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
Stock which the depositor has not bought through the Post Office
Savings Bank can be deposited by means of a stock account-book. The
process is thus: the Post Office Savings Bank buys the stock sent and
enters it to the credit of the sender, upon which the resale to him
is gone through and the stock entered in the usual way in the stocks
account-book.
In such cases the purchase and sale in respect of stock of the same
kind takes place at the same market price, so that there is no loss to
the depositor, merely costing for the purchase on account the fixed
commission of 2 per thousand.
Depositors have, with a view to the taking over of such stock to send
it at their own cost to the Post Office Savings Bank, joining with
it a request in which the stock to be taken over is described, the
deposit-book being sent (either lottery or stock account-book).
* * * * *
The Post Office Savings Bank undertakes to present at the Treasury of
the Public Debt, the bonds bought on account of depositors in order
that they may be stamped with the names of the holders.
This can be done at the request of the purchaser immediately after
purchase of the bonds refered to in which case the stamp duty will
be accounted for at the same time as the costs of purchase, or, the
stamping of the bonds can be requested which according to the stock
account-book are already in the Post Office Savings Bank. In the last
case the duty which including the cost of the form used amounts to 40
kreutzers a stamp is to be forwarded in postage stamps enclosed with
form N^o 22.
In every case the request must contain the exact name of the holder
and further information as to where he wishes to take the interest,
otherwise it will be understood that it is to be received at the Public
Debt Treasury.
After the stamping has occurred, which, according to rule must take
place within 3 or 4 weeks, the Post Office Savings Banks forwards the
stamped bonds to the address given before the business was entered on.
If an account of the interest due has to be prepared it is forwarded to
the holder by the Treasury of the Public Debt.
* * * * *
The coupons of the Bonds deposited as per stock account-book will,
when they fall due, be detached and cashed, and upon the day of their
falling due entered both in the stock account-books of the holders
without their having in each particular case to give notice. With
reference to these sums coupon-orders will be issued to the depositor
on the ground of which they can receive payment of them at any
Receiving Office, on the amount being entered in their deposit-book
before the expiration of the two months during which the orders are
valid.
After this the entry can only take place by sending the deposit-book to
the Post Office Savings Bank at Vienna.
Public-domain text, read in full here on John Shaqi.
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