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

POSTAL SAVINGS fixed permanently, but it is determined from time to time by the earning power of the de posits.” In the discussions in this country, both in Congress and outside, it seems to have been generally taken for granted that the rate of in terest would be fixed by law. This plan appears to be the more reasonable one, when we consider that the postal savings bank was looked upon primarily as an institution for the encourage ment of small savings—an institution which would serve as a sort of feeder to other savings banks and to other forms of investment where the interest yield would be higher. Furthermore, there were obvious political objections to placing in the hands of a politically partisan body like the Board of Trustees the responsibility of deter mining from time to time the rate of interest to be paid on the savings of depositors who pre sumably would soon be numbered by millions. The second phase of the interest question was that of the rate itself. There were several ob vious reasons for a relatively low rate of interest: (1) It was generally admitted that the postal savings bank system should be self-supporting and that the investment of its funds should be absolutely safe. This meant that the interest rate paid to depositors must be lower than that realiz able on high grade investments by a percentage

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