158 
Interest . on 
postal savings 
bank deposits. 
APPENDIX B 
savings bank in the Philippine Islands and de 
posited as if they were money of the amount 
represented by the face value of the stamps, and 
the procedure for making such deposits shall be 
the same as that provided for deposits of money, 
in section eight of this Act. The chief of the 
postal savings bank division shall cancel all 
stamps received for deposit at the time the de 
posit entry is made to the depositor’s credit. 
(d) Employees of the Postal Savings Bank, 
and all persons intrusted with the handling or 
custody of postal savings bank stamps, whether 
said stamps shall have been canceled or not, 
shall be held responsible for them in the same 
manner and to the same extent as if they were 
Insular money of a value equal to the face value 
of the stamps. 
(e) Uncanceled postal savings bank stamps' 
shall be redeemable at par in postage stamps at 
the office of the chief of the postal savings bank 
division. 
Sec. 10. Interest at two and one-half per 
centum per annum shall be allowed on all de 
posits in the Postal Savings Bank until practical 
experience shall demonstrate that a higher rate 
can safely be guaranteed, subject to the follow 
ing limitations : 
(a) In the reckoning of interest, the day upon 
which the deposit was entered to the credit of 
the depositor upon the books of the chief of the 
postal savings bank division shall be considered 
as the date of the deposit. 
(b) Money to the credit of any depositor in 
excess of one thousand pesos shall not bear in 
terest, except in the case of deposits made by 
charitable and benevolent societies as provided 
in paragraph (c) in section three, in which case 
deposits in excess of two thousand pesos shall 
not bear interest.