Word: credited
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Dates: during 1930-1939
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...loose public credit control...
...deposit, 5? every time they draw a check. CheckMaster is thus the first U. S. example of 100% money banking-a principle advocated by Yale's Professor Irving Fisher because it eliminates the dangers of bank runs since all deposits are kept liquid and because it restrains credit inflation since loans are not pyramided against depositors' cash...
...stuffed with umbrellas-$2,500,000,000 in excess reserves. Last week this familiar situation was attacked from a new angle by Chairman Marriner Stoddard Eccles of the Federal Reserve System. Mr. Eccles is a smalltown banker from Utah and so ardent a believer in New Deal theories of credit control that he has often been a White House spokesman on them. He wrote last week in reply to a letter from Senator Vandenberg...
...reason why bank credit is not flowing adequately into productive business channels is because the banks are under too severe restrictions in their lending and investing operations. This is due both to Federal and State bank-examination policies and to the regulation of the Comptroller of the Currency governing investments by member banks. As to loans, many would-be borrowers cannot get deserved accommodation by the banks, not because the bankers are necessarily at fault, but because of the restrictions imposed upon them...
...Bank Credit (loans and investments in 101 cities) dropped to $20,536,000,000, a two-and-a-half year low, continuing a steady ten-month slide. The complete sluggishness of business was demonstrated by its ever-waning interest in commercial loans. In New York City, an apparent reversal of the trend-an almost unparalleled rise of $465,000,000 in bank credit- was actually a confirmation of the condition. The temporary fluctuation was caused by banks (having more & more difficulty in finding investments) buying up huge quantities of maturing Treasury obligations so as to be able to turn them...