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The Value of Money

Note 479 — Chapter XXII

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"In New York, for instance, loans by banks 'on call' are subject to repayment within an hour or two after notice is given that repayment is desired." Conant, Principles of Money and Banking, vol. II, p. 56. In general, the banks are content if the loan is repaid by 3 o'clock on the day it is called.

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