V

CONTENTS
CHAPTER  I
The  Movement  for  Establishment  of  a  Postal  Savings
System  in  the  United  States
Long  duration  of  the  movement,  1-2.  —  Movement
encouraged  by  panic  of  1907,  2-4.  —  Declarations  of
political  party  platforms  in  1908,  4-6.  —  Debate  over
desirability  of  postal  savings,  6-7.  —  Question  of  the
adequacy  of  existing  savings  facilities,  7-8.  —  Statistics ­
  relating  to  existing  facilities,  8-10.  —  Comparison
of  postal  facilities  and  banking  facilities,  11-12.  —
Fear  of  competition  with  existing  banks,  12-13.  —
Opposition  of  bankers,  13-15.  —  Argument  against
the  fear  of  competition,  15-16.  —  Losses  to  depositors
from  bank  failures,  17-19.  —  Postal  savings  as  a
means  to  attract  money  from  hoarding,  19-20.
CHAPTER  II
The  Postal  Savings  Bank  Act  of  1910  .
Classification  of  provisions,  21.  —  Administration
by  a  Board  of  Trustees  with  discretionary  powers,
21-24.  —  Provisions  for  deposits,  24-25.  —  Provisions
for  withdrawal  of  deposits,  25-26.  —  Reserves  against
deposits,  26-28.  —  Centralization  of  administration,
28-30.  —  The  form  of  credit  given  to  depositors,
30-31.  —  Method  of  determining  the  rate  of  interest
paid  depositors,  31-32.  —  Selection  of  a  two  per  cent
rate,  32-34.  —  Question  of  investment  of  savings
funds,  35-37.  —  Debate  in  Senate  on  constitutionality
of  the  bill,  37-40.  —  Amendment  of  bill  in  Senate  to
insure  constitutionality,  40-42.  —  Final  provisions  for
investment,  42-45.  —  Privilege  of  bond  investment
granted  to  depositors,  45-46.  —  Merits  of  this  provision, ­
  46-48.  —  Investment  provisions  in  relation  to
outstanding  government  bonds,  48-49.

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