Postal savings

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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 II - The postal savings bank act of 1910

Collection:: Economics Books

40 POSTAL SAVINGS With reference to the claim that the right of Congress to create a postal savings bank was im plied in the power conferred by the Constitution to establish post offices and post roads, Senator Bailey said: "There is absolutely no pretence that the deposit of private money with a post master, and the redeposit of it by him in a bank, has, or is intended to have, any connection with the use of the mails. It is a fiscal operation pure and simple, without the remotest relation to a post office or a post road as they were understood by the fathers when they framed our Constitu tion or as they are understood by us today. The Congress of the United States has just as much right and power to require our postmasters to act as commission merchants as it has to require them to act as bankers.” 26 The constitutional status of the hill seemed weak even to many of its proponents, and a num ber of amendments were proposed calculated to give it a firmer position. These amendments for the most part undertook to make the bank more of an instrument for the borrowing of money by the Federal Government, and thereby to bring it more fully under the constitutional power "to borrow money on the credit of the United States.” Some of these amendments went much 26 Cong. Rec., March 3, 1910, p. 2688.

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