90 
POSTAL SAVINGS 
000,000 in postal savings deposits had been 
turned away because of the $500 limit. "Sums 
as large as $25,000,” said he, "have been brought 
to us in old tea kettles, stockings, and what not 
else in the way of queer receptacles, and when we 
had to refuse to receive more than $500 it went 
back into the nooks and corners, cellars, and un 
derground, where it came from.” 29 Third As 
sistant Postmaster-General Dockery told the 
writer that it was the testimony of postmasters 
throughout the country, over and over again, 
that if a foreigner could not deposit his entire 
savings at once he commonly refused to deposit 
any. 30 
3. A third argument related to the expenses 
of administering the system. During the first 
two years the postal savings system was run at a 
heavy loss to the Government—a loss computed 
at about $1,000,000 down to December, 1913 ; 31 
but since that time the records of the system have 
shown a net profit for each year. The Post Of 
fice Department took the position that if the 
limitations on deposits could be removed or 
greatly lightened, and particularly if non-interest 
bearing deposits could be authorized, the deposits 
29 Quoted in the New York Evening Post, Feb. 18, 1913. 
30 Cf. on this subject The U. S. Post. Savs. Sys., pp. 
41-51. 
81 Cong. Rec., Dec. 15, 1913, p. 923.