Annual Report Of The Secretary Of The Treasury On The State Of The Finances For The Fiscal Year Ended June 30 1910

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ISBN 13 : 9781330828021
Total Pages : 532 pages
Book Rating : 4.8/5 (28 download)

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Download or read book Annual Report of the Secretary of the Treasury on the State of the Finances written by and published by . This book was released on 2015-07-06 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Annual Report of the Secretary of the Treasury on the State of the Finances: For the Fiscal Year Ended June 30, 1913; With Appendices Sir: The Secretary of the Treasury has the honor to make the following report: Financial Aid To Dayton, Ohio. In the latter part of March, 1913, a great storm swept over the Ohio Valley, causing disastrous floods, from which the city of Dayton, Ohio, became a special sufferer. So serious were the losses, that, as the waters began to recede, the banks in that city were afraid to reopen their doors because of the temporary impairment of confidence - subsequently happily dissipated - in the recuperative powers of the city and in the ability of the banks to meet the extraordinary demands which might be made upon them. On the 4th of April, 1913, a telegram was received from the chairman of the Citizens' Relief Committee, asking that a representative of the Department "be sent right away to see about financing our banking institutions," etc. A national-bank examiner was immediately dispatched to Dayton, and within twenty-four hours after his arrival, and upon his recommendation, the Department designated every national bank in the city of Dayton as a Government depositary, and announced that it would deposit in said national banks $2,000,000 of Government funds, to be secured by State, municipal, or other local bonds acceptable to the Secretary of the Treasury. The effect of this action was to restore confidence at once. The banks reopened their doors, and instead of the anticipated need of $2,000,000, the Treasury was called on for only $182,000. $500,000,000 Emergency Currency Announcement. A special session of Congress convened on April 7, 1913, and immediately began to consider the important questions of tariff and currency reform. The vast economic changes involved in these two important questions had the natural effect of causing in many quarters apprehension as to the possible effects of the anticipated legislation. A feeling of unrest began to pervade business circles. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.