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

118 POSTAL SAVINGS amount thus fixed will be deposited by the post master to bis official credit in one of the deposi tory banks especially designated for the purpose, to be subject to his official check as postmaster for the purpose mentioned only, and will be maintained by the postmaster at the amount specified by the Board of Trustees, by means of deposits from his daily postal savings receipts. . . . The amount of emergency credit may be added to the regular quota assigned to a deposi tory bank, . . . and shall be subject to interest payment. . . .” 19 That the creation of such an emergency credit account in the name of each postmaster at whose office there was a postal savings bank was mak ing a system already complex doubly so is evi dent. It gave rise to about 13,000 extra accounts and involved “endless correspondence, bookkeep ing, and interest computing details.” 20 The “emergency credit” and all the individual postal savings accounts with banks in the names of postmasters were done away with by the new regulations put in force July 1, 1913. In place thereof the expedient was adopted of designating 19 Regulations for the Guidance of Banks Qualifying as Depositories of Postal Savings Funds, etc., issued by au thority of the Board of Trustees, 1911, p. 6. 20 Carter B. Keene, The Postal Savings System, Com. & Fin. Chron., A. B. A. Conv. Suppl., Oct. 18, 1918, p. 196.

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