| Show the facts about bank currency million misleading ailing statements have been macle r recently that banks are U united led states mints and have toiled created issued and put in circulation over twenty billion dollars in currency there is in only one a way for a bank to e notes or circulation paper and that Is to deposit with the imbed slates treasury government holds bonds of certain early au to lo the amount tit it wish wishes in currency in return the government I 1 loans a the banks per cent of the I 1 face value of at the he b bonds ads Is leeg 5 per feet cent at retained RE as a depo deposit to cover or redemption demotion tion of f currency taxes ex roq fors amine caminera fees ind and expenses of currency bureau thus thua in early do daya new money waa put in circulation cu 1 lation at a time when then it we was ne needed e ded by the people as a medium of exchange on october 81 31 1918 there was outstanding only of the he original 1 issued from 1875 to 1918 banks care very little about this right girnt of nine their own currency and the new federal re serve act provides for its ultimate discontinuance never in the history of the country were the banks working in such close operation cooperation co with their cus can comers the modern bank I 1 is a pro gres sive institution and many ol of them have departments in which experts make it their own bust business n see to co study problems of the farmer ano industries with whom they d do bus mess men it has been due largely to the ork of the banks that better a stock t ock oc clubs and better fruit club etc nave have been organized in all parts ol of the country english banks now admit amer I 1 ica has finest banking system in the world |
