Meyer Amschel Rothschild, der Gründer des Rothschildschen Bankhauses

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Monograph

Identifikator:: 1016729413

URN:: urn:nbn:de:zbw-retromon-61429

Document type:: Monograph

Author:: Berghoeffer, Christian Wilhelm http://d-nb.info/gnd/115671919

Title:: Meyer Amschel Rothschild, der Gründer des Rothschildschen Bankhauses

Place of publication:: Frankfurt am Main

Publisher:: Verlag Englert & Schlosser

Year of publication:: 1922

Scope:: 1 Online-Ressource (272 Seiten)

Collection:: Economics Books

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INVESTMENT OF FUNDS 117 Abolition of Postmasters' “Emergency Credits” Each postmaster now as heretofore is in structed to apportion his deposits of postal sav ings receipts among all the banks in his city or town, which are qualified as postal savings deposi tories, substantially in proportion to their respec tive capitals and surpluses. 18 All of the postal savings funds so deposited are to be entered to the credit of the Board of Trustees of the postal sav ings system. Prior to July 1, 1913, however, there was one exception to this latter rule, and that was described as follows in the official regu lations : “[This rule applies except for] an amount which will be specified by the board as an emer gency credit for use by each postmaster in meet ing withdrawals by depositors when he has insuf ficient funds on hand for such purpose. The 18 This system which is apparently essential to the meet ing of two of the postulates of American postal savings— “keeping money at home” and satisfying “competing” banks—often becomes exceedingly cumbersome. Why this is true will be evident when one bears in mind that in most cities and towns' the postal savings deposits each day are small, while in a large proportion of places there are several banks among which the postal savings funds must be appor tioned. As early as 1912, for example, there were 40 quali fied depositories in Chicago, 30 in Philadelphia, 19 in New York, and between 10 and 12 in a number of other cities. Com. & Fin. Chron., A. B. A. Conv. SuppL, Sept. 21, 1912, p. 191.

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