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

14 POSTAL SAVINGS The following resolution of the American Bankers Association at its convention of 1908 is fairly representative of the attitude of that as sociation and of numerous State bankers’ associa- Savings Bank bill was before Congress, the committee sent a letter to bankers throughout the country, urging them to oppose the bill through their local newspapers and through their influence with members of Congress from their dis tricts. The letter was accompanied by five exhibits: (1) a copy of the Carter bill; (2) a copy of an address in opposi tion to postal savings banks delivered by a banker who had been a Director of the Mint; (3) a copy of the report in opposition to postal savings banks adopted by the American Bankers Association at its convention in Denver; (4) a copy of an address by a Nebraska banker before the Wyoming Bankers Association and (5) “A condensed synopsis of the arguments against postal savings bank legislation to be used as a basis for newspaper articles.” The extremes to which this propaganda went are illus trated by the following quotations taken from the address referred to above as item 4 : “The postal savings bank, that scheme which has been the dream of well meaning people with philanthropic ten dencies for these many years, in the belief that they were conferring a blessing upon the race, and quickly supported by the great body of the American people, who are inclined to applaud enthusiastically anything done by the Govern ment, may be engrafted upon our financial system. Never asked for by the thriftless whom it is desired to teach thrift, nor by the Slavic or Latin races who are pictured as sending so much money home, . . . never requested as a personal desire by one single individual of our nearly ninety millions, [that scheme] threatens to be enacted into law.” “. . . The Postmaster General naively says: ‘These postal savings banks will not compete in any way with our present banks.’ He thinks he is stating a fact, doubtless, but as well might a highwayman, emptying a repeating

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