M 
POSTAL SAVINGS 
that this was a dangerous power to confer upon 
an administrative board of political appointees; 
that political motives would dictate the selection 
of places for postal savings depositories ; and that 
the banking community, with its powerful and 
organized opposition to postal savings banks, 
would be able to bring sufficient pressure on the 
Board of Trustees to prevent it from establish 
ing depositories in important places. ' 
Deposits and Withdrawals 
The limitations fixed by the law with reference 
to the character of deposits and the persons from 
whom deposits were to be receivable conformed 
fairly closely to the practices prevailing in other 
countries. Accounts could be opened by any 
person ten years of age or over, but no person 
could have more than one postal savings account 
at one time. Deposits could be made only in 
sums of a dollar or a multiple thereof; no one 
was to be permitted to deposit more than $100 in 
any one calendar month ; and the balance to the 
credit of any one person could not exceed $500, 
5 Opponents of the bill called attention to the fact that 
the chairman of the Board of Trustees, the Postmaster- 
General, was the head of a Department which had a large 
amount of political patronage, and that the Postmaster- 
General of that time had but recently been chairman of the 
Republican National Committee. 
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