APPENDIX A 
137 
made. No bank in which postal savings funds 
shall be deposited shall receive any exchange or 
other fees or compensation on account of the 
cáshing or collection of any checks or the per 
formance of any other service in connection 
with the postal saving depository system. 
[Sec. 9. That postal savings funds received 
under the provisions of this act shall he de 
posited in solvent banks, whether organized un 
der National or State laws, being subject to 
National or State supervision and examination, 
and the sums deposited shall bear interest at the 
Tate of not less than two and one-fourth per cen 
tum per annum, which rates shall be uniform 
throughout the United States and Territories 
thereof; but five per centum of such funds shall 
be withdrawn by the board of trustees and kept 
with the Treasurer of the United States, who 
shall be treasurer of the board of trustees, in 
lawful money as a reserve. The board of trus 
tees shall take from such banks such security 
in public bonds or other securities, supported 
by the taxing power, as the board may prescribe, 
approve, and deem sufficient and necessary to 
insure the safety and prompt payment of such 
deposits on demand. The funds received at the 
postal savings depository offices in each city, 
town, village, and other locality shall be de 
posited in banks located therein (substantially 
in proportion to the capital and surplus of each 
such bank) willing to receive such deposits under 
the terms of this act and the regulations made by 
authority thereof, but the amount deposited in 
any one bank shall at no time exceed the amount 
of the paid-in capital and one-half the surplus 
of such bank. If no such bank exist in any city, 
town, village, or locality, or if none where such 
deposits are made will receive such deposits on 
the terms prescribed, then such funds shall be 
Banks not to 
receive ex 
change or 
other fees. 
Bracketed 
section in ital 
ics supersed 
ed by section 
2 of the act 
of May 18, 
19 16. See 
pp. 147-150.