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World at a Glance highlights debate on bank depositors
In Detroit Judge Arthur J. Tuttle warned that some depositors in a closed First National Bank case “ought to be congratulated” for their funds tied up. The piece notes declines in life insurance in 1932 and widespread cash hoarding amid deflation, with $4.096 billion drop in policy amounts and only modest cash available for investment.
MENTIONED IN THIS ARTICLE
New York
Arthur J. Tuttle
Detroit
Tuttle
First National Bank of Detroit
Banic
Judge Tuttle
People’s State Bank
Leslie Mich
United States