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

Collection:: Economics Books

MISMANAGEMENT AND OTHER TROUBLES 67 deterioration of the governing body. The origi- nal board of trustees was composed principally of men of high character, several of them noted for business ability, and as long as the central office was in New York a sufficient number at- tended the meetings to keep the business going properly. But after the removal of headquarters to Washington many trustees found it impossible to attend the meetings and thus through non- service most of the better members were in time eliminated. The honest and eflicient trustees, like Ketchum of New York and Stewart of Baltimore, were opposed to the management of the bank after headquarters were removed to Washington, but as they were unable to reform it they resigned. Ketchum was one of the last of the trustees who took an intelligent and help- ful interest in the bank, but he finally resigned as a protest against the Seneca loan business.? Since it was difficult to fill the vacant places on the board of trustees with men of standing and experience, it came about that the majority of those elected were put in merely to fill up the lists. They had slight capacity, frequently no business connections, and but little property; the main qualification was to have some kind of a record as an abolitionist, or as a Freedmen’s Bureau official, or as a friend of the freedmen. Too many of them took little interest in the business. Queer characters were put in as “dum- mies,” and it was found later that some of them had never read the act of incorporation of the bank. 18See below, p. 77.

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