CHAPTER IV 
Depositors and Deposits 
In the preceding discussion of the organic 
postal savings bank law it was pointed out that, 
after considerable discussion, Congress left the 
decision as to the form in which the depositor’s 
account should be kept to the discretion of the 
Board of Trustees. Chiefly for the purpose of 
keeping administrative expenses at a minimum, 
the board decided to use in place of the customary 
pass book a simple form of certificate. This 
certificate is officially described as a “non-trans- 
ferable and non-negotiable certificate of deposit, 
to be supplied to postmasters in duplicate in fixed 
denominations of one, two, five, ten, twenty, fifty 
and one hundred dollars, upon which shall be 
entered the name of the issuing office, the date of 
issue, the date on which interest begins, the name 
of the depositor, and the number of his account. 1 ” 
On the back of each certificate is printed a ten 
year interest table. There is furnished to each 
depositor an envelope, in which he may preserve 
1 Instructions to Postmasters at Postal Savings Deposi 
tory Offices, 1913, p. 7. 
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