DEPOSITORS AND DEPOSITS 
97 
tions as such board may promulgate, accept ad 
ditional deposits not to exceed in the aggregate 
$1,000 for each depositor, hut upon which no in 
terest shall be paid.” 
Notwithstanding the efforts that were made 
by the post office authorities to have this latter 
permissive legislation passed, and the strong case 
that was made in its favor, the trustees have not 
yet seen fit to exercise the authority therein 
granted to receive non-interest bearing deposits 
up to $1,000. The writer has been unable to ob 
tain any official explanation of their inaction. 
Director Keene of the Division of Postal Sav 
ings, referring to the matter in an address at the 
American Bankers Association Convention, Sep 
tember 26, 1916, merely said, “The Board of 
Trustees has not thus far accepted the non-inter 
est bearing accounts.” 42 
The Third Assistant Postmaster-General in his 
annual report for 1916 (dated September 30), 
after saying that the previous limitations “greatly 
retarded the growth of the system and restricted 
the scope of its usefulness,” refers to the amend 
ment as follows: “By the terms of the amend 
ment a person may now deposit any number of 
dollars, and at any time, until the balance to his 
42 Com. & Fin. Chron., A. B. A. Conv. Suppl., Oct. 14, 
1916, pp. 191-192.