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banks exceptionally strong. as meeting shown that there was no mornby the clearing fact house until this acof the was determined that similar prevent ing it necessary in order to their suption was cities from increasing withdrawals other ply of currency by cash from this city. Applicable to Future Deposits. except Not therefore resolved that York "They to deposits of cash and of which New deas exchange be hereafter withdrawn made, In kind Mont- upon posit Land. can the associated banks of to limit their cash payments day exgomery one depositor to $25 per checks of any that pay rolls and pay corporations cept and industrial checks railroads be paid in cash and that the may be certified payable through will house. This action preserves needs of clearing local situation from the preserved the communities. and has needs, other supply of currency for local which is our the present stringency largeuntil as temporary and due York has ly regarded to local conditions in New ceased.' "Under the present currency for system exis no method providing to meet there the volume of money hence the extraordinary panding occasions, forty bankers of New York nearly of issuago devised the system as a years clearing house certificates from ing of necessary relief resortmethods stringencies. It was It was monetary last time in 1893 when without ed to the over the United States depositor. The general of a dollar to a of the the loss fortunate feature hapsingular stringency and is that it country has is present at time when the cotton and pened prosperous, a as the money for grain generally in crop commercial will soon and return industrial stringency busi- will ness, use in all and probability the present be of short duration. of Precedent our present in business 1893. dealers houses will and "Most many of the operations individual of the did clear- not recall that restrictions the in 1893 it beprove ing house unduly burdensome and was after understood came effective, community, and will we apprehend commend by the same people as they that action these of the banks is now certain that the then. One thing must of necessity. did New York bankers obtain bills against effort which toin order to bend every in the to import gold, normal methods and this will ward restoring cotton bills, methods handling a restoration of of banks normal in providmean part restoral of cotton. Meanon Ing the for funds be to pay stated for that Montgomery this feature while receive of it may the careful business out consideration of whereby and restrictions will some plan upon worked the if orderly not eliminated marketing matter enof cotton greatly will be, minimized: action not the having of of tirely, clearing anticipated house until the banks action became been and Mobile only been possito up known Birmingham today, this it time has to adopt preliminary ble measures." Act. Tuscaloosa, of Oct. Tuscaloosa 29- issued announc- a the to banks the public to this the morning fact the St. banks Louis, ter of ing Biriningham that New owing Cincinnati, unwilling New York to and re- in other Chicago, large money cities to are interior due banks the inpayment mit cash banks of their from balances the it city would banks. be abso- and and lutely terior that commercial because necessary welfare of this, for saw the of pay mill. this industrial rolls, iron. city should that coal to and its other for. it would be to necessary any one delimit be cared the to cash $25 payment per day. York They and further other positor that New as usual. stated checks would was be issued signed First by The National City National The and letter Bank. The Merchants The Bank and Turst Bank Company.