The Relation of the Federal Reserve Banking System to the Agricultural Depression Beginning in 1920University of Wisconsin--Madison, 1928 - 314 pages |
Common terms and phrases
agri agricultural depression Agricultural Inquiry amount August B. H. Discount Policy bank loans bank rate Banking System basic line Beckhart cent central reserve Chapter Chart commercial paper Commission of Agricultural commodities currency decrease deflation period demand deposits demand for credit discount rates discussion ECONOMIC PERIOD effect exchange expansion export Federal Reserve Act Federal Reserve Banks Federal Reserve Board Federal Reserve notes Federal Reserve System follows the market foreign market gold settlement fund Government bonds increase industry inflations and deflations interest rates issues Joint Commission June level of prices liquidation loans and discounts March market rate member banks millions of dollars National Banking Non-Agricultural open market operations Physical Volume price level progressive rates quantity of purchasing rate of interest rediscount Reserve System controls RESERVE SYSTEM RELATED result rise in prices Semi-Agricultural supply of credit Table tion Treasury Department United value of gold volume of production Wholesale Prices
Popular passages
Page 1 - An Act to provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes.
Page 18 - Any Federal reserve bank may, under rules and regulations prescribed by the Federal Reserve Board, purchase and sell in the open market, at home or abroad, either from or to domestic or foreign banks, firms, corporations, or individuals, cable transfers and bankers...
Page 18 - To buy and sell, at home or abroad, bonds and notes of the United States, and bills, notes, revenue bonds, and warrants with a maturity from date of purchase of not exceeding six months, issued in anticipation of the collection of taxes or in...
Page 3 - In selecting the members of the Board, not more than one of whom shall be selected from any one Federal Reserve district, the President shall have due regard to a fair representation of the financial, agricultural industrial, and commercial interests, and geographical divisions of the country.
Page 6 - System may prescribe, shall be operated under the supervision of a board of directors to consist of not more than seven nor less than three directors, of whom a majority of one shall be appointed by the Federal reserve bank of the district, and the remaining directors by the Board of Governors of the Federal Reserve System.
Page 24 - Federal reserve banks, including the capital stock and surplus therein, and the income derived therefrom shall be exempt from Federal, State, and local taxation, except taxes upon real estate.
Page 19 - States, and bills, notes, revenue bonds, and warrants with a maturity from date of purchase of not exceeding six months, issued in anticipation of the collection of taxes or in anticipation of the receipt of assured revenues by any State, county, district, political subdivision, or municipality in the continental United States, including irrigation, drainage and reclamation districts...
Page 23 - After all necessary expenses of a Federal reserve bank have been paid or provided for...
Page 5 - Council shall have power, by itself or through its officers, (1) to confer directly with the Federal Reserve Board on general business conditions ; (2) to make oral or written representations concerning matters within the jurisdiction of said board; (3) to call for information and to make recommendations in regard to discount rates, rediscount business, note issues, reserve conditions in the various districts, the purchase and sale of gold or securities by reserve banks...
Page 20 - That the time, manner, character and volume of open market investments purchased by Federal reserve banks be governed with primary regard to the accommodation of commerce and business, and to the effect of such purchases or sales on the general credit situation.