UNITED STATES WEALTH.
RECORD YEAR OF PROSPERITY. SOME STUPENDOUS FIGURES. v (BY TELEGRAPH PRESS ASSOCIATION.) WASHINGTON, Nov. 13. Treasury officials declare that 1920 was tlic most prosperous year in the United States’ history. The total deposits in 28,000 banks was 48,800,000,000 dollars, which is an increase of two billions over 1925. The demand deposits total 18,800,000,000. The majority arc time deposits. Individual accounts, such as savings, increased 4,000,000,000 dollars. The Christmas season will he one of the greatest buying holidays. The banks will pay Christmas savings amounting to 1,000,000,000 early in December. It is estimated that an additional 500,000,000 will be spent by the 'public, and charity contributions are expected to amount to several million dollars. It is officially stated that every business, with the'exception of agriculture in some sections, has experienced prosperity. A record for savings has bean established, 800,000,000 dollars being paid by the public. Mr Mellon, Secretary to the Treasury, predicts the cycle of business, which was sound and progressive in 1926, will continue in 1927.
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Hawera Star, Volume XLVI, 15 November 1926, Page 5
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169UNITED STATES WEALTH. Hawera Star, Volume XLVI, 15 November 1926, Page 5
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