BANK FAILURES
!. Assn.-
1UGE sum locked UP in america TECT ON EMPLOYMENT
-By Telegraph — Copyright).
NEW YORK, Tuesday. ■ Melvin Traylor, President of 'irst National Bank of Chicago T stated that the sum of 1,750,00 dollars (about £292,000,000) ging to Americans was now tied the closed banks. asserted that the withdrawal ch a sum from circulation coned a big handicap to the reion of stability and the reductf unemployment; moreover people involved in sueh losses theniselves unemployed. Traylor added that the bank es had led to hoarding to the t of between 750,000,000 doland 1,000,000,000 dolars.
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Bibliographic details
Rotorua Morning Post, Volume 1, Issue 105, 24 December 1931, Page 5
Word Count
95BANK FAILURES Rotorua Morning Post, Volume 1, Issue 105, 24 December 1931, Page 5
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