Social Comptabilism / The Cheque and Clearing Service in the Austrian Postal Savings Bank. Proposed Law laid before the Chamber of Representatives of Belgium

by Ernest Solvay; Hector Denis

To give advice as well as to make proposals in the business relating to the Postal Savings Banks, a special Council will be constituted.

Regulations as to the composition of this special Council as well as the determination of its special sphere of action will follow by way of ordinance.

Article 2.

The Post Office Savings Bank will receive savings deposits paid into the Post Offices, and by the agency of the Post Offices will pay back the deposits when reclaimed.

Article 3.

All deposits in excess of the current needs of the Post Office Savings Bank are to be profitably invested.

Such profitable investments of the savings-deposits will be made by the purchase of the Austrian Consolidated Bonds bearing interest.

Article 4.

From the profit of the invested deposits is to be defrayed the interests on the deposits, as well as the whole expenses, administrative or otherwise.