Harper's New Monthly Magazine Volume 139 June to November 1919 . $2,756,-Bank- 778,000 United States bondsof Bonds anc^ certificates of indebted-ness, in addition to carryingloans on $1,106, 708,000 ofthe same security, a total of $3,863,-486,000. The report of the Comptrollerof the Currency of March 4th last dis-closed holdings by the National banksof the country of $3,681,000,000 UnitedStates bonds and certificates of indebt-edness. In all likelihood, if the reportsof State banks were available, a similarcondition would be revealed, indicatingthat the financial institutions have ob-ligated t
Harper's New Monthly Magazine Volume 139 June to November 1919 . $2,756,-Bank- 778,000 United States bondsof Bonds anc^ certificates of indebted-ness, in addition to carryingloans on $1,106, 708,000 ofthe same security, a total of $3,863,-486,000. The report of the Comptrollerof the Currency of March 4th last dis-closed holdings by the National banksof the country of $3,681,000,000 UnitedStates bonds and certificates of indebt-edness. In all likelihood, if the reportsof State banks were available, a similarcondition would be revealed, indicatingthat the financial institutions have ob-ligated themselves enormously in buyingand loaning upon the Government secu-rities. IT always surprises a casual observer,who gives little attention ordinarilyto financial or economic problems, tohear that there can be any serious ob-jections to the ownership by the banksand trust companies of large amounts ofsecurities of such high character as Uni-ted States bonds, but such is the the first instance, the proper func-(Continued on thirty-fifth page following). Harpers Magazine Vol. CXXXIX JULY, 1919 No. DCCCXXX
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