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 V - Investment of postal savings funds

Collection:: Economics Books

108 POSTAL SAVINGS and from the beginning practically all of the funds were deposited in banks. The percentage of the total postal savings de posits which had been redeposited and was held in banks at the end of each half year period since the inauguration of the system is as follows: 5 Date Per cent June 30, 1911 84.4 Dec. 31, 1911 91.1 June 30, 1912 91.8 Dec. 31, 1912 93.9 June 30, 1913 93.2 Dec. 31, 1913 94.3 June 30, 1914 94.2 Dec. 31, 1914 94.5 June 30, 1915 91.5 Dec. 31, 1915 92.8 June 30, 1916 93.8 The postal savings amendment of May 18, 1916, therefore, merely recognized the status quo when it repealed the provision of the act of 1910 authorizing the investment of 30 per cent of the deposits in United States securities. It reenacted the provision authorizing the Board of Trustees to invest all or any part of the postal savings funds, except the 5 per cent re serve fund, in bonds or other securities of the United States, “when in the judgment of the President the general welfare and interests of the 5 The balances on deposit in banks used in these computa tions are those shown by the banks’ books. At all times there is a small amount of postal savings funds in the hands of postmasters.

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