Speech #610194277

In the United Kingdom now there are over 11.000.000 depositors. with deposits in the postal savings banks amounting to between $700.000.000 and $SOO.000.000. or an average of over $70 apiece. In the Philippine Islands. under our control. we have a practical illustration of the benefits that accrue to the people who otherwise might not save their earnings. In 1909 there were 9.970 accounts. with deposits as follows: Americans --------------------------------------3.485 Filipinos ---------------------------------------5. 857 Europeans ----------------------------------------337 Asiatics -----------------------------------------230 Society accounts ------------------------------------ 1 Total ------------------------------------9.970 All of these depositors had a total of $757.157 to their credit in postal savings banks. or an average of $75.95 each. The results of the experience in the European countries that have tried the system of postal savings banks prove clearly that such a system has been wise and beneficial to all the people. but particularly to the people of small incomes. Mr.