118 
POSTAL SAVINGS 
amount thus fixed will be deposited by the post 
master to bis official credit in one of the deposi 
tory banks especially designated for the purpose, 
to be subject to his official check as postmaster 
for the purpose mentioned only, and will be 
maintained by the postmaster at the amount 
specified by the Board of Trustees, by means of 
deposits from his daily postal savings receipts. 
. . . The amount of emergency credit may be 
added to the regular quota assigned to a deposi 
tory bank, . . . and shall be subject to interest 
payment. . . .” 19 
That the creation of such an emergency credit 
account in the name of each postmaster at whose 
office there was a postal savings bank was mak 
ing a system already complex doubly so is evi 
dent. It gave rise to about 13,000 extra accounts 
and involved “endless correspondence, bookkeep 
ing, and interest computing details.” 20 
The “emergency credit” and all the individual 
postal savings accounts with banks in the names 
of postmasters were done away with by the new 
regulations put in force July 1, 1913. In place 
thereof the expedient was adopted of designating 
19 Regulations for the Guidance of Banks Qualifying as 
Depositories of Postal Savings Funds, etc., issued by au 
thority of the Board of Trustees, 1911, p. 6. 
20 Carter B. Keene, The Postal Savings System, Com. & 
Fin. Chron., A. B. A. Conv. Suppl., Oct. 18, 1918, p. 196.