STRONGER BANKING.
RESULT OF AMERICAN CRASHES Mergers between the better banks and the forced liquidation of the weaker ones are bringing about a stronger banking situation in the United States, according to reports presented to Mr Roosevelt. More than half the banks that operated in 1921—when there were 30,800 separate institutions—have closed, while the total deposits have increased from £7,600,000,000 to £8,200,000,000. Several thousand banks which closed in March will never reopen. Most of the guarantee funds and insurance deposits are being provided by the banks themselves, and Mr Roosevelt has been assured that the situation is gradually becoming very sound.
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Manawatu Standard, Volume LIII, Issue 239, 6 September 1933, Page 8
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101STRONGER BANKING. Manawatu Standard, Volume LIII, Issue 239, 6 September 1933, Page 8
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