Abstract

Finance
November 21, 1907 issue

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The article presents various financial developments related to the U.S. A member of the Cabinet was quoted a week ago as saying that $1,500,000,000 currency is being hoarded by American bank depositors. Probably he never made such an estimate, for the figures are absurd. The entire cash holdings of this country's 6 500 national banks at the time of their last reports, was $704,000,000, and the latest estimate, by the comptroller of the currency, give $334,900,000 as the total cash holdings of the country's State banks, savings banks private banks, and trust companies. The weekly unofficial statements of total cash, shipped from the U.S. banks to the interior in that three-week period, foot up to $35,000,000.

See Also:

FINANCE; MONEY; BANKS & banking; STATE banks; BUSINESS enterprises; UNITED States
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