“Creative” ideas could save Postal Service, says Princeton historian

During a discussion on the future of the United States Postal Service held on Capitol Hill Tuesday, Dr. Sheldon Garon, a professor of History and East Asian Studies at Princeton University, said the USPS might experience greater revenues if additional services are implemented at post offices across America.

Garon detailed the long historical trajectory of postal savings by banks worldwide in both developing and developed countries, adding that at one time, the United States had a postal saving system, but that the system was phased out by savings bonds during World War II and the FDIC by 1966.

Many other countries, including Germany, France, Switzerland, and Japan, have surviving postal savings banks as well as additional banking and monetary services....