Wednesday, July 30, 2008

On deposit insurance c. 1908

From Division of Labor:
(These folks are pretty funny for economists)

An interesting thought from the July 25, 1908 NYT:

COLORADO SPRINGS - George E. Roberts, President of the Central National Bank of Chicago, and ex-Director of the Mint, was the principal speaker at to-day's meeting of the State Banker's Association. He said in part:

"The first objection to the guarantee is that it ignores the fundamental defect of our currency system, its rigidity. There is an actual need for money to handle the business of this country in the Fall of the year than in the other seasons, and the guarantee plan does not meet that demand.

"The second objection to the guarantee of deposits is that it eliminates character as a necessary factor in the banking business."

The DoL stroll through the Times' archives includes:

Masses vs. Classes c. 1908
Transportation costs and hotels c. 1908
Olympic events c. 1908
Tax on Cupid c. 1908
On inventions c. 1908