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A certificate of a $5 deposit in the United States Postal Savings System issued on September 10, 1932. The United States Postal Savings System was a postal savings system signed into law by President William Howard Taft and operated by the United States Post Office Department, predecessor of the United States Postal Service, from January 1, 1911, until July 1, 1967.
Post office in Shanghai offering postal savings services. In the People's Republic of China, the Postal Savings Bank of China (zh:中国邮政储蓄银行) was split from China Post in 2007 and established as a state-owned limited company. It continues to provide banking services at post offices and, at the same time, some separated branches.
To provide depositors who did not have access to banks a safe, convenient method to save money and to promote saving among the poor, the postal savings system was introduced in Great Britain in 1861. It was vigorously supported by William Ewart Gladstone, then Chancellor of the Exchequer, who saw it as a cheap way to finance the public debt. At ...
Depositors in the system were initially limited to hold a balance of $500, but this was raised to $1,000 in 1916 and to $2,500 in 1918. The initial minimum deposit was $1. In order to save smaller amounts for deposit, customers could purchase a 10-cent postal savings card and 10-cent postal savings stamps to fill it.
The mail or post is a system for physically transporting postcards, letters, and parcels. [1] A postal service can be private or public, though many governments place restrictions on private systems. Since the mid-19th century, national postal systems have generally been established as a government monopoly, with a fee on the article prepaid.
JD Thomas said the Postal Service Act was shaped in part by the desire to avoid censorship employed by the Crown to try to suppress their political opponents in colonial times. He also claimed that "the promise of mail delivery [helped] grow the nation and economy instead of serving only existing communities."
In North America, instead of a PTT there was the private monopoly Bell System (for the US)/Bell Canada (dominant ILEC in Ontario, Quebec and (historically) parts of what is now Nunavut; competes with other fixed-line carriers in the rest of Canada) responsible for telecommunications and a separate federally run US Postal Service/Canada Post for mail delivery.
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