Unfortunately, Woodrow Wilson won that election and morphed the plan into the Federal Reserve and the Income Tax. There are scores of podunk little towns which cannot support a post office but could support a post office and a postal bank. Since it seems impossible to close post offices or downsize postal workers, giving them more work might be a viable option.
In return, they would have to agree to more competition such as working weekends and evening hours and dropping their opposition to letting private non-union entities open postal operations such as is currently done on a limited basis in the Staples stores.
Libs like the idea for several reasons.
- It would provide banking services to even the poorest Americans, and hence, they hope, run payday loan stores out of business.
- They can offer basic services at low or zero fees, and put lots of pressure on the BIG EEEEEEEEVIL BANKS.
- It could become a conduit for stimulus, as the Fed could simply wire a deposit directly into the account of every American with an account there (yes, they have actually discussed this).