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Postal Savings Bank opens for all ten year olds and up
Postmaster General Burleson announces an extension of the Postal Savings System allowing any person ten years old or over to open an account. The plan enables deposits by mail from sparsely settled areas via local postmasters and nearby banking points with receipts, and withdrawals on demand. The government guarantees repayment with accrued interest, and 500,000 depositors now participate, including many foreign-born citizens who own over half the deposits. Barstow post office reports 54 depositors totaling 9,194 in deposits.
MENTIONED IN THIS ARTICLE
United States
Postal Savings Bank
Burleson
Dockery
Saline County
Postal Savings Bank of
Nore
Post Office
Postal Savings System
Post Office Department
Barstow