The bill relating to the postal savings bank provides for the repeal of the Hawaiian law establishing that bank. and directs the Secretary of the Treasury to pay the amounts on deposit in the postal savings bank in Hawaii to the persons entitled thereto. terminating the interest on all deposits on and after July 1. 1899. and forbidding further deposits after that date. This institution was established in 1884 to encourage the deposit of small savings at interest. with the security of the government for repayment thereof. and was opened for business July 1. 1886. On August 11. 1898. the amount due to 10.555 depositors. classified by nationalities. was as follows: Americans ---------------------------------------- 602 British ----------------------------------------------- 526 Germans ---------------------------------------- 329 Hawaiians ..------------------------------------- 1.291 Portuguese ..-------------_------------------------- 495 Sundry nationalities -------------------------------- 221 Chinese under the board of immigration ------------- 7.091 1 A total of --------------------------------- --- 10.555 Amounting to ------------------------------------- $836. 297.34 And to 68 special depositors for sums exceeding $500 the sum of ----------------------------------- --- 77.750.00 Being a total of ------------------------------- 914.017.34 On these deposits the rate of 4i per cent per annum is paid by the government of the islands. and interest at this rate is credited to the several accounts on December 31 every year. and is a charge on the current revenues of the government. Deposits up to $500 only are credited with interest. Any deposit of three months standing may. at the option of the depositor. be withdrawn and exchanged for a 520 government bond. with interest at 4 per cent.
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immigration