Camden Courier-Post – October 15, 1935
Mrs. Hyland Cites Gain of $78,827 Over Last Year of Hoover Regime; Says Records Are Barometer of Trade Activity
By Oscar Magnuson
An outstanding illustration of business recovery in Camden brought about by the methods placed in operation by President Roosevelt is contained in the figures of business done through the Camden post office.
Postmaster Emma E. Hyland, in making public the business of the various departments of the office for the last several years said:
“The figures show unmistakably the progress which has been made in business in Camden and the surrounding territory, all of which is directly attributable to the administration of President Roosevelt and the grasp which he has on the general situation, looking toward betterment for everyone.
“Not only do the figures of the busines [sic] done furnish a picture which is irrefutable,” continued Mrs. Hyland, “but the business people with whom I have come in contact as postmaster have on many occasions stated that it is their honest belief that prosperity is here to stay.”
Mrs. Hyland pointed to the gross receipts of the post office for the year 1932, the last year of the Hoover administration. “in that year they dropped to $683,138.49,” she declared, “and immediately after President Roosevelt took office and started to place his ideas in effect, they began to rise. In the year which ended with June 30, the figures for which have been compiled, gross receipts showed a jump of $78,827.37.
“That,” continued Postmaster Hyland, “is the largest total for any year int eh last five fiscal years of the Camden postoffice, which certainly shows how business has improved in Camden.
“While the gross business of the entire office is a good indication, I think that for out and out confidence in the administration of President Roosevelt, there is nothing better anywhere than the record which has been marked up for the amount of money and the number of accounts which have been opened in the postal savings funds department of the Camden post office.
“The large majority of the accounts in that division of our businesses are small—they represent the small wage earner who wants to store away some funds for the future, and I think the growth in this department’s business is the finest tribute that a President of the United States could ever have of the confidence bestowed in him, the absolute proof that the acts of his administration are approved and that the feeling of trust, reliance and dependence are wrapped up in the President.
Huge Gains in Deposits
“Also, the increase in this business shows that general business among the industries and anywhere else where people work has improved, else without that work people would not be employed and could not deposit money in savings accounts.
“In 1931 at the end of the fiscal year—that was under Hoover—there were 675 accounts in the postal savings division with a balance of $118,975 to the credit of the depositors.
“Now here is what happened after President Roosevelt took over the reins of the federal government. By the end of June 1933, the number of accounts rose to 2429, an increase of 1754 depositors. But still that doesn’t tell the story of the confidence abroad in the land. The amount on deposit to the credit of those 2429 depositors had risen by the end of the June 1933 fiscal year to $1,318,613, a gain of $1,199,638.
“And another thing which the figures of savings show, is the return of confidence, a confidence that had been sorely shaken during the last days of the Hoover administration, when banks were failing and people generally were hoarding all of the money which they could get their hands on.
“Each year since President Roosevelt took control, there has been a continued upward surge. At the end of June 30 this year the number of accounts stood at 4209, an increase of 3534 over the 1931 low mark of 675. At the same time the total deposits were $1,657,505, or an increase of $1,538,530 as compared with 1931. Both of these figures, too, are the best in this department that the Camden post office has had in the last seven years.
“President Roosevelt’s administration, judged by the Camden post office figures alone, as met with approval in this area—business shows that and business speaks from the standpoint of business done.”