Supplementary Bond Legislation ...: Hearing ... September 12, 19181918 - 39 pages |
From inside the book
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Page 6
... desirable at this time that the President should be empowered to investigate , regulate , or prohibit not only the export or ear- marking of gold or silver coin or bullion or currency but also the hoarding or melting thereof . Last ...
... desirable at this time that the President should be empowered to investigate , regulate , or prohibit not only the export or ear- marking of gold or silver coin or bullion or currency but also the hoarding or melting thereof . Last ...
Page 7
... desirable . The CHAIRMAN . The Federal reserve banks dispose of these to other banks in their districts , whether State or National ? Mr. LEFFINGWELL . To the State and National banks ; and in order to get the attractiveness of these ...
... desirable . The CHAIRMAN . The Federal reserve banks dispose of these to other banks in their districts , whether State or National ? Mr. LEFFINGWELL . To the State and National banks ; and in order to get the attractiveness of these ...
Page 15
... desirable than the 3 per cents for very rich people . Mr. LEFFINGWELL . That is another thing , Mr. Garner . These cer- tificates are the most attractive security the United States offers . They are payable on 10 days ' notice at par ...
... desirable than the 3 per cents for very rich people . Mr. LEFFINGWELL . That is another thing , Mr. Garner . These cer- tificates are the most attractive security the United States offers . They are payable on 10 days ' notice at par ...
Page 17
... desirable that even those whose taxes are meas- ured in small amounts should be preparing themselves to meet these payments , and that it will be to their advantage to participate in purchases of this issue of Treasury certificates ...
... desirable that even those whose taxes are meas- ured in small amounts should be preparing themselves to meet these payments , and that it will be to their advantage to participate in purchases of this issue of Treasury certificates ...
Page 23
... desirable . Mr. STERLING . You do not think you are going to collect eight billion dollars of taxes for very many years after this war closes , do you ? Mr. LEFFINGWELL . No ; I do not . Mr. STERLING . Do you think the limitation ...
... desirable . Mr. STERLING . You do not think you are going to collect eight billion dollars of taxes for very many years after this war closes , do you ? Mr. LEFFINGWELL . No ; I do not . Mr. STERLING . Do you think the limitation ...
Common terms and phrases
Argentina August August 20 authorized believe billion bond bill bondholders bonds and certificates borrow capital and surplus cent certificates of indebtedness CHAIRMAN CLAUDE KITCHIN Comptroller Currency earmark estimated exceed exchange exemption from surtaxes expenditures Federal reserve banks Federal reserve district FORDNEY fourth liberty loan fourth loan FRANKLIN GARNER gold Government bonds holders income and profits income taxes increase India issued in anticipation LEFFINGWELL liberty bonds liberty loan converted limit loan organization LONGWORTH maturity value means MOORE national war savings necessary notes secured Ohio payable payment pesetas profits taxes Quota RAINEY rate of interest Results of third rules and regulations savings committee savings organization Secretary McAdoo secured by liberty situation sold Spain STERLING subscribed surtax rates taxation taxpayer third Liberty loan tion Total TREADWAY Treasury certificates Treasury Department United States dollar Vanderlip war-savings certificates war-savings stamps wise
Popular passages
Page 38 - States, shall (except to the extent permitted by rules and regulations prescribed by the Comptroller of the Currency, with the approval of the Secretary of the Treasury) be subject under this section to a limitation of 15 per centum of such capital and surplus in addition to such 10 per centum of such capital and surplus.
Page 37 - 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.
Page 18 - Any and all notes, debentures, bonds or other such obligations issued by the corporation shall be exempt both as to principal and Interest from all taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter imposed by the United States, by any territory, dependency or possession thereof, or by any state, county, municipality or local taxing authority.
Page 19 - ... and war-profits taxes, now or hereafter imposed by the United States, upon the income or profits of individuals, partnerships, corporations, or associations. The interest on an amount of such bonds the principal of which does not exceed in the aggregate...
Page 18 - Corporation shall be exempt, both as to principal and interest, from all taxation now or hereafter imposed by the United States, any State, or any of the possessions of the United States...
Page 34 - That the President may investigate, regulate, or prohibit, under such rules and regulations as he may prescribe, by means of licenses or otherwise, any transactions in foreign exchange, export or ear-markings of gold or silver coin or bullion or currency...
Page 38 - That the total liabilities to any association, of any person, or of any company, corporation, or firm for money borrowed, including in the liabilities of a company or firm the liabilities of the several members thereof, shall at no time exceed one-tenth part of the amount of the capital stock of such association actually paid in...
Page 19 - General provisions. As fiscal agents of the United States, Federal Reserve Banks are authorized and requested to perform any necessary acts under this circular.
Page 6 - The idea that a special exemption should be granted to foreign investors in United States bonds first appeared in section 3 of the Fourth Liberty Bond Act of July 9, 1918, 40 Stat. 845. This provided : "SEC. 3. That notwithstanding the provisions of the Second Liberty Bond Act, as amended by the Third Liberty Bond Act, or of the War Finance Corporation Act, bonds and certificates of indebtedness of the United States payable in any foreign money or foreign moneys, and bonds of the War Finance Corporation...
Page 3 - JOSEPH W. FORDNEY, Michigan. J. HAMPTON MOORE, Pennsylvania. WILLIAM R. GREEN, Iowa. CHARLES H. SLOAN, Nebraska. NICHOLAS LONGWORTH, Ohio. GEORGE W. FAIRCHILD, New York. JOHN A. STERLING, Illinois. WHITMELL P. MARTIN, Louisiana. WILLIS C. HAWLEY, Oregon. ALLEN T. TREADWAY, Massachusetts.