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

THE POSTAL SAVINGS BANK ACT 41 farther than others; but the so-called Smoot amendment appeared to be the only one which could at the same time accomplish the purpose of making the bill constitutional and command a majority vote of the Senate. This amendment provided: “That when, in the judgment of the President, war or any other exigency involving the credit of the Government so requires, the Board of Trustees may withdraw all or any part of said funds from the banks and invest the same in bonds or other securities of the United States.” 27 Senator Root said: “I deem it my duty, in governing my own conduct and in expressing my opinions regarding this bill to my fellow Sena tors, to say that, without the amendment that I introduced or some one of these other amend ments embodying the idea of investment in Gov ernment bonds, the bill is not within the consti tutional power of Congress. I do not think that as it now stands it can be brought within the just description of any means necessary and appro priate or adapted or suitable or tending toward the exercise of any of the powers conferred.” Senator Root thought that the Smoot amend ment, although not satisfactory to him, would “furnish probably a constitutional basis for the 27 Ibid., p. 2720.

Access restriction

Copyright

fullscreen: Postal savings

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation