Abstract

Another Change of Policy

November 13, 1902 issue

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It was announced in Washington that had revoked the order which he made on October 1902, allowing other satisfactory security than U.S. bonds to be taken for government deposits in banks. This new change or policy, for so it will be regarded, will not add anything to the secretary's reputation as a man knowing his own mind and sure of his footing. Meanwhile, the secretary's order of October 1, 1902 has been the subject of a good deal of comment in business circles. It will be the duty of the U.S. Congress, early in the coming session, to inquire in courteous terms why this uniform interpretation of the law regarding government deposits in banks has been changed.

See Also:

GOVERNMENT securities; BANK deposits; BONDS (Finance); DEBTS, Public; FINANCE, Public; UNITED States
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