50

CHAPTER  III

Administrative  Organization  and  Selection ­
  of  Post  Offices  for  Postal  Savings
Banks
Since  the  opening  for  business  of  the  first  postal ­
  savings  banks,  on  January  3,  1911,  there  have
been  numerous  changes  in  the  central  administrative ­
  organization  at  Washington,  the  more  important ­
  of  which  are  deserving  of  note.  A  few
months  experience  with  the  new  system  showed
that  much  delay  was  occasioned  by  the  inability
of  the  three  members  of  the  Board  of  Trustees  to
get  together  promptly  when  needed.  Accordingly ­
  the  Post  Office  Department  Appropriation  act
of  March  4,  1911 1  amended  the  postal  savings
law  by  giving  to  the  Postmaster-General  full
authority  with  reference  to  the  designation  of
postal  savings  banks,  the  making  of  rules  concerning ­
  the  deposit  and  withdrawal  of  funds,
and  some  other  matters  originally  entrusted  to
the  Board  of  Trustees  as  a  whole.  The  investment ­
  and  control  of  postal  savings  deposits  continued ­
  to  be  intrusted  to  the  board.
1  Sec.  5.