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Show I Bankers Believe System of "Rationing" Credit May Be Beneficial PINEHURST, N. C, April 30 The executive council of the American association today appointed a special committee to confer with the federal reservo board on orderly methods of bringing about a deflation of credits. The opinion of tho council as ex- pressed in a resolution was that the only means of diminishing the tro-I tro-I mendous demands on tho banks for credit was a fell considered rationing of credit, progressively applied from tho federal reserve banks through the financial and commercial structure of tho nation. 1 Tho resolution said credit for ossoiv tials must not be unduly restricted but that banks should not advance funds for speculative purposes. Tho council approved an amendment amend-ment to the Income tax law exempting interest on bank deposits of non-resident aliens. The object of the amend- ment is to encourage foreign trade. |