PROSPERITY OF THE STATES
BEST YEAR IN HISTORY. HUGE SAVINGS RECORDED. By Telegraph—Press Assn.—Copyright. Received Nov. 14, 11.5 p.m. Washington, Nov. 13. Treasury officials declare that 1926 was the most prosperous year in the United States’ history. The total deposits in 28,000 banks was 48,800 million dollars, which is an increase of two billions over 1925. The demand deposits total 18,800 million. The majority are time deposits. Individual accounts, such as savings, increased 4,000,000,000 dollars. The Christmas season will be one of the greatest buying holidays. The banks will pay Christmas savings amounting to one thousand millions early in December. It is estimated that an additional five hundred millions will be spent by the public, and charity contributions are expected to amount to several million dollars. It is officially stated that every business, with the exception of agriculture in some sections, has experienced prosperity. A record for savings has been established, eight hundred million dollars being paid by the public. Mr. Mellon, Secretary to the Treasury, predicts the cycle of business, which was sound and progressive in 1926, will continue in 1927.
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Taranaki Daily News, 15 November 1926, Page 9
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182PROSPERITY OF THE STATES Taranaki Daily News, 15 November 1926, Page 9
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