Postal savings

Bibliographic data

Monograph

Identifikator:: 869930397

URN:: urn:nbn:de:zbw-retromon-49420

Document type:: Monograph

Author:: Kemmerer, Edwin Walter http://d-nb.info/gnd/101827717

Title:: Postal savings

Place of publication:: London

Publisher:: Humphrey Milford

Year of publication:: 1917

Scope:: 1 Online-Ressource (VIII, 176 Seiten)

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter IV - Depositors and deposits

Collection:: Economics Books

96 POSTAL SAVINGS (H. R. 7967) had no reference to the provisions of the bill raising the limits on deposits. In the next session of Congress a new bill providing for the raising of the limits was introduced by Repre sentative Moon. By this time the Postal Savings Bank Legislative Committee of the Savings Bank Section of the American Bankers Associa tion had withdrawn its opposition to the legisla tion. 41 With the bankers’ organized opposition removed, the proposed legislation had fairly clear sailing, and the bill (H. R. 562) became law by the signature of the President on May 18, 1916. The new act repealed the provision of the organic law which imposed a limit of $100 on the amount that could be deposited in one calendar month, raised the interest bearing limit from $500 to $1,000, and provided “that the Board of Trustees may, in their discretion, and under such regula- 41 The committee reported to the Savings Bank Section of the American Bankers Association, September 7, 1915: “It is understood that the Sixty-fourth Congress will enact legislation raising the limit of interest bearing deposits to $1,000 and giving discretionary powers to the Board of Trustees to accept an additional $1,000 without interest. From the knowledge acquired by your committee in its efforts to have the original Moon bill amended, and from a frank interchange of views with the Director of the postal savings system, we feel that the desire of the trustees for this increase of authority is not unreasonable and will not work any hardship upon our savings banks. . .” Com. & Fin. Chron., A. B. A. Conv. Suppl., Sept. 18, 1915. p. 181.

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