Publisher's Synopsis
Excerpt from Labour and Social Credit: A Report on the Proposals of Major Douglas and the "New Age"
The only municipal bank of the type that we have in view at present in existence in this country is the Birmingham Municipal Bank, established in 1919 to receive deposits at interest, make advances to depositors for the purchase of property, and generally to perform the functions of a savings bank municipally owned and controlled. The bank has had a most successful history up to the present. The amount standing to the credit of depositors on March 31, 1921, was as against twelve months previously. This increase is particularly noteworthy in view of the severe depression of trade and the steady increase in unemployment in the City which have characterised the year.
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