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

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter II - The postal savings bank act of 1910

Collection:: Economics Books

26 POSTAL SAVINGS deposits in the community in which the deposit was made.” 6 This latter provision was of course part of the arrangement for keeping “at home” money de posited in the postal savings banks. Funds to meet withdrawals were to be paid by postmasters out of their daily postal receipts. Each postal savings bank, moreover, was to keep a small working balance to its credit at a local or neigh boring bank. The size of this “emergency credit” was to be determined for each postal savings bank by the Board of Trustees and might be increased or diminished at the discretion of the board. “If the emergency credit is insufficient to meet the demands of his office, he [the postmaster] must immediately report the fact to the Board of Trus tees, which reserves the right to defer payment until the necessary funds can be furnished the postmaster.” 7 A five per cent reserve against all deposits was required to be kept by the trustees at the Treasury in Washington. 8 Thus postal savings banks were protected by a fourfold arrangement against dangers arising from sudden runs. In the first place, the post master had the use of his daily cash balance, in 6 Sec- 8- , 7 Postal Savings System Regulations, promulgated by authority of the Board of Trustees, section 16. 8 Postal Savings act, sec. 9.

Access restriction

Copyright

fullscreen: Postal savings

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation