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 29 withdrawals two somewhat controversial ques tions arose. The first was: should the adminis trative system be highly centralized, as in Eng land and in the Philippines, so that records could t^e kept at the central office, where deposits would be credited and to which application must be made through a postal savings bank for the with drawal of funds; or should the system be less centralized, the local postmaster keeping records °f individual accounts, crediting deposits and paying withdrawals directly? The first plan, which is carried most nearly to its logical conse quences in the Philippines, and which was em bodied in the bill introduced by Senator Carter, April 2, 1908 (S. 6484), was said to have the ad vantage of greater safety, because responsibility f°r large sums of money would not be placed upon postmasters in all parts of the country. 1 he centralized plan would also render it possi ble for a depositor to make deposits to the credit °i his account at any postal savings bank in the country and to withdraw funds through any pos tal savings bank. The second plan, which was adopted, offers the advantages of much prompter service and probably of greater economy in ad ministration, because much of the work which Would otherwise require a large force of clerks at Washington can be done with little extra ex-

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