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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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter IV - Depositors and deposits

Collection:: Economics Books

DEPOSITORS AND DEPOSITS 99 Table 4 Growth of Postal Savings Deposits, 1911-1917 Fiscal year ending June 30 Amount Percentage increase over preceding date 1911 1919 1913 1914 1915 1916 June 1, 1917 (000 omitted) 677 90,937 33,819 43,444 65,685 86,090 131,500 9900 67 98 51 31 96 Interest Paid on Postal Savings Deposits The act of 1910 provided that “interest at the rate of 2 per centum per annum shall be allowed and entered to the credit of each depositor once in each year, the same to be computed on such basis and under such rules and regulations as the Board of Trustees may prescribe; but interest shall not be computed or allowed on fractions of a dollar.” 44 Although interest rates prior to the European War ruled higher in the United States than in most advanced countries, this rate of 2 per cent is the lowest one to be found in any postal savings system in the world. In framing rules and regulations concerning the payment of interest to depositors the Board of Trustees has been very exacting. It early 44 Sec. 7.

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