Government Ownership of the Twelve Federal Reserve Banks: Hearings Before the Committee on Banking and Currency, House of Representatives, Seventy-fifth Congress, Third Session, on H.R. 7230, a Bill Providing for Government Ownership of the Twelve Federal Reserve Bands and for Other Purposes. March 2, 3, 4, 14, 15, 16, 17, 21, 22, 23, 24, 28, 31, April 5, 6, 7, 12, 13, 19, 1938U.S. Government Printing Office, 1938 - 508 pages |
Common terms and phrases
12 Federal Reserve amendment assets bank credit bankers banking system believe BINDERUP Board of Governors bonds central banking chairman commercial commodity Congress contraction corporations CRAWFORD currency Dean PHILLIPS demand bank deposits demand deposits depression directors economic economists effect excess reserves expansion Federal Reserve banks Federal Reserve Board Federal Reserve notes Federal Reserve System finance FORD GIFFORD Goldsborough bill GOODBAR Government ownership Governor ECCLES increase industry inflation interest investment issue loans LUCE mandate MCKEOUGH mean member banks ment monetary policy money supply National Bank open-market committee opinion Patman bill percent present President price level production Professor FISHER Professor LEFFLER Professor SPAHR profits purchasing power question RANSOM Reginald McKenna regulate the value REILLY reserve requirements securities Senator Owen silver SPENCE stability statement thing tion TRANSUE Treasury United University value of money WILLIAMS York
Popular passages
Page 433 - I have a numb.er of questions that I would like to ask the Secretary but if the Secretary has not the time I will defer it.
Page 11 - I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed.
Page 172 - System shall consist of fifteen members, including the Secretary of the Treasury, the Comptroller of the Currency, and the Chairman of the Board of...
Page 3 - Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled. That it is hereby declared to be the policy of the Congress...
Page 80 - ... unprecedented economic and social distress the Democratic Party declares its conviction that the chief causes of this condition were the disastrous policies pursued by our Government since the World War, of economic isolation, fostering the merger of competitive businesses into monopolies and encouraging the indefensible expansion and contraction of credit for private profit at the expense of the public.
Page 182 - We favor the declaration by law of the conditions upon which corporations shall be permitted to engage in interstate trade, Including, among others, the prevention of holding companies, of Interlocking directors, of stock watering, of discrimination In price and the control by any one corporation of so large a proportion of any Industry as to make it a menace to competitive conditions.
Page 3 - Notwithstanding the other provisions of this section, the Board of Governors of the Federal Reserve System, upon the affirmative vote of not less than four of its members, in order to prevent injurious credit expansion or contraction, may by regulation change the requirements as to reserves to be maintained against demand or time deposits or both by member banks...
Page 10 - SEC. 2. (a) Upon the approval of this Act all right, title, and interest, and every claim of the Federal Reserve Board, of every Federal Reserve bank, and of every Federal Reserve agent, in and to any and all gold coin and gold bullion shall pass to and are hereby vested in the United States ; and in payment therefor credits...
Page 187 - The Constitution provides that Congress shall have the power to coin money and regulate the value thereof.
Page 10 - The Nature and Necessity of a Paper Currency." It was well received by the common people in general ; but the rich men disliked it, for it increased and strengthened the clamor for more money ; and, they happening to have no writers among them that were able to answer it, their opposition slackened, and the point was carried by a majority in the House. My friends there, who...