Postal savings

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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 39 and declared purpose of the proposed legislation. Nor could such a power be brought by implica tion under any power expressly conferred upon the Federal Government. Under the coinage clause, he said, Congress has the power and the duty to provide the country with an adequate circulation, but when it “has exercised that power and performed that duty and the money so coined or issued has passed into the hands of the indi vidual citizen, it is his private property and he has a right to do whatever he pleases with it.” 24 With reference to the claim that the right to establish a postal savings bank system was im plied in the commerce clause of the Constitution, Senator Bailey said : “Banking is not commerce ; but ... if it were admitted that the banking business is commerce within the meaning of the Constitution, such an admission would not justify this bill, because the only commerce which is sub ject to Federal regulation is a commerce among the several States, or with Indian tribes, or with foreign nations. ... To receive money at the post office and to deposit it in a bank situated in the same community is not commerce at all; and certainly it is not interstate or foreign com merce.” 25 24 Ibid., March 3, 1910, p. 2689. 25 Ibid., pp. 2687, 2688.

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