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 IV - Depositors and deposits

Collection:: Economics Books

82 POSTAL SAVINGS satisfactory collateral to pledge for deposits of postal savings bank funds, it was averred, would be mitigated by the facts that the range of se curities allowed by law is very wide and that many banks would be owners of acceptable se curities, while others could borrow such securi ties. Apprehension that large sums of money would suddenly be withdrawn from other banks for redeposit in postal savings banks in times of panic was said to be in some degree lessened by the following considerations: (1) many of the most timid depositors, especially the foreign born, would keep their accounts in the Government banks; (2) banks receiving saving deposits gen erally reserve the right of requiring notice of 30 days or more for the withdrawal of any consider able sums; (3) no one was to be permitted to de posit more than $100 in any one calendar month in a postal savings bank nor to have a deposit balance (exclusive of interest) of more than $500. Since the enactment of the Postal Savings Bank act there has been no national financial crisis of a character to put this question to a severe test. The crisis of August, 1914, was not one that reached the masses of the people. Up to date there have been very few instances recorded in which money has been withdrawn in any con siderable amount from banks, in time of stress,

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