DEPOSITORS  AND  DEPOSITS

97

tions  as  such  board  may  promulgate,  accept  additional ­
  deposits  not  to  exceed  in  the  aggregate
$1,000  for  each  depositor,  hut  upon  which  no  interest ­
  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  obtain ­
  any  official  explanation  of  their  inaction.
Director  Keene  of  the  Division  of  Postal  Savings, ­
  referring  to  the  matter  in  an  address  at  the
American  Bankers  Association  Convention,  September ­
  26,  1916,  merely  said,  “The  Board  of
Trustees  has  not  thus  far  accepted  the  non-interest ­
  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  amendment ­
  as  follows:  “By  the  terms  of  the  amendment ­
  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.