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 31 istration and less open to mistakes and to fraud. 13 After considerable discussion of the comparative merits of these plans, Congress decided to leave the decision of this question to the Board of Trustees. 14 Rate of Interest The question of the rate of interest to be al lowed to depositors resolved itself into two ques tions : How should the rate of interest be deter mined and what rate should be adopted? Taking up these questions in their order, it may be noted that, while in most countries the rate is fixed by law, in some, as for example in Italy, in Tasmania and in the Orange River Colony, the rate is fixed by administrative author ity and varies from time to time according to the earnings realized on the postal savings banks’ in vestments. Hamilton, 15 commenting upon the Italian method, says: “In fixing the rate of in terest to be paid to depositors, the Italian Gov ernment has followed the true principle of sav ings bank management, that is, the rate is not 13 It was also advocated on the ground that certificates ttdght serve as a medium of exchange in times of panic and give greater elasticity to our currency. Cf. Albany Law Journal, LXX, pp. 346, 349. 14 Postal Savings Bank act, sec. 5. Savings and Savings Institutions, p. 370.

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