Show Decreased Currency in Circulation Marks ng Move Progress By Br A Associated d Tresi WASHINGTON March 24 A 24 A decrease decrease decrease de de- de- de crease of ot in currency in circulation since the inauguration of President Hoovers Hoover's campaign marking a definite trend toward bringing money out of hiding hiding hid hid- ing it was announced today by Secretary Secretary Secretory Secre Secre- I tary tory Mills This fact cheered officials inasmuch inasmuch inasmuch inas inas- much as they took it to indicate that money heretofore hoarded was finding finding find tind- ing its way back into banks It was looked upon as a factor having a stabilizing sta sta- sta blAzing influence on the bank situation situation sit sit- At the same time the secretary I pointed o out t bank failures had dropped from 95 93 in the week ending January Hj 16 to 5 in the week eek ending March 19 It was disclosed that the reconstruction tion corporation has about used up its which the treasury h n subscribed to its s stock and that another another an an- other would be sub sub- scribed Secretary Mills made no prophecy about present or future conditions In preparing the figures showing the decrease in currency circulation allowance was made for seasonal currency movement so that th the actual reduction was listed as The secretary at the same time made Imade public the estimates of income tax collections for MarchOn March On March 1 the treasury experts listed amounts they expected to re receive receive receive re- re da day by day which totaled for the month The receipts received so 80 far have amounted to and the thc daB daily I figures have in nearly every case been only a small amount of off For Forthe Forthe Forthe the month it is expected that the re receipts receipts re- re I will amount amoun to a decrease of ot 5 per cent as compared with the treasur treasury estimate |