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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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 17 Losses to Depositors from Bank Failures The immediate occasion of the last active movement for a postal savings bank system in the United States, as we have seen, was the losses and inconveniences arising from bank failures and from the suspension of cash payments in the panic of 1907. Naturally, therefore, the demand for greater safety of savings deposits played an important part in the discussion. The advocates of postal savings banks cited figures showing the number of national bank failures and the losses involved, and similar fig ures for savings bank failures in certain States. They made much of the large amounts involved and of the hardships in individual cases. On the other hand, the opponents of postal savings banks usually dealt with percentage figures rather than with absolute amounts, and showed that for re cent years the average losses, in terms of per centage of the amounts on deposit, were almost infinitesimal. The figures cited for bank failures, so far as they related to savings deposits, were so incom plete as to be of doubtful value in measuring the extent of the losses. 30 Those given by the Comp- 30 Commenting upon this subject, Miss Florence Kelly recently said: “It is one of the gross sins of omission of our Government (State and Federal) that we have no trust-

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