The Position of the Post Office Savings Bank And How to Deal With Its Deficit of
The Position of the Post Office Savings Bank And How to Deal With Its Deficit of
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Sir E. W. Hamilton, K. C. B. , the Assistant Secretary to the Treasury, expressed this view in his deposition to the Select Committee. To keep a reserve would be ' a wholly un- necessary thing " ; 'a wholly useless and wasteful amusement " ; 'it would be locking up an enormous amount of money for no purpose, so far as I can see ' (Oues. 1053). One may well tremble to rind these views held by the official who appears to be mainly responsible for the safety of the Post Office Savings Bank. His re...marks on what might happen in the event of large withdrawals have been quoted. They are confirmed by what did actually happen to the French Savings Bank in 1848. When there was no more money in the till, depositors received " I. O. U. 's in the shape of bonds. " These 3i POST OFFICE SAVINGS BANK bonds were redeemed, we are told, " under the Empire. " No date is given ; but as the Second Empire was established at the end of 1852, these poor people must have nursed these " I. O. U. 's in the shape of bonds ' for at least four years (Report of the Select Committee on Savings Banks, 1857-1858.
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To quickly assess the difficulty of the text, read a short excerpt:
Sir E. W. Hamilton, K. C. B. , the Assistant Secretary to the Treasury, expressed this view in his deposition to the Select Committee. To keep a reserve would be ' a wholly un- necessary thing " ; 'a wholly useless and wasteful amusement " ; 'it would be locking up an enormous amount of money for no purpose, so far as I can see ' (Oues. 1053). One may well tremble to rind these views held by the official who appears to be mainly responsible for the safety of the Post Office Savings Bank. His re...marks on what might happen in the event of large withdrawals have been quoted. They are confirmed by what did actually happen to the French Savings Bank in 1848. When there was no more money in the till, depositors received " I. O. U. 's in the shape of bonds. " These 3i POST OFFICE SAVINGS BANK bonds were redeemed, we are told, " under the Empire. " No date is given ; but as the Second Empire was established at the end of 1852, these poor people must have nursed these " I. O. U. 's in the shape of bonds ' for at least four years (Report of the Select Committee on Savings Banks, 1857-1858.
What to read after The Position of the Post Office Savings Bank And How to Deal With Its Deficit of?
You can find similar books in the "Read Also" column, or choose other free books by Alfred Marks to read onlineMoreLess
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