Practical Problems in Banking And Currency Being a Number of Selected Addresses
Practical Problems in Banking And Currency Being a Number of Selected Addresses
Walter Henry Hull
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It was strangled by politics before it took firm root in this country, but was adopted by Canada and allowed to develop naturally. It has been improved upon there from time to time by judicious legislation calculated to build it up and strengthen it. We should not, therefore, hesitate to take back what we gave, if we want it. Our Canadian friends will not grudge us any new ideas which their experience of it may have developed. They got their original ideas from us, and even now propose to adopt... probably the only two features of our system which would improve theirs— legal reserve limitation and governmental inspection. In his annual report, recently issued, the Comptroller of the Currency shows that on September 10, 1901, the national banks had 13. 7 per cent, of their total resources on deposit with other banks, while the thirty-four chartered banks of Canada had only 5. 1 per cent, so employed. This comparison is striking enough, but does not reveal the whole truth. The national banks do not in their statements separate domestic from foreign balances.
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