The postal savings system was inaugurated January 3, 1911. In June, 1916, the number of depositors was 602,937 and the balance to the credit of depositors was $86,019,885.00. The denominations of postal notes or certificates are $5.00, $10.00, $20.00, $50.00 and $100.00, and they may be purchased at any postal depository. The interest allowed by the Government is 2 per cent. These deposits may be exchanged in amounts of $20.00 and multiples thereof, for 2½ per cent U. S. Postal Savings, registered or coupon bonds. Postal certificates are made at the Bureau of Engraving and Printing.
Money Order System
Dr. Charles F. Macdonald, who had been greatly interested and had taken an active part in the establishment of the money order system, was upon its inauguration in May, 1864, appointed as superintendent. He is often called the “father of the money order system” and doubtless with some considerable justice. He labored untiringly to make it a success, and upon his death in 1902 it was found that he had bequeathed $2,000 to the United States to be used by the Postmaster General in the improvement of that service, and Congress by act of October 22, 1913, accepted the gift, and the commission appointed by the Postmaster General in furtherance of the act recommended that a vignette of Dr. Macdonald be placed on the money order draft forms. This recommendation was approved by the Postmaster General and carried into effect. Orders issued: 1916, 121,636,818. Amount, $719,364,950.46. Orders paid and repaid: number, 122,379,113. Amount, $720,584,719.58. Net money order revenue for 1916, $6,821,499.75.
Stamp Books
The need for some convenient way of handling postage stamps when more were purchased than immediately required and which need was long felt and operated as a bar against the purchase of stamps in any considerable quantity for occasional use, led the Hon. Edwin C. Madden, Third Assistant Postmaster General, to consider some method of remedying this lack, and on March 26, 1900, after considerable experiment with paper of various kinds to suit the purpose, devised the stamp book now in use of which millions of copies are annually sold. In 1916, the Department issued 28,005,930 of these books and the demand for them is constantly increasing. These books are made in six different kinds—books containing 24 and 96 stamps of the 1-cent denomination; 12, 24 and 48, of the 2-cent denomination, and a book containing both 1-cent and 2-cent stamps, viz., 24 1-cent, and 24 2-cent.
In this connection it may be but just to divide the credit of the origin of the stamp book with Captain Bain of the Bureau of Engraving and Printing, who, it is said, had the project in mind for some time previous to its inauguration as a public accommodation. Mr. Madden is usually given the credit but, as stated, the credit may perhaps be fairly divided, as it is understood that both these gentlemen collaborated in the perfection of the project.
Postal Cards
The postal cards now so generally used at once sprang into public favor when adopted in this country in 1873. Their use has not only been a means of carrying intelligence in easy and convenient form, but has contributed to commercial enterprise in many forms, and many directions as the growing demand for them in the business world amply indicates. The number issued to postmasters in 1916 was 1,047,894,800 and the value of these cards was $10,784,307.00.
Division of Stamps
| Postage stamps and other stamped paper on hand in post offices, July 1, 1915 | $104,035,823.48 |
| Stamped paper charged to postmasters | 287,352,176.84 |
| Sales by postmasters, July 1, 1915, to June 30, 1916 | 277,728,025.20 |
| Stamped paper on hand in post offices, June 30, 1916 | 112,332,714.66 |