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

DEPOSITORS AND DEPOSITS 89 that the few such limitations which existed in the case of mutual and stock savings banks during the period of this controversy were more liberal than the existing postal savings act, and, with the exception of Massachusetts, more liberal than those proposed in the original Moon bill. 27 2. The second argument was that the restric tions were not only resulting in the keeping in hoards of the millions of dollars of savings of postal savings depositors which were in excess of the $500 maximum, but also of many millions more representing the savings of persons who would deposit nothing in the postal savings banks if they could not deposit all. It has been pre viously pointed out that in 1915 more than 30,- 000 depositors had reached the $500 limit, and that of this number 22,000 were foreign born. The Postmaster-General said in his annual re port for 1913: “A conservative estimate indi cates that more money has been refused by the postal savings system than has been accepted.” 28 Director Weed of the postal savings system in 1913 stated it as his belief that not less than $30,- 27 A table showing by States the statutory restrictions on the amount that savings banks may receive from depositors is published in the Cong. Rec. for Aug. 28, 1914, p. 14,382. Of the 48 States (and the District of Columbia) 36 had no restrictions whatever, and three of the others merely author ized the banks to impose restrictions if they should desire. 28 Page 27.

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