INFLATION ROUTED
(Press. Assn.—
BID TO STREN GTHEN CONTROL OVER BANKING SYSTEM
-By Telegraph — Copyrlght).
Rec. Jan. 26, 7.40 p.m. Washington, Jan. 25. The Senate by 54 votes to nine votes passed the Glass Banking Bill. The inflation lead by Senators Lord and Wheeler was completely routed. However, they expressed the opinion that the bill would be defeated in the House. The measure is intended to strengthen the national banking system and remove the reason for 10,000 bank , failures during the recent years. It gives the Central Federal ReserVe Board greater control over a numbei ' of banks and divorces banks and securities and affiliates reserve funds . for speculative operations.
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Rotorua Morning Post, Volume 2, Issue 441, 27 January 1933, Page 5
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109INFLATION ROUTED Rotorua Morning Post, Volume 2, Issue 441, 27 January 1933, Page 5
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