The Postal Savings System in the Depression

Maureen O'Hara and David Easley

The Journal of Economic History, 1979, vol. 39, issue 3, 741-753

Abstract: This paper examines the behavior of the postal savings system in the Depression. It is shown that because the system was created with an inflexible structure it was unable to carry out its prescribed function when economic conditions changed in the Depression. Instead, the system evolved from a small-scale government program designed for the low-income saver into a financial force capable of causing problems for the savings and loan industry, the housing market, and even the banking system.

Date: 1979
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