Word: deposited
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
...Chairman Fletcher would be unable to open a $100,000 deposit account with Morgan & Co. unless properly introduced...
...deposit guarantee bill was not part of President Roosevelt's legislative program. He was. in fact, lukewarm to it. Secretary of the Treasury Woodin had frowned on many of its features. One of its authors was Virginia's Carter Glass. But Senator Glass had accepted the guarantee clause only as the cheapest and safest price he had to pay to the radical majority of Congress for passing the rest of his cherished bank reforms. The bill's other author was Alabama's Henry Bascom Steagall, smalltown lawyer and chairman of the House Banking & Currency Committee...
...Bank deposit guarantee schemes have been tried in Nebraska, Oklahoma, Kansas, Mississippi, Texas, North Dakota, South Dakota and Washington. They have invariably ended in failure and loss, if not in outright scandal and default. They have weakened the moral fibre of bankers and served chiefly as a temptation to bad banking. Honest banking has been penalized for dishonest banking...
...levy. Even big national banks might exchange their Federal charters for State charters to escape from the Reserve. Such a withdrawal on a large scale might well wreck the whole Federal Reserve System and end an era in central bank history. On the other hand friends of the deposit guarantee loudly claimed that it would tend to drive all nonmember State banks into the Federal Reserve and create one national system, as no bank could do business outside the Government's magic circle of deposit insurance...
...launched on this revolutionary enterprise by means of a Federal Deposit Insurance Board, to be financed by $150,000,000 from the Treasury's inflated purse, by 50% of the reserve of the Federal Reserve Banks and by ½ of 1% of the deposits of the Reserve member banks. Whether assessments would really stop there was the big worry of big bankers. Effective July 1, 1934 the Federal Board would insure deposits on the following scale...