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

the postal savings bank ACT 27 the second place, he had an elastic “emergency credit” at a neighboring bank; in the third place, there was a five per cent cash reserve kept in the i reasury of the United States ; and, in the fourth place, there was the provision that payment to depositors might be deferred. These safeguards (interpreted in connection with the provisions for the investment of funds to be referred to later 0 ) were more than ample to meet any prob- a ble emergency. In England there is no special reserve requirement for postal savings bank de posits, and the amount of cash kept on hand is Ver y small. 10 This appears to be the rule in Biost other countries. If we consider the practice ln the United States in the matter of savings hank reserves and select for comparison the most conservative class of savings banks, mutual sav- ln gs banks, in the two States where they are oiost numerous, we find that in 1910—the year ln which the Postal Savings Bank act was passed lhe loo mutual savings banks of Massachu setts, with over three-quarters of a billion dollars „Cf. infra, pp. 106 et seq. ion it was 0.12 of one per cent of liabilities; in ' 4, 0.23; in 1905, 0.32; and in 1913, 0.40. The Econo- p Is b * n criticizing the postal and trustee savings banks of n gland, said a generation ago: “Neither of them keeps ^ ny reserve of ready cash and both of them are entirely ependent on the sufficiency or insufficiency of the banking department of the Bank of England.” XXXIII, p. 633.

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