FINANCIAL POINTS.
- ■ ♦ UNITED STATES AND CURRENCY A SCHEME. . GREATER ELASTICITY NEEDED. By Telegraph.— Pi ess Association.- Copyright. (Eecoived December 7, 9 a.m.) NEW YORK, 6lh December. The annual report of the Secretary of the United States' Treasury, Mr. Cortelyou, recommends legislation in ihe direction of greater elasticity of the currency. Ho suggests division of the country, and the retention in each section of a larger proportion of bank reserves ; also, that the law limiting tho retirement of circulation should be so amended as to leave the amount to the discretion of the Treasury. A BANK FAILURE. LIABILITIES NEARLY FIVE MILLIONS. NEW YORK, 6th December. Tho National Bank of Commerce, in Kansas City, Missouri, has failed. Tho liabilities aro stated to be £4,800,000. Government officials who 'havo made an investigation hops that the bank will be able to meet all obligations. It held £200,000 worth of Clearing House certificates. The bank's deposits in one month decreased from seven and a half millions sterling to one and a half millions.
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Bibliographic details
Evening Post, Volume LXXIV, Issue 138, 7 December 1907, Page 7
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168FINANCIAL POINTS. Evening Post, Volume LXXIV, Issue 138, 7 December 1907, Page 7
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