The Development of Federal Reserve PolicyHoughton Mifflin, 1922 - 352 pages |
Other editions - View all
Common terms and phrases
Accordingly advances agricultural amendment American amount assets bank acceptance bank credit bank notes bank's bankers bills of exchange bonds borrower Bulletin buyer cent central bank central reserve charges checks drawn circulation clear collateral Commercial and Financial commercial paper commodity coöperation country banks currency customers December demand deposits desire difficulty discount rates district dollar double-name draft effect eligible for rediscount eligible paper expansion Federal Reserve Act Federal Reserve Banks Federal Reserve Board Federal Reserve notes Federal Reserve system Financial Chronicle foreign funds gold Government industrial institutions investment June June 21 liquid loans matter maturity member banks ment methods national banks necessary non-member note issues open-market operations period permitted Pittman Act possible production provisions purchase purpose regulations render reserve administration reserve agents reserve money reserve ratio reserve system section 13 situation statute tion trade acceptance transactions Treasury volume
Popular passages
Page 193 - 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 135 - Any national banking association not situated in a central reserve city may make loans secured by improved and unencumbered farm land...
Page 224 - Demand deposits within the meaning of this Act shall comprise all deposits payable within thirty days, and time deposits shall comprise all deposits payable after thirty days, and all savings accounts and certificates of deposit which are subject to not less than thirty days
Page 192 - 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' acceptances and bills of exchange of the kinds and maturities by this act made eligible for rediscount, with or without the indorsement of a member bank.
Page 125 - But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by the person negotiating the same, shall not be considered as money borrowed.
Page 66 - Any State bank or trust company desiring to withdraw from membership in a Federal reserve bank may do so, after six months...
Page 230 - The plates and dies to be procured by the Comptroller of the Currency for the printing of such circulating notes shall remain under his control and direction, and the expenses necessarily incurred in executing the laws...
Page 191 - 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 287 - Accordingly we find that in every kingdom into which money begins to flow in greater abundance than formerly, everything takes a new face; labour and industry gain life; the merchant becomes more enterprising, the manufacturer more diligent and skilful, and even the farmer follows his plough with greater alacrity and attention.
Page 100 - Any Federal reserve bank may make advances to its member banks on their promissory notes for a period not exceeding fifteen days at rates to be established by such Federal reserve banks, subject to the review and determination of the Federal Reserve Board, provided such promissory notes are secured by such notes, drafts, bills of exchange, or bankers...