Eureka Reporter | 1903-07-24 | Page 7 | Postal Banks of Britain

st POSTAL DANKS BANKS OF BRITAIN their assets less than the their depos ts but nobody worries the tact fact la Is odd the p 0 s e savings banks of great bri britain t a in are r technically insolvent their deposit deposits at the end of the year were their assets only about nobody worries about a little thing like that the government la Is responsible of course the discrepancy rose from the high prices the depart ment was forced to pay for national bonds before the boer nar a the low ering of the rate of interest allowed Is an obvious cure the postal bank banks were authorized in 1881 and nearly 10 was deposited the first year some later developments are curious by the slip system a sum so small aa as two cents can be deposited deposits can be withdrawn by telegraphy a school savings banu banki are recognized hut are not very sue owing to the superior attractions of sweets as a medium of investment A feature of the them postal bank Is that through their agency depositors po can buy scalf fractional por eions of government bonds new now york world