Postal savings

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Monograph

Identifikator:: 882692321

URN:: urn:nbn:de:zbw-retromon-5020

Document type:: Monograph

Author:: Agahd, Konrad http://d-nb.info/gnd/116256575; Schulz, Max von http://d-nb.info/gnd/1033198951

Title:: Gesetz betreffend Kinderarbeit in gewerblichen Betrieben

Edition:: Zweite Auflage, neub bearbeitet

Place of publication:: Jena

Publisher:: Verlag von Gustav Fischer

Year of publication:: 1904

Scope:: 1 Online-Ressource (X, 168 Seiten)

Digitisation:: 2017

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Document type:: Monograph

Structure type:: Contents

Collection:: Economics Books

THE POSTAL SAVINGS BANK ACT 35 Investment of Postal Savings Funds The most difficult problem which Congress had in formulating its postal savings bank plan in 1910 was that of the investment of the deposited funds. In most countries postal savings funds are invested in the public debt, but such a dispo sition of them in the United States was out of the question because the United States public debt was small and was not looked upon as permanent, and because most of it was already tied up as security for national bank note circulation. There was a widespread belief both in Congress and outside that any feasible plan for the investment of postal savings funds must meet five require ments: (1) The investments must be safe. (2) Either all or a substantial proportion of them must be payable on demand since the postal savings deposits were to be demand deposits. (3) The investments must yield a sufficient rate of interest to pay the interest due to depositors and the expenses of administration. (4) The funds must be kept for the most part in the local communities where the deposits are received. The idea of the desirability of keeping “the money at home” was almost a fetish both among the advo cates and among the opponents of postal savings

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