Anti-inflation Program as Recommended in the President's Message of November 17, 1947. Hearings Before the Joint Committee on the Economic Report, Congress of the United States, Eightieth Congress, First Session, Pursuant to Sec. 5 (A) of Public Law 304, 79th Congress...U.S. Government Printing Office, 1948 - 643 páginas Considers proposals to tighten Federal control of consumer credit, increase Federal regulation of futures trading of commodity exchanges, and extend Federal authority to control the allocation, inventory, and transport of scarce commodities. |
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Página 135
... banking system , including those purchased by the Federal Reserve banks . As the Reserve Board stated in its 1945 annual report to Congress , it is important to bear in mind that borrowing from the banking sys- tem , whether by the ...
... banking system , including those purchased by the Federal Reserve banks . As the Reserve Board stated in its 1945 annual report to Congress , it is important to bear in mind that borrowing from the banking sys- tem , whether by the ...
Página 136
... banks . The vast money supply thus created was held in check by an elab- orate harness of controls consisting , among other things , of allocations of scarce materials , construction permits , price and wage ceilings , rationing , and ...
... banks . The vast money supply thus created was held in check by an elab- orate harness of controls consisting , among other things , of allocations of scarce materials , construction permits , price and wage ceilings , rationing , and ...
Página 138
... banks or absorbs reserves . Reserves are the foundation on which bank credit is built . If banks have no reserves they cannot lend . But they can obtain re- serves when they borrow from the Federal Reserve banks or sell Government ...
... banks or absorbs reserves . Reserves are the foundation on which bank credit is built . If banks have no reserves they cannot lend . But they can obtain re- serves when they borrow from the Federal Reserve banks or sell Government ...
Página 139
... banks can obtain reserves at will by selling such securities out of their portfolios . Suppose then that the System refused to buy the securities , and that is the heart of the matter , what would be the consequences ? Bear in mind that ...
... banks can obtain reserves at will by selling such securities out of their portfolios . Suppose then that the System refused to buy the securities , and that is the heart of the matter , what would be the consequences ? Bear in mind that ...
Página 140
... banks would acquire an equivalent volume of new reserves . On the basis of these reserves , the banks could expand credit by about six times , or by more than $ 200,000,000,000 . This is nearly double the present net demand deposits and ...
... banks would acquire an equivalent volume of new reserves . On the basis of these reserves , the banks could expand credit by about six times , or by more than $ 200,000,000,000 . This is nearly double the present net demand deposits and ...
Términos y frases comunes
Agriculture allocation amount areas authority bank credit bank reserves bankers believe Board bonds BROWN bushels cars cash CATE cents CHAIRMAN CHAPMAN coal cocoa committee Commodity Credit Corporation Commodity Exchange Commodity Exchange Act Congress consumer cotton crop debt demand deposits Department ECCLES economy effect excess expansion export controls farmers FARRINGTON Federal Reserve Board Federal Reserve System feed futures contracts futures market going Government securities grain exchanges hedging important increase industry inflation inflationary limited loans margin requirements MCCLINTOCK MEHL ment million operations percent present President production proposed purchase question reduce Representative HORAN result Secretary ANDERSON Secretary HARRIMAN sell Senator FLANDERS Senator KEM Senator MYERS Senator O'MAHONEY Senator SPARKMAN Senator WATKINS shortage situation SKYBERG special reserve requirement speculation statement steel STURTEVANT sugar supply thing tion tons trade Treasury UHLMANN United wheat
Pasajes populares
Página 90 - The CHAIRMAN. Are there any other questions? If not, we thank you very much, Mr.
Página 68 - ... consisting of the Secretary of Agriculture, the Secretary of Commerce, and the Attorney General...
Página 639 - For the reasons hereinafter enumerated, transactions in securities as commonly conducted upon securities exchanges and over-the-counter markets are affected with a national public interest which makes it necessary to provide for regulation and control of such transactions and of practices and matters related thereto...
Página 18 - Such record shall be required to be kept for a period of three years from the date thereof, or for a longer period if the Secretary of Agriculture shall so direct, and shall at all times be open to the inspection of any representative of the United States Department of Agriculture or United States Department of Justice.
Página 247 - The Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Federal Home Loan Bank Board...
Página 599 - OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, THE PRESIDENTS OF THE FEDERAL RESERVE BANKS, AND THE FEDERAL ADVISORY COUNCIL •{Reprinted from Federal Reserve Bulletin for January 1941.
Página 165 - I thank you, gentlemen. Senator SMITH. Mr. Thomas, there are two or three questions I would like to ask you. You believe strongly, I take it, in public education or schools supported by taxation ? Mr. THOMAS. Believe in it? Why, Senator, it is the salvation of the country. Senator SMITH. What do you think would be the proportion of the children who would not be educated at all if our public-school system...
Página 98 - We have two important witnesses. (Thereupon at 12:30 pm a recess was taken until 3 pm of the same day.) AFTERNOON SESSION The committee reconvened at 3 pm upon the expiration of the recess. The CHAIRMAN. The committee will come to order.
Página 601 - Such acquisitions should be insulated from the credit systems, and, once insulated, it 'would be advisable if they were not restored to the credit system except after consultation with the Federal Open Market Committee. 4. The financing of both the ordinary requirements of Government and the extraordinary needs of the defense program should be accomplished by drawing upon the existing large volume of deposits rather than by creating additional deposits through bank purchases of Government securities....
Página 18 - ... orders for the purchase or sale of any commodity for future delivery on or subject to the rules of any board of trade...