U.S. Banks Re-open

Manawatu Times, Volume LVI, Issue 7105, 14 March 1933, Page 7

U.S. Banks Re-open

Business As Usual

PRESIDENT FLAYS DISHONEST BANKERS

United Press Association—By Electric Telegraph—Copyright Received Monday, 9.10 p.m. WASHINGTON, Mar. 12.

Regulations governing tho reopening on M-onday of the Federal Land Banks, Federal Intermediate Banks, Joint Stock Banks, Federal Homo and Loan Banks, Regional Agricultural - Credit Corporations and the Reconstruction Finance Corporation were issued on Sunday night by tho Secretary of tho Treasury (Mr. Wcodin.) At the same tinio Mr. Woodin authorised all Federal Reserve Banks, taeir branches and their cgoncics to open on Monday for the performance of all the usual normal banking functions except as prohibited by President Roosevelt’s proclamation. President Roosevelt told the United States on Sunday night that tho banking system was ready for reopening on Monday on a progressive basis and asked for renewed confidence and faith by rtho people. Ho declared that the banks will take care of all needs. The new currency which is being rushed into tho far corners of tho country he described as sound.

The President scarified those bankers who “had shown themselves either incompetent or dishonest” and asserted that it “was the Government’s job to straighten out tho situation, and the job was being performed.” Dealings in Dollars Received Tuesday, 2 a.m. LONDON, Mar. 13. Dealings in American dollars are being resumed in London this afternoon.