Nov. 9.
Oy July 1, 1919, the Post Ottice Savings Bank system wag inaugurated in China, and to-day the report for the first half-year's working of the enterprise has been issued. This is a document of considerable importance, showing as it does the slow growth which attends the inception of such schemes in a conservative country such as this, but at the same time giving much encouragement. Lhe Post Oflice Savings Bank as a means of promoting thrift among the people at large first gained recognition in European countries, and from there was copied by Japan. Then the best minds in China grasped its possibilities, and President Hsu Shih-chang, while in charge of the Yuchnanpu, considered its adoption'. The report points out that in preparation for its introduction he, had well-educated students selected to be sent to Europe for a special training. Plans were prepared for the: launching of the project, but there were difficulties in the way, one of which, the report points out, was the lack of a uniform currency, while, inevitably, internal dissension militated against fulfiiment. Finally, however, these difficulties were surmounted, and in the seventh year of the Republic the plans were completed, and as stated, in July, 1919, the' Post Office Savings Bank became' an accomplished fact A beginning was made in a) modest way, eleven district head offices beings opened. Four
Text read from the printed page and cleaned; old type leaves the occasional error.