Postal savings

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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 VI - Conclusion

Collection:: Economics Books

CONCLUSION 131 some period of readjustment. The type of de positor who uses the postal savings system is not the one who will be induced to withdraw deposits in order to invest the funds in securities yielding a higher rate of interest. To accomplish much in the direction suggested would require an amendment to the Postal Savings act. The fact that savings banks, with few exceptions, are not members of the Federal reserve system is not a strong argument against this proposal, because there is no sound public policy in encouraging them to join as active members. 1 The Federal reserve system is primarily a system for com mercial banks. Could not our best grade savings banks wisely be put on an equal footing, at least, with commercial banks which are members of the Federal reserve system, with regard to qualifying as depositories for postal savings funds? 1 The Federal Reserve Board has recommended to Con gress an amendment to the Federal reserve act authorizing mutual savings banks not having a capital stock to become associate members of the Federal reserve system, under cer tain prescribed conditions. It is a very desirable amend ment. Federal Reserve Bulletin, Feb. 1, 1917, p. 101.

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