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 13
... effect constitutes refusal to answer the question . I want to know whether you think that it is a function of the Fed- eral Reserve Board to purchase a sufficient quantity of Government securities in the event of a refunding of or a new ...
... effect constitutes refusal to answer the question . I want to know whether you think that it is a function of the Fed- eral Reserve Board to purchase a sufficient quantity of Government securities in the event of a refunding of or a new ...
Page 31
... effect on it , yes , sir , but then we had to measure the partial effect on the other circumstances . Senator DOUGLAS . The effect it had on inflation according to you was not as bad as the beneficial effect of maintaining the price of ...
... effect on it , yes , sir , but then we had to measure the partial effect on the other circumstances . Senator DOUGLAS . The effect it had on inflation according to you was not as bad as the beneficial effect of maintaining the price of ...
Page 41
... effect on the economy if there should be a substantial falling off of Government bonds ? Secretary SNYDER . That is a question I would like to answer in executive session , because I am the one and only person that is respon- sible for ...
... effect on the economy if there should be a substantial falling off of Government bonds ? Secretary SNYDER . That is a question I would like to answer in executive session , because I am the one and only person that is respon- sible for ...
Page 48
... effect has " the accord , " which you and the Federal Reserve reached , and the action which was taken by the Federal Reserve in not supporting the Government - bond market and increasing the redis- count rates to 134 from 11/2 , and ...
... effect has " the accord , " which you and the Federal Reserve reached , and the action which was taken by the Federal Reserve in not supporting the Government - bond market and increasing the redis- count rates to 134 from 11/2 , and ...
Page 49
... effect the reduction in the value of the dollar of 46.15 percent in the last 10 years has had upon the savings bond market ? Secretary SNYDER . Well , on the E bond market over the whole post war period , I do not think that the ...
... effect the reduction in the value of the dollar of 46.15 percent in the last 10 years has had upon the savings bond market ? Secretary SNYDER . Well , on the E bond market over the whole post war period , I do not think that the ...
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...