Monetary Policy and the Management of the Public Debt: Hearings Before the Subcommittee on General Credit Control and Debt Management ... 82-2, ... March 10 ... 31, 19521952 - 993 pages |
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Page 18
... Reserve buys securities from the banks , why , it is- Senator DOUGLAS . Let us take the situation when Federal Reserve buys from the banks or private security dealers . Secretary SNYDER . When it buys from a bank , of course , it will ...
... Reserve buys securities from the banks , why , it is- Senator DOUGLAS . Let us take the situation when Federal Reserve buys from the banks or private security dealers . Secretary SNYDER . When it buys from a bank , of course , it will ...
Page 20
... Reserve is asked to buy large quantities of Government securities in the open market , does it not create added bank reserves in the Federal Reserve System , and the answer to that has been " Yes " ; isn't that correct ? Secretary ...
... Reserve is asked to buy large quantities of Government securities in the open market , does it not create added bank reserves in the Federal Reserve System , and the answer to that has been " Yes " ; isn't that correct ? Secretary ...
Page 21
... Reserve System to purchase large quantities of Gov- ernment securities ; but the purchase of these large quantities leads to inflation , by adding to the reserves , and hence the lending capacity of banks . Now , then , you stated that ...
... Reserve System to purchase large quantities of Gov- ernment securities ; but the purchase of these large quantities leads to inflation , by adding to the reserves , and hence the lending capacity of banks . Now , then , you stated that ...
Page 25
... Reserve System after Korea result in an increase in bank reserves in the Federal Re- serve System ? Secretary SNYDER . I will be glad to read this into the record . Senator DOUGLAS . Mr. Chairman , I suggest that this is not an ap ...
... Reserve System after Korea result in an increase in bank reserves in the Federal Re- serve System ? Secretary SNYDER . I will be glad to read this into the record . Senator DOUGLAS . Mr. Chairman , I suggest that this is not an ap ...
Page 26
... bank loans , and the bank loans would not have been obtained unless bank reserves had been expanded through the purchase of additional securities by the Reserve System . It was the purchase by the Reserve System of the securities which made ...
... bank loans , and the bank loans would not have been obtained unless bank reserves had been expanded through the purchase of additional securities by the Reserve System . It was the purchase by the Reserve System of the securities which made ...
Common terms and phrases
agencies amount answer bank credit bank loans bank reserves bankers believe billion Board of Governors borrowing budget central bank Chairman changes commercial banks Congress Council of Economic credit control credit policy debt management defense deficit demand deposits discussion dollar Economic Advisers effect employment executive expansion factor Federal Reserve banks Federal Reserve Board Federal Reserve System financing fiscal funds going gold Government bonds Government securities important income increase inflation inflationary pressures interest rates investment issue KEYSERLING Korea lenders lending MARTIN member banks ment monetary policy money supply MURPHY Open Market Committee operations percent period President price level problem production public debt purchase question Representative BOLLING Representative PATMAN Representative WOLCOTT reserve requirements responsibility rise savings Secretary SNYDER Senator DOUGLAS Senator FLANDERS situation spending SPROUL stability statement subcommittee taxes things tion Treasury Treasury securities voluntary credit restraint
Popular passages
Page 794 - Government to use all practicable means consistent with its needs and obligations and other essential considerations of national policy, with the assistance and cooperation of industry, agriculture, labor, and State and local governments, to coordinate and utilize all its plans, functions, and resources for the purpose of creating and maintaining, in a manner calculated to foster and promote free competitive enterprise and the general welfare, conditions under which there will be afforded useful...
Page 441 - Congress hereby declares that it is the continuing policy and responsibility of the Federal Government to use all practicable means consistent with its needs and obligations and other essential considerations of national policy, with the assistance and cooperation of industry, agriculture, labor, and State and local governments, to coordinate and utilize all its plans, functions, and resources for the purpose of creating and maintaining, in a manner calculated to foster and promote free competitive...
Page 153 - I am inviting a group of our leading bankers to meet with me, the Secretary of the Treasury and the Chairman of the Federal Reserve Board in the near future.
Page 76 - The doctrine of the separation of powers was adopted by the Convention of 1787, not to promote efficiency but to preclude the exercise of arbitrary power. The purpose was, not to avoid friction, but, by means of the inevitable friction incident to the distribution of the governmental powers among three departments, to save the people from autocracy.
Page 474 - Section of the Division of Research and Statistics of the Board of Governors of the Federal Reserve System.
Page 537 - One aspect of this movement was a growing dissatisfaction with the empty formalism of much educational content in the latter part of the nineteenth century and the early part of the twentieth century; with stultifying drill and catechism-like methods of teaching; with the curriculum's lack of relatedness to the everyday experience of the child, his physical world, and social environment; and with pupils' rote verbalization and memorization of ideas for which they had no adequate referents in experience.
Page 123 - DIDC consists of the Secretary of the Treasury, the Chairman of the Board of Governors of the Federal Reserve System, the Chairman of the Board of...
Page 744 - President. But it would be an alarming doctrine that Congress cannot impose upon any executive officer any duty they may think proper, which is not repugnant to any rights secured and protected by the constitution; and in such cases, the duty and responsibility grow out of and are subject to the control of the law, and not to the direction of the President.
Page 86 - Act of 1946; and (2) it is the will of Congress that the primary power and responsibility for regulating the supply, availability and cost of credit in general shall be vested in the duly constituted authorities of the Federal Reserve...
Page 3 - Monetary Policy and the Management of the Public Debt, Report of the Subcommittee on General Credit Control and Debt Management of the Joint Committee on the Economic Report, Congress of the United States, Senate Document No. 163, 82d Cong., 2d Sess. Washington: United States Government Printing Office, 1952. Monetary Policy and the Management of the Public Debt...