TIME
After U. S. Comptroller John William Pole had diligently perused the 6,150 national bank statements for which he called on June 30, he had assistants consolidate them into one big bank statement. This big statement showed that all national banks had resources totaling $22,368,000,000, a decline of over $2,294,000,000 since the last year end. Deposits were $17,461,000,000, a drop of $1,783,000,000. Loans and discounts had shrunk $1,639,000,000 to $10,282,000,000. National banks held $3,352,000,000 of Government securities, one-sixth of the total U. S. debt. Of cash and balances with other banks including the Federal Reserve they had $3,445,000,000. Depositors maintained 14,150,000 savings accounts.
More Must-Reads from TIME
- Breaking Down the 2024 Election Calendar
- How Nayib Bukele’s ‘Iron Fist’ Has Transformed El Salvador
- What if Ultra-Processed Foods Aren’t as Bad as You Think?
- How Ukraine Beat Russia in the Battle of the Black Sea
- Long COVID Looks Different in Kids
- How Project 2025 Would Jeopardize Americans’ Health
- What a $129 Frying Pan Says About America’s Eating Habits
- The 32 Most Anticipated Books of Fall 2024
Contact us at letters@time.com