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 III - Administrative organization and selection of post offices for postal savings banks

Collection:: Economics Books

ADMINISTRATIVE ORGANIZATION 53 Selection of Depository Post Offices The postal savings system was inaugurated in January and February, 1911, by the opening of one postal savings bank in each State and Terri tory. From that time forward the work of ex tending the system to other places proceeded rapidly. By the end of the fiscal year 1913 banks had been opened in 12,151 post offices, including all Presidential offices and about 4,000 offices of the fourth class, also in 667 branches and sta tions. This fiscal year showed the high water mark in the number of banks. The Department, however, had moved too fast in opening new banks, particularly in fourth class post offices. It was pointed out by Representative William H. Stafford of Wisconsin, 4 in Congressional debate, that of the 4,000 fourth class post offices 3,000 either had no deposits at all or deposits of only one dollar. On the fee basis then used for com pensating postmasters for their services in postal savings work, in these 3,000 offices average com pensation allowed was 27 cents a year. 5 Yet the auditors of the Post Office Department kept a separate account with each of these offices, and 4 Cong. Rec., Dec. 15, 1913, p. 928. 5 Representative Madden of Illinois, a member of the House Committee on Post Office and Post Roads, Cong. Rec., Dec. 10, 1913, p. 654.

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