The Discount Policy of the Federal Reserve SystemH. Holt, 1924 - 604 páginas |
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Página 8
... tion , from the possible excess of that paper which is not convertible into Gold at will ; and the limit of this new variation is as in- definite as the excess to which that paper may be issued . " 18 2 ) The legal regulation limiting ...
... tion , from the possible excess of that paper which is not convertible into Gold at will ; and the limit of this new variation is as in- definite as the excess to which that paper may be issued . " 18 2 ) The legal regulation limiting ...
Página 13
... tion this among its various clients . Of course , this method of bringing about deflation is not , generally speaking , as good a method as the raising of the discount rate . When credit is par- celed out , borrowers will fear that they ...
... tion this among its various clients . Of course , this method of bringing about deflation is not , generally speaking , as good a method as the raising of the discount rate . When credit is par- celed out , borrowers will fear that they ...
Página 20
... tion , however , does not necessitate the conclusion that bank notes should be based entirely upon gold , or that when based entirely on gold will decline in quantity as specie is exported abroad . In the crisis of 1847 in England , the ...
... tion , however , does not necessitate the conclusion that bank notes should be based entirely upon gold , or that when based entirely on gold will decline in quantity as specie is exported abroad . In the crisis of 1847 in England , the ...
Página 24
... tion did not decline as the bullion was exported , and they tardily inaugurated a policy of contraction 73 by the rationing of credit . This had the effect , by May , 1847 , of raising the market rate of discount to 7 % on the finest of ...
... tion did not decline as the bullion was exported , and they tardily inaugurated a policy of contraction 73 by the rationing of credit . This had the effect , by May , 1847 , of raising the market rate of discount to 7 % on the finest of ...
Página 30
... tion , see Lawson , Lombard Street under Foreign Control , pp . 385–386 . With the outbreak of the Great War , specie payments were suspended in England as indeed throughout all of Europe . The author in this chapter is considering the ...
... tion , see Lawson , Lombard Street under Foreign Control , pp . 385–386 . With the outbreak of the Great War , specie payments were suspended in England as indeed throughout all of Europe . The author in this chapter is considering the ...
Outras edições - Ver todos
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...