The Administration Currency Bill Address
The Administration Currency Bill Address
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Then, too, under this distribution of reserves, where would our large borrowers go for credit? The banks, through carrying their reserves in the centers, furnish the largest volume of deposits against the smallest percentage of loans, while corporations, indi- viduals, and firms who are borrowers, furnish the smallest percentage of deposits to the largest percentage of demand for loans.
Take away the reserves we now carry for our correspondents and you take away our ability to furnish large amo...unts of money to one borrower. Where, then, will those who require large amounts of money for the conduct of legitimate business go to secure their accommodations ?
To my mind, this is a subject that concerns the business man much more than it does the banker; especially since, as I have before stated, the effects of whatever changes are made must ultimately fall upon and be borne by the people.
I do not, of course, assume to believe the passage of this bill would take away all of our bank balances, because most bankers carry cash means largely in excess of their legal requirements, and, besides, many of our correspondents may not join the system; in which event their balances would remain undisturbed.
What to read after The Administration Currency Bill Address?
You can find similar books in the "Read Also" column, or choose other free books by George Mcclelland Reynolds to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Then, too, under this distribution of reserves, where would our large borrowers go for credit? The banks, through carrying their reserves in the centers, furnish the largest volume of deposits against the smallest percentage of loans, while corporations, indi- viduals, and firms who are borrowers, furnish the smallest percentage of deposits to the largest percentage of demand for loans.
Take away the reserves we now carry for our correspondents and you take away our ability to furnish large amo...unts of money to one borrower. Where, then, will those who require large amounts of money for the conduct of legitimate business go to secure their accommodations ?
To my mind, this is a subject that concerns the business man much more than it does the banker; especially since, as I have before stated, the effects of whatever changes are made must ultimately fall upon and be borne by the people.
I do not, of course, assume to believe the passage of this bill would take away all of our bank balances, because most bankers carry cash means largely in excess of their legal requirements, and, besides, many of our correspondents may not join the system; in which event their balances would remain undisturbed.
What to read after The Administration Currency Bill Address?
You can find similar books in the "Read Also" column, or choose other free books by George Mcclelland Reynolds to read onlineMoreLess
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