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 I - The movement for establishment of a postal savings system in the United States

Collection:: Economics Books

ESTABLISHMENT OF THE SYSTEM 5 of rural communities and redeposit the same while under government charge in the banks of Wall Street, thus depleting the circulating me dium of the producing regions and unjustly fa voring the speculative markets.” The Prohibi tion Party platform advocated “the establish ment of postal savings banks and the guaranty of deposits in banks”; the Populist platform demanded “that postal savings banks be insti tuted for the savings of the people”; and the Independence League platform declared, “Gov ernment postal savings banks should be estab lished where the people’s deposits will be secure, the money to be loaned to the people in the locality of the several banks at a rate of interest to be fixed by the Government.” With such unanimity of opinion in all the political parties, the question of postal savings banks did not figure prominently in the campaign. There was, how ever, considerable discussion of the proposal for guaranteeing bank deposits. After the election some of the leaders of the Republican party, particularly President Taft, who had for years been a believer in postal sav ings banks, 9 began to urge upon Congress com- 0 It was by the direction of Mr. Taft, when he was Gov ernor of the Philippines, that the author drafted the bill which became the Philippine Postal Savings Bank act of 1906.

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