hen F s;ivin
rr.te of interest to depositors, but it would ! in tostal saving banks. True, thp aver.
tl.us be made possible to loan the funds j age fanner is not burdened with the care
at a low rate of interest, and thus prove t of much money at anv one tin htit
a great blessing to borrowers. It is quite ', taxes must be mid and imnlement nntoc
s banks are estab-l
lished, it will afford one more evidence
l t:iat we nave a government ot tne peo-
B.,fL. I
jJaUi.ttrs Reltkiih .
National Aid Association
Select Friends
W. C. T. U
Order of pyraniiis
....21 I
Kily tnat the depjs-.LS would be invested . met. Tlie volume of his finanri.il 1pal.
Lirgely in municipal tonds which wuuld , ings would not warrant the purchase of a
enable cities to make needed public im-; fire and burglar proof safe, and how ap
provements without bleeding the poor . veiiient it would be to simply go to the
tax payers to pay the rates of interest ex-1 postoffice and deposit the price of the
acted by the money market. Suppose a , luad of corn, where it would not only be
case, which represents the actual experi- safely cared for, but would perhaps earn
ence of the average municipality: A sum ; enough enough to take the boys to the
of fco ,000 is required for making some ' next circus a sacred duty that no fann
rcevfitry public improveuieLt, such as er neglects.
waterworks, or a light plant It is decid- The people have demonstrated in tar
ed to issue bends to run ten years, bear- bus ways that they want postal savings
ing interest at the rate of five per cent , banks. One proof is afforded in the fact
per annum. Even should the bonds be , that many people are actually using
placed at par, and that no financial agent, money orders for the investments of
will have to be paid $ 1,000 or f 2,000 for small sums that they do not want to lose
finding a customer for the bonds, the ' nor be tempted to spend. They will go
amount of interest on these bonds, which through the form of making out an ap-
once a year win so distress ana harass plication for money order payable to
the pocr tax payer, is $25,000. their own order, and pay a premium on
Aa Insanity Case.
Franklic Smun. a nut mn
15,24 jean of aye, living cear Corbie,
VV u-iMi ia mil :, . . itouhb
u... ; tie. for the people, bv the people, whose to our new and urto-Lite line i.f .wi'" . . . "& ojr a. jury com-
. ! motto is "the greatest good of the great- Shoes- 'e have the latest stvles, best ' Dr ' G- Emerson, Ab
les number" . stock and closest prices to be'foan 1 in ! ?'1J"nin, M. 'J. Cornwell, Turner
me city, and a vote gors with each 50c
purchase. We aim to please and fit our
Gibralter, Sept. 5. Admiral Dewey
t ilajexprecd a favorable opinion as
to the outcome of the war in the
Philippines, saying that he hopei the
next, dry season would soe the Insur
rection quelled. The admiral baid
be did not expect to go on sea service
iuQ except in the eveut of war, and
that be would probably retire under
the regulations,
Eansas City's great autumn season
of Festivities begins on Thursday,
September 23, by the opening of the
big itreet exposition and oriental
midway. This exposition continues
without let-up until Saturday night,
October 7. H will be open every dav
from 1 o'clock ia toe afternoon until
Now the postal saving Unks could lytoW7
Years of Experience.
It takes years of experience to know
the shoe business. First, to know uocA
j 0
stock; second, to know good workman
ship; and third, to know what your trade
want. We have had the experience and
know just what our customers like best
and we always aim to have what they
want; and we have realized also that it
don't pay to buy cheap, shoddy shoes. It
seems funny, but it is a fact,nevertheless,
that the less you pay for a shoe, the
more it costa you. Our stock this fall
comprises the leading styles in every
line from the infant to the oldest man or
woman ia Kansas. The best and only
recoi3pcaJat:oqU:a w$ fjej
Ujrnett.Geo StewartandT. E Ilnd.
Smith lives with his faUer, a
widower, on a farm. His disposition
is generally mi!d, but at time., he is
quite violent. It required the btr
vices of four men to to tie birn in a
wagon tub. morning to bring Lim to
town. Ili left side is paitially par
a'yzed. About a year a?o he bad a
"love" affair, which ended in dis
appointment, and since that time he
has been given to brooding, and re
fuses to work. He will be sent to an
asylum, where he will receive proper
medical treatment.
Word has been received in Welling
ton of the death of Mrs. Reuben
Harpham near San Diego, Ca! the
27th of August. Ske died auddenly
in her buggy while driving froa Saa

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