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DETAILED CONTENTS xxvii
SPECULATION AND RESERVE POLICY 192729
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acceptances accommodation additional adequate advances Agricultural amount apparently authorities balances Bank rate Banking Systems bills Board borrowing C.F.Chr cash cent changes charged Committee concerning Conference considered continued currency demand deposits determine discount rate discussion districts early earning assets Economic effective eligible excess fact Federal reserve banks Federal Reserve Board Federal Reserve System Finance followed funds given gold Governor Harding Hearings held higher Ibid important increase indebtedness influence introduced investments issue later lending less limited liquidation loans loss March market rates member banks ments millions money market movements necessary notes objective obtained October officials open market operations penalty rates period pointed position possible presented problem Proceedings purchases question raised rediscounts reduction relation Report requirements responsibility result securities Senate speculative stability statement Strong supplies theory tion Treasury uniform United volume York Bank