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 101 of irony in the following quotation from the 1914 annual report of the Third Assistant Postmaster- General: “Interest on deposits [of postal sav ings funds] in banks is computed on the basis of average daily balances. . . . Interest on postal savings certificates is computed on the basis of deposits which have remained for one or more full years from the first day of the month fol lowing the month in which the deposits were made.” 46 Furthermore, it has been ruled that a depositor who moves away from the town or city in which his postal savings account is held cannot transfer his account to his new place of residence, before the end of his “deposit year,” without forfeiting his accumulated interest. He can make the transfer only by closing his old account, and opening an entirely new one at his new place of residence. 47 46 Report, p. 6. 47 Third Assistant Postmaster-General Dockery, in a let ter to the writer on this subject, dated February 12, 1917, said:“. . . . I have to inform you that no provision is made in the postal savings regulations for the transfer of accounts between depository offices. Provision is made, however, for the transfer of accounts between stations of a depository post office, or between a station and the main office. If a depositor removes to a distant locality, he is not compelled to transfer his account for he may make deposits and with drawals by mail for such time as suits his pleasure. It is not necessary, therefore, that he should forfeit accumulated

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