THE periodic recurrence in the United States of severe financial crises, from which the other great nations of the world are nearly if not quite exempt, indicates that something is fundamentally wrong with our banking system and credit machinery. It is, indeed, not uncommon to hear that system denounced as the worst now to be found in any civilized land. To this extent has a glimmering of the truth begun to penetrate our minds. A few of us are beginning to sit up and rub our eyes, and to ask whether it is creditable to our prescience as a nation, or to the acumen of our men of affairs, that such an incubus upon our prosperity should be allowed to continue.

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Tags: Banking, banking system, Banks, Crash, Currency, Political Economics