Word: guaranteee
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Dates: during 1930-1939
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(3 of 3) budget (see below); $400,000,000 from the regular payment into the Public Debt Sinking Fund. ¶ His "capital" budget, to be raised by special borrowing, will include: $3,300,000,000 for public works; $500,000,000 for direct jobless relief, $400,000,000 to start...
The possible disadvantages of the guarantee are, however, a tribe in themselves. In order to pass the examination to get into the system banks may enter a new competition for liquidity by calling loans, selling securities, churning up fresh deflation. More serious, there are undoubtedly many small State banks which...
The biggest objection to deposit guarantee is that it drains the strength of sound banks to save the depositors of banks already weak. Wherever it has been tried* it has been a disastrous failure. Hence few bankers are in favor of it. Last week the president of the American Bankers...
Three days later the President signed the bill and many a good banker began to worry about the prospect of having his profits taken to pay the losses of bad bankers. Econostat, statistical weekly, calculated that if the deposit guarantee scheme had been in force from 1928 to 1932, 62...
Unless deposit guarantee produces a wave of failures among banks that cannot get into the system, thereby forcing repeal of the law, national bankers have no way of avoiding the tax except by leaving the Federal Reserve system. This some sound banks in financial centres would doubtless do except for...