30

POSTAL  SAVINGS

pense  by  local  postmasters.  A  high  degree  of
centralization  in  such  matters  is  much  more  difficult ­
  in  a  country  of  great  distances  like  the
United  States  than  in  a  country  like  England.
Even  in  England,  moreover,  the  extreme  centralization ­
  of  the  postal  savings  bank  system  is  breaking ­
  down.  Since  1905  it  has  been  possible  in
England  to  withdraw  on  demand  from  the  local
office  sums  not  exceeding  one  pound. 12
The  second  controversial  question  with  reference ­
  to  deposits  and  withdrawals,  which  is  closely
related  to  the  first,  was  the  question  of  the  form
in  which  the  depositor’s  account  should  be  kept—
whether  by  pass  book  or  by  some  kind  of  certificate ­
  of  deposit.  In  all  other  countries,  so  far  as
the  writer  knows,  the  depositor’s  account  is  evidenced ­
  to  him  in  the  form  of  a  pass  book,  in
which  debits  and  credits  are  entered  and  balances
struck.  This  method  was  proposed  for  adoption
in  the  majority  of  the  postal  savings  bank
schemes  which  received  the  serious  attention  of
Congress.  It  was  proposed  in  the  hill  which  became ­
  law,  as  this  hill  originally  passed  the  Senate.
The  other  plan,  that  of  evidencing  the  account
by  some  sort  of  certificate  of  deposit,  was  urged
for  the  United  States  on  the  ground  that  it  would
be  simpler,  easier  and  more  economical  of  admin-12
  Sen.  Doc.  No.  658,  61  Cong.,  3  Sess.,  p.  25.