名人英语演讲稿:The Banking Crisis

名人英语演讲稿:The Banking Crisis

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时间:2018-09-29

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1、名人英语演讲稿:TheBankingCrisis  myfriends:  iwanttotalkforafewminuteswiththepeopleoftheunitedstatesaboutbanking--totalkwiththecomparativelyfewwhounderstandthemechanicsofbanking,butmoreparticularlywiththeoverwhelmingmajorityofyouwhousebanksforthemakingofdepositsandthedrawingofchecks.  iwantto

2、tellyouwhathasbeendoneinthelastfewdays,andwhyitwasdone,andwhatthenextstepsaregoingtobe.irecognizethatthemanyproclamationsfromstatecapitolsandfromwashington,thelegislation,thetreasuryregulations,andsoforth,couchedforthemostpartinbankingandlegalterms,outtobeexplainedforthebenefitoftheave

3、ragecitizen.iowethis,inparticular,becauseofthefortitudeandthegoodtemperwithwhicheverybodyhasacceptedtheinconvenienceandhardshipsofthebankingholiday.andiknowthatwhenyouunderstandwhatweinwashingtonhavebeenabout,ishallcontinuetohaveyourcooperationasfullyasihavehadyoursympathyandyourhelpdu

4、ringthepastweek.  firstofall,letmestatethesimplefactthatwhenyoudepositmoneyinabank,thebankdoesnotputthemoneyintoasafedepositvault.itinvestsyourmoneyinmanydifferentformsofcredit--inbonds,incommercialpaper,inmortgagesandinmanyotherkindsofloans.inotherwords,thebankputsyourmoneytoworktokee

5、pthewheelsofindustryandofagricultureturningaround.acomparativelysmallpartofthemoneythatyouputintothebankiskeptincurrency--anamountwhichinnormaltimesiswhollysufficienttocoverthecashneedsoftheaveragecitizen.inotherwords,thetotalamountofallthecurrencyinthecountryisonlyacomparativelysmallp

6、roportionofthetotaldepositsinallthebanksofthecountry.  what,then,happenedduringthelastfewdaysoffebruaryandthefirstfewdaysofmarch?becauseofunderminedconfidenceonthepartofthepublic,therewasageneralrushbyalargeportionofourpopulationtoturnbankdepositsintocurrencyorgold--arushsogreatthatthe

7、soundestbankscouldn'tgetenoughcurrencytomeetthedemand.thereasonforthiswasthatonthespurofthemomentitwas,ofcourse,impossibletosellperfectlysoundassetsofabankandconvertthemintocash,exceptatpanicpricesfarbelowtheirrealvalue.bytheafternoonofmarchthird,aweekagolastfriday,scarcelyabankinthe

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