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 II - The postal savings bank act of 1910

Collection:: Economics Books

M POSTAL SAVINGS that this was a dangerous power to confer upon an administrative board of political appointees; that political motives would dictate the selection of places for postal savings depositories ; and that the banking community, with its powerful and organized opposition to postal savings banks, would be able to bring sufficient pressure on the Board of Trustees to prevent it from establish ing depositories in important places. ' Deposits and Withdrawals The limitations fixed by the law with reference to the character of deposits and the persons from whom deposits were to be receivable conformed fairly closely to the practices prevailing in other countries. Accounts could be opened by any person ten years of age or over, but no person could have more than one postal savings account at one time. Deposits could be made only in sums of a dollar or a multiple thereof; no one was to be permitted to deposit more than $100 in any one calendar month ; and the balance to the credit of any one person could not exceed $500, 5 Opponents of the bill called attention to the fact that the chairman of the Board of Trustees, the Postmaster- General, was the head of a Department which had a large amount of political patronage, and that the Postmaster- General of that time had but recently been chairman of the Republican National Committee. ç-rsr* 58

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