Social Comptabilism: The Cheque and Clearing Service in the Austrian Postal Savings Bank. Proposed Law laid before the Chamber of Representatives of Belgium — John Shaqi
Social Comptabilism: The Cheque and Clearing Service in the Austrian Postal Savings Bank. Proposed Law laid before the Chamber of Representatives of BelgiumSolvay, Ernest
General
Social Comptabilism: The Cheque and Clearing Service in the Austrian Postal Savings Bank. Proposed Law laid before the Chamber of Representatives of Belgium
Solvay, Ernest
Postal savings banks; Postal savings banks -- Austria
The Government is empowered within this maximum point to fix the rate
of interest for deposits.
The Government can also ordain that the abovementioned deposits,
especially the guarantee deposits shall either bear no interest at all
or only partially do so.
§ 7.
Of the money paid into the Orders' (Cheque and Clearing) Service of the
Post Office Savings Bank there will always be kept in hand a portion in
specie adequate to meet probable needs.
The surplus remaining is to be placed out at interest in such a way as
always to assure the complete fulfilment of the engagements entered
into.
The placing out can be made:
1. By acquiring partially mortgaged bills of exchange (salt mine,
treasury bonds).
2. By opening at a banking establishment a running account at short
dates of payment (a deposit running account).
3. By advances on security of bonds of the United National Debt and of
the National Debt of the kingdoms and lands represented in the Imperial
Council, also those Austrian bills upon which loans are permitted by
the statutes of the Austro-Hungarian Bank, finally upon stock and other
securities in the Austro-Hungarian Bank. (Advances with the exception
of accounts booked.)
4. By discounting coupons of the funds pointed out in N^o 3, also
in prize-tickets in the Austrian State Lottery, also of other funds
indicated in N^o 3, repayable by draft, last on discharge certificates
of Customs duties.
5. By discounting Bills of Exchange to be cashed at a Bank, a Savings
Bank, or else at a Deposit or Credit Company, registered according to
the Law of April 9^{th} 1873 (Z. 70 R. G. Bl.).
6. By purchase of bonds of the National Debt, deeds of mortgage
or bonds having priority rights, in so far as such stocks are, in
conformity with N^o 3, capable of being taken in deposit.
The duration of the loans described in N^o 3, as well as the paper to
be discounted, described in N^o 4, and the bills of Exchange within the
kingdoms and lands represented in the Imperial Council as described in
N^o 5, is limited to three months.
In selecting what to take in deposit, or what to buy, in fixing
the extent of the sum to be lent out, as well as the choice of the
institutions with which it is to enter into business relations, the
Post Office Savings Bank is to seek direction from the Ministry of
Finance.
§ 8.
The Orders (Cheques) issued in the Orders' (Cheque and Clearing)
Service are subject to no other tax than that fixed by the Law of
February 29^{th} 1864, § 7 (R. G. Bl. N^o 20) of 2 kreutzers a piece.
Public-domain text, read in full here on John Shaqi.
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