The amount of money in circulation normally declines the first week in January. But last week, in the biggest drop since 1933, it fell off $150,000,000. There was still the enormous sum of $28½ billion in circulation. Nevertheless, Manhattan bankers sniffed a trend. They suspected that the currency in circulation, which has almost tripled since 1941, may have reached its peak. But the Federal Reserve Bank was not willing to do any predicting. It was well aware that the peak after World War I was not reached till 1920.
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