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Letter of Hon Wright Patman to chairman
Answers by the Secretary of the Treasury to questions submitted during
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accounts action allotments amount Answer assets average banking system beneﬁts bids billion Board of Governors borrowing capital cash balances central Reserve city certiﬁcates Chairman changes commercial banks Committee competitive consumer corporate cost credit markets dealers debt management deﬁcit demand deposits discount dollar economic effect expansion factors Federal Reserve Act Federal Reserve banks Federal Reserve System ﬁgures ﬁnancial ﬁnancing ﬁnd ﬁrms ﬁscal ﬂexible ﬂow funds gold Government securities growth income increase individual industry inﬂation inﬂationary inﬂuence interest rates investment investors loans long-term maturity member bank reserve ment monetary policy money supply needs offering open market open market operations operations payments percent period present purchases reduce reﬂected relatively reply to question required reserves Reserve city banks reserve requirements rise savings short-term signiﬁcant speciﬁc steel subscriptions tend tion Treasury bills Treasury issues Treasury securities Treasury’s U.S. Government velocity wage yields