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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.
Many other countries adopted such systems soon afterwards. Japan established a postal savings system in 1875 and the Dutch government started a systems in 1881 under the name Rijkspostspaarbank (national postal savings bank); this was followed by many other countries over the next 50 years.
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.
This page was last edited on 16 February 2022, at 07:37 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
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The postal savings system in Japan was started in 1875 by Maejima Hisoka, who is known as "the father of the Japanese postal system." [7] [8] Before he founded the postal system as a whole four years before in 1871, Maeijima had spent time observing the postal system of the United Kingdom and was impressed by its offering of postal savings services.
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