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 12
... purchase of new Government securities , but to the retention of current holdings and particularly , of course , the holdings of nonbank investors . To maintain investor confidence , inflationary or deflationary tendencies must be ...
... purchase of new Government securities , but to the retention of current holdings and particularly , of course , the holdings of nonbank investors . To maintain investor confidence , inflationary or deflationary tendencies must be ...
Page 13
... purchase a sufficient quantity of Government securities in the event of a refunding of or a new issuance of securi- ties so that the issue may go off successfully and be sold to the public at the interest rate charged ; and what you ...
... purchase a sufficient quantity of Government securities in the event of a refunding of or a new issuance of securi- ties so that the issue may go off successfully and be sold to the public at the interest rate charged ; and what you ...
Page 14
... purchase Gov- ernment securities or should not purchase Government securities in the circumstances I have outlined ? Secretary SNYDER . The Federal Reserve's policy has been to conduct their Open Market Committee operations in support ...
... purchase Gov- ernment securities or should not purchase Government securities in the circumstances I have outlined ? Secretary SNYDER . The Federal Reserve's policy has been to conduct their Open Market Committee operations in support ...
Page 15
... purchase any securities ? Why couldn't the bond issue be met by the general investment market ? Secretary SNYDