Banking: A New Set of Priorities

Americans have lately gone on a savings spree. So far this year, they have been salting away 7.10 of each dollar —a nine-year high and far above the 5.50 considered normal. Deposits have been rising at an annual rate of 17% at commercial banks, setting new records for eight months running at savings banks. The nation's savings and loan associations, which were left dry by a net outflow of $1.4 billion in July 1966 because of the money crisis, last week reported a healthy $64 million increase in funds for July 1967.

The...

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