Banks are not ordinarily prepared to pay out all account; they depend on depositors(储户) not to demand payment all at the same time. If depositors come to fear that a bank is not sound, that it can not pay off all its depositors, then that fear might cause all the depositor to appear on the same day .If they did, the bank could not pay all accounts. However, if they did not all appear at once, then there would always be funds to pay those who wanted their money when they wanted it. Mrs Elsie Vaught has told us of a terrifying run on the bank that she experienced.
One day in December of 1925, several banks failed to open in the city where Mrs Vaught lived. The other banks expected a run the next day, and so the officers of the bank in which Mrs Vaught worked as a teller(出纳员) had enough funds on hand to pay off as many depositors as might appear. The officer simply instructed the tellers to pay on demand. The next morning a crowd gathered in the bank and on the sidewalk outside. The length of the line made many believe that the bank could not possibly pay off everyone. People began to push and then to fight for places near the tellers’ windows. Clothing was torn, legs and arms broken, but the crowd continued for hours. The power of the panic atmosphere was so great that two tellers, though they knew that the bank was sound and could pay out all depositors, drew their own money from the bank. Mrs Vaught says that she had difficulty preventing herself from doing the same.
1. When would a bank run happen?
A. A bank is closed for one or more days.
B. Too many depositors attempts to draw out their money at the same time.
C. Other banks don’t have enough money.
D. Clerks of a bank take their own money out of the bank
2. The crowd in the bank and on the sidewalk gathered because of _________.
A. demand      B. hunger           C. doubt         D. anger
3. The basic cause of a run on the bank is __________.
A. loss of confidence    B. lack of enough funds
C. crowds of people     D. inexperienced tellers

                              You can deposit money in a building society and obtain yearly interest at a certain rate．You can also borrow money from a building society．What, then, is difference between a bank and a building society? In fact, a building society does not seem to be very different from a savings bank．Many people regularly save money by depositing small amounts monthly in a building society, just as other people regularly save money by depositing small amounts monthly in a savings bank．Some people deposit large amounts in a building society as an investment．They receive higher interest than they would receive from a savings bank; their money can be invested either in building society shares or in loans to the society．

These societies are controlled by law, but they are not government organizations．They were originally started to enable people to buy houses．One of their main purposes is to provide loans for buying or building houses．Many people prefer buying a house to paying rent, but some of them cannot afford to buy a house．To cover the cost they borrow the money from a building society．The loan plus the interest is paid back in monthly amounts over an agreed number of years．Probably the payments made in this way are no more than the rent of a rented house．But at the end of the stated period, when the debt is paid, the borrower becomes the owner of the house．To protect the building society from “bad debts” he must sign a statement to say that the house belongs to the society until the debt is paid．

A building society invests the savings of its shareholders in houses and property．Unlike a bank, it does not serve as a general clearing house （清算所） for every kind of exchange or business operation．Its activities are limited compared with those of a bank．

68．A building society is different from a bank in that ____．

         A．the former is limited in its activities

         B．the latter is limited in function compared with the former

         C．a bank doesn’t serve as a general clearing house

         D．a building society can protect itself from “bad debt”

69．Some people put large amounts of money in the building society because _______．

         A．they can get more profit than they do in a bank．

         B．they may choose between the form of building society shares and that of loans for their investment

         C．they may enjoy shares and loans at the same time

         D．they like the society

70．If you borrow money from the society to buy a house, ____．

         A．you have to return the money to the building society the moment it is needed．

         B．you have to sign an agreement to repay the loan after a number of years

         C．what you pay back monthly for the loan would be less than the rent

         D．the house doesn’t belong to you unless you have repaid all the debt

   Banks are not ordinarily prepared to pay out all account; they depend on depositors(储户) not to demand payment all at the same time. If depositors come to fear that a bank is not sound, that it can not pay off all its depositors, then that fear might cause all the depositor to appear on the same day .If they did, the bank could not pay all accounts. However, if they did not all appear at once, then there would always be funds to pay those who wanted their money when they wanted it. Mrs Elsie Vaught has told us of a terrifying run on the bank that she experienced.

  One day in December of 1925, several banks failed to open in the city where Mrs Vaught lived. The other banks expected a run the next day, and so the officers of the bank in which Mrs Vaught worked as a teller(出纳员) had enough funds on hand to pay off as many depositors as might appear. The officer simply instructed the tellers to pay on demand. The next morning a crowd gathered in the bank and on the sidewalk outside. The length of the line made many believe that the bank could not possibly pay off everyone. People began to push and then to fight for places near the tellers’ windows. Clothing was torn, legs and arms broken, but the crowd continued for hours. The power of the panic atmosphere was so great that two tellers, though they knew that the bank was sound and could pay out all depositors, drew their own money from the bank. Mrs Vaught says that she had difficulty preventing herself from doing the same.

