Word: interdistrict
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Dates: during 1921-1921
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...outstanding feature of the credit situation is the comparative slowness with which easier conditions are developing in the money market. The fact of improvement is unmistakable in all fundamental relations--federal reserve ratios, rediscounting, interdistrict borrowing; but the six months which have elapsed since the peak of the credit stringency have witnessed a much less substantial decline in market rates than occured after previous crises in this country. For this there are several reasons. The drastic liquidation in commodity markets and the serious difficulties in certain export markets have made it necessary to "carry" many borrowers for more or less...
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