| Show BANK DEPOSITS WERE SAFEST investments 14 high hi ih government official says no investments except U S E is 13 suffered as little loss as deposits in closed banff washington D C no form of investments except government bonds suffered as little loss as deposits in closed banks during the years 1931 1 32 2 33 jesse 11 II jones chairman of 0 the reconstruction finance corporation declared in i t reent address A point generally overlooked in connection with bank failures tn in this period Is that upon the whole depositors in closed bauks banks will get a some what larger percentage than has been true in bank failures over a period of 0 say twenty live years mr air jones said heretofore they have gotten about 58 but in these wholesale bank closings my estimate Is that they will upon the average get about 65 of 0 their deposits another point worthy of mention Is that a depositor depo eltor in a closed bank loses only a part of 0 his deposit while the bank stockholder loses all plus a stock assessment no form ot of investment except government bonds has suffered as little loss as deposits in closed banks and while I 1 appreciate that there Is little consolation in this tact fact those who had their savings invested in stocks bonds mortgages real estate industrial investments or in businesses of 0 any kind have had losses very much greater and in a much larger percent ase age than have depositors in closed banks it Is for or these rca reasons sons and others not necessary here to enumerate that it ft la Is not possible to justify paying depositors po in clofed banks with the llie tax ta payers pi money |
