82 SWEDEN - CREDIT 



The minimum is one crown, the maximum on which interest will be 

 paid is, as has been said, 2,000 crowns. Deposits in excess of this sum bear 

 no interest. 



Withdrawals may be made in every postal bank, after a special request 

 has been addressed to the central ofhce. There is no " saving clause", as in 

 French savings banks, but the central office may fix a period for withdraw- 

 als which may extend to one month for amounts exceeding 500 francs. 

 Withdrawals at sight may be made only in the offices in Stockholm. 



Minors of 15 years of age and married women may make deposits 

 and withdraw without authorization from their parents or husbands. 

 The deposits and interest are guaranteed by the State. No person may 

 possess more than one book. 



In communes where there are no post-offices, the rural postmen may 

 collect deposits and make payments. In igio the postmen so acting numbered 

 348. There were 1,393 schoolmasters and mistresses receiving the savings 

 of their pupils in 191 o. 



In order to interest the officials in the extension of savings banks, they 

 receive a commission of 5 ore for each book, and 5 ore more if the account is 

 not closed within the year ; 2 ore for each deposit, and o.i per cent on the 

 total amounts, and o.i % on the amounts sent to the savings banks, if an 

 account is sent in every ten days to the head office. 



The rules as to the investment of savings bank funds are of special 

 interest. The capital not required for current expenses is deposited in the 

 State Bank. The funds not needed for withdrawals are invested in Swed- 

 ish Government stock or in bonds of the General Mortgage Bank of Sweden, 

 in both cases under State guarantee; or in bonds issued by communes with 

 authority from the Government or by associations or institutes fully 

 guaranteed by a commune duly authorised for the purpose by the Govern- 

 ment, both as regards the reimbursement of the capital or payment of 

 interest. 



Should any capital remain uninvested, it may be granted as a loan to 

 communes or private individuals on special security, or deposited in banks 

 of which the rules have been authorised by Royal Decree, and which have 

 capital and reserves amounting to at least 5,000,000 crowns. 



We shall now see how the capital of the Swedish postal banks was in- 

 vested on December 31st., 1911. 



It amounted to 50,550,908.51 crowns and was thus distributed: 



crowns % of the Total 



Cash Balance, Credit, Advances etc 306,104.89 0.61 



Bonds and Interest 36,078,097.02 71.37 



Communal lyoans and Interest 10,304,435.08 20.38 



Mortgage I.oans and Credit in Banks . . . 3,862,271.52 7.64 



Total . . . 50,550,908.51 100.00 



