Abstract

Finance
November 28, 1907 issue

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The U.S. has now been fully four weeks in a state of suspended credit, an extraordinarily long period for the virtual stopping of the wheels of finance, throughout the United States. The question is now being asked, with naturally increasing anxiety, how long can such a state of things continue? The present crisis can scarcely compare for violence with that of 1857. In that year, the New York banks suspended special payments on October 14, they resumed full payments on December 12, and they did this because they had received sufficient gold from England. As a matter of fact, the predictions of experienced bankers, during the past few days, have fixed December 7, as the probable outside limit for the payments.

See Also:

FINANCE -- United States; CREDIT; BANKS & banking -- United States; PAYMENT; CAPITALISTS & financiers -- United States; UNITED States
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