A method should be devised to make available quickly to depositors some
portion of their deposits in closed banks as the assets of such banks may
warrant. Such provision would go far to relieve distress in a multitude of
families, would stabilize values in many communities, and would liberate
working capital to thousands of concerns. I recommend that measures be
enacted promptly to accomplish these results and I suggest that the
Congress should consider the development of such a plan through the Federal
Reserve Banks.