1. When would a bank run happen?

A. A bank is closed for one or more days.

B. Too many depositors attempts to draw out their money at the same time.

C. Other banks don’t have enough money.

D. Clerks of a bank take their own money out of the bank

2. The crowd in the bank and on the sidewalk gathered because of _________.

A. demand      B. hunger           C. doubt         D. anger

3. The basic cause of a run on the bank is __________.

A. loss of confidence    B. lack of enough funds

C. crowds of people     D. inexperienced tellers

D
You can deposit money in a building society and obtain yearly interest at a certain rate．You can also borrow money from a building society．What, then, is difference between a bank and a building society? In fact, a building society does not seem to be very different from a savings bank．Many people regularly save money by depositing small amounts monthly in a building society, just as other people regularly save money by depositing small amounts monthly in a savings bank．Some people deposit large amounts in a building society as an investment．They receive higher interest than they would receive from a savings bank; their money can be invested either in building society shares or in loans to the society．
These societies are controlled by law, but they are not government organizations．They were originally started to enable people to buy houses．One of their main purposes is to provide loans for buying or building houses．Many people prefer buying a house to paying rent, but some of them cannot afford to buy a house．To cover the cost they borrow the money from a building society．The loan plus the interest is paid back in monthly amounts over an agreed number of years．Probably the payments made in this way are no more than the rent of a rented house．But at the end of the stated period, when the debt is paid, the borrower becomes the owner of the house．To protect the building society from “bad debts” he must sign a statement to say that the house belongs to the society until the debt is paid．
A building society invests the savings of its shareholders in houses and property．Unlike a bank, it does not serve as a general clearing house （清算所） for every kind of exchange or business operation．Its activities are limited compared with those of a bank．
68．A building society is different from a bank in that ____．
A．the former is limited in its activities
B．the latter is limited in function compared with the former
C．a bank doesn’t serve as a general clearing house
D．a building society can protect itself from “bad debt”
69．Some people put large amounts of money in the building society because _______．
A．they can get more profit than they do in a bank．
B．they may choose between the form of building society shares and that of loans for their investment
C．they may enjoy shares and loans at the same time
D．they like the society
70．If you borrow money from the society to buy a house, ____．
A．you have to return the money to the building society the moment it is needed．
B．you have to sign an agreement to repay the loan after a number of years
C．what you pay back monthly for the loan would be less than the rent
D．the house doesn’t belong to you unless you have repaid all the debt

   Banks are not ordinarily prepared to pay out all account; they depend on depositors(储户) not to demand payment all at the same time. If depositors come to fear that a bank is not sound, that it can not pay off all its depositors, then that fear might cause all the depositor to appear on the same day .If they did, the bank could not pay all accounts. However, if they did not all appear at once, then there would always be funds to pay those who wanted their money when they wanted it. Mrs Elsie Vaught has told us of a terrifying run on the bank that she experienced.

  One day in December of 1925, several banks failed to open in the city where Mrs Vaught lived. The other banks expected a run the next day, and so the officers of the bank in which Mrs Vaught worked as a teller(出纳员) had enough funds on hand to pay off as many depositors as might appear. The officer simply instructed the tellers to pay on demand. The next morning a crowd gathered in the bank and on the sidewalk outside. The length of the line made many believe that the bank could not possibly pay off everyone. People began to push and then to fight for places near the tellers’ windows. Clothing was torn, legs and arms broken, but the crowd continued for hours. The power of the panic atmosphere was so great that two tellers, though they knew that the bank was sound and could pay out all depositors, drew their own money from the bank. Mrs Vaught says that she had difficulty preventing herself from doing the same.

1. When would a bank run happen?

A. A bank is closed for one or more days.

B. Too many depositors attempts to draw out their money at the same time.

C. Other banks don’t have enough money.

D. Clerks of a bank take their own money out of the bank

2. The crowd in the bank and on the sidewalk gathered because of _________.

A. demand      B. hunger           C. doubt         D. anger

3. The basic cause of a run on the bank is __________.

A. loss of confidence    B. lack of enough funds

C. crowds of people     D. inexperienced tellers