The aggregate of money upon the persons of men. women and grownup children of our country is enormous. The same is true of thesums which are in nooks and corners and hidden recesses of the homes of our people. Immigrants from Europe who spend little and save nearly all their earnings. to live in ease at home the rest of their lives. send abroad annually about $250.000.000. of which it is estimated nearly one hundred millions in cash are carried by those returning. Twentyfive thousand millions of current business was confronted. when loss of confidence impaired credits. with the peril that it must have nearly the equivalent of thirteen billions of deposits in cash to go ahead. and millions of depositors wanted at once to draw out to hoard or to hold in safedeposit. boxes for pay rolls all of that less than one thousand five hundred millions of currency available. For three days the most prosperous and progressive of peoples. at the high tide of the most wonderful prosperity of their marvelous material development. were on the brink of the most destructive and widespread financial and industrial breakdown ever experienced.
Identified stereotypes
Immigrants from Europe spend little and save nearly all their earnings, to live in ease at home the rest of their lives.