Inauguration of New Directorate General Shanghai, Mar. 15.
The recently created Directorate General of Postal Remittances. and Savings Banks at 6 Foochow Road, was formally inaugurated this morning by His Excellency, Wang Peh-chun, the Minister of Communications. The opening ceremony was simple but impressive and was attended by a large number of Jocal bankers and business, men. The building was crowded with visitors and depositors and. the counter staff was kept busy through. out the day. It is learned that over 1,000 accounts were' opened, that the. total amount of deposits received was considerable, and that congratulatory cables were received from other Postal Administrations.
The inauguration of the new Directorate General of Postal Remittances and Savings Banks marks the beginning of a new epoch in the history of China's Postal Administration. In other countries Postal Administration has long been divided into two branches—one for controlling mail services and the other for controlling Postal Savings Banks, money orders, etc.
The establishment of the new directorate General is therefore merely an outcome of the Government's policy to follow universal Practice in ensuring concentrated attention on and efficiency in this particular branch. This step has iso been recommended by Mr. Liu Shu-fan, the present Director General of this institution, who travelled extensively in foreign countries for several months last year and thoroughly studied their Postal Administrations.
"There are one Director General and two Ca-Directors General. Un. der them there are five secretaries General Affairs, Business, Savings, ReMittances' and Accounting. 'The' Ca-Directors General are Messrs. K. Shen and D. MeLorn.
The constructive work of the new stitution is awaited with par jcular interest.
Mr. Liv, in the course of ment, remarked:
"To those who are familiar with the progressive and constructive spirit of the Nationalist Government, this new institution does not come as a surprise.
Iv may be of interest to note that the Directorate General of Postal Remittances and Savings Banks has 2125 branch offices scattered throughout the country, With such a large number of branches, together with a staff composed of highly educated men and experienced bankers, the. new Direetorate will assuredly be in n position to facilitate the movement of capital and help to solve-the present {dificult exchange problem.
Furthermore, the med of a uniform currency has long been felt in this country, and it is"generally admitted that no institution in a better position to assist in bringing this about.
"Many members of th staff are from the Postal Administration; their admirable services alw: merit high praise, and they will certainly" "contribute much to the future success of.the new institu.
Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.