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

it 44 POSTAL SAVINGS in bonds or other securities of the United States, but only by direction of the President, and only when, in his judgment, the general welfare and the interests of the United States so require.” Postal savings funds deposited in banks were to bear interest at a rate of not less than 2^ per cent. The provision in the Senate bill, that banks might give indemnity bonds as security for de posits of postal savings bank funds, was cut out, and in its place was inserted the provision: “The Board of Trustees shall take from such banks such security in public bonds or other securities, supported by the taxing power, as the board may prescribe, approve, and deem sufficient and necessary to insure the safety and prompt pay ment of such deposits on demand.” These provisions for the regular or contingent purchase of government securities were sup- offices in each locality were to be deposited “in banks located therein (substantially in proportion to the capital and sur plus of each such bank) willing to receive such deposits under the terms of this act and the regulations made by authority thereof. ... If no such bank exist in any city, town, village, or locality, or if none where such deposits arc made will receive such deposits on the terms prescribed, then such funds shall be deposited under the terms of this act in the bank most convenient to such locality. If no such bank in any State or Territory is willing to receive such deposits on the terms prescribed, then the same shall be deposited with the treasurer of the Board of Trustees, and shall be counted in making up the reserve of five per centum.” Sec. 9, Post. Sav. act.

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