The Discount Policy of the Federal Reserve SystemH. Holt, 1924 - 604 páginas |
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Página 2
... fact that a central bank has been able to develop a discount policy presupposes that it has a virtual monopoly of the note - issue function of the coun- try , that it holds the ultimate banking reserve and that there exists in the ...
... fact that a central bank has been able to develop a discount policy presupposes that it has a virtual monopoly of the note - issue function of the coun- try , that it holds the ultimate banking reserve and that there exists in the ...
Página 8
... fact no limit to the demands which Merchants of per- fectly good capital , and of the most prudent spirit of enterprise , may be tempted to make upon the Bank for accommodation and facilities by discount . " 19 3 ) The fall in the ...
... fact no limit to the demands which Merchants of per- fectly good capital , and of the most prudent spirit of enterprise , may be tempted to make upon the Bank for accommodation and facilities by discount . " 19 3 ) The fall in the ...
Página 16
... fact , the debtor countries were eager to import capital from England by reason of the low rates of interest prevailing in London - rates artificially low due to the large extensions of credit on the part of the joint stock banks . 47 ...
... fact , the debtor countries were eager to import capital from England by reason of the low rates of interest prevailing in London - rates artificially low due to the large extensions of credit on the part of the joint stock banks . 47 ...
Página 20
... fact , in England during the crisis of 1847 , though the bullion held by the Bank declined by nearly a half , the notes in circulation actually in- creased . Further it must be noted that bank notes issued only on deposits of specie are ...
... fact , in England during the crisis of 1847 , though the bullion held by the Bank declined by nearly a half , the notes in circulation actually in- creased . Further it must be noted that bank notes issued only on deposits of specie are ...
Página 21
... fact that a bank issues notes solely on bills of exchange growing out of actual commercial transactions does not preclude the possibility of their overissue . During an era of speculation a central bank might issue so many of its notes ...
... fact that a bank issues notes solely on bills of exchange growing out of actual commercial transactions does not preclude the possibility of their overissue . During an era of speculation a central bank might issue so many of its notes ...
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The Discount Policy of the Federal Reserve System Benjamin Haggott Beckhart Visualização completa - 1924 |
Termos e frases comuns
Agricultural Inquiry Aldrich Plan amendment American amount Annual Report April bank notes Bank of England Bank of France Bank rate bankers banking system bills of exchange borrowings bullion central banks central reserve bank certificates collateral commercial paper Commission of Agricultural Committee commodities Dallas December deflation demand deposits discount market discount policy discount rate district dollars drafts Economic eligible paper exports Federal Reserve Act Federal Reserve Bank Federal Reserve Board Federal Reserve Bulletin Federal Reserve notes Federal Reserve System Financial Chronicle fluctuations foreign exchanges funds Glass Bill Government Governor Harding Ibid imports increase inflation interest rates investment issued January Joint Commission June Kansas City Liberty bonds loans market rates member banks months national banks paper maturing period progressive rates purchased raised rates of discount rates of interest rediscount Regional Banks Reichsbank rise securities Senate speculation tion trade acceptances transactions Treasury United York
Passagens mais conhecidas
Página 160 - Notes, drafts, and bills admitted to discount under the terms of this paragraph must have a maturity at the time of discount of not more than ninety days...
Página 161 - ... sight, exclusive of days of grace, and which are indorsed by at least one member bank. "Any member bank may accept drafts or bills of exchange drawn upon it having not more than six months...
Página 172 - ... not defaulted in the payment of any part of either principal or interest of any funded debt authorized to be contracted by it, and...
Página 155 - A bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order of a specified person, or to bearer.
Página 167 - 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...
Página 168 - ... 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, such purchases to be made in accordance with rules and regulations prescribed by the Federal Reserve Board...
Página 143 - Upon the indorsement of any of its member banks, which shall be deemed a waiver of demand, notice and protest by such bank as to its own indorsement exclusively, any Federal reserve bank may discount notes, drafts, and bills of exchange...
Página 145 - 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.
Página 169 - 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...
Página 154 - Bank may discount notes, drafts, and bills of exchange arising out of actual commercial transactions; that is, notes, drafts, and bills of exchange issued or drawn for agricultural, industrial or commercial purposes, or the proceeds of which have been used, or are to be used, for such purposes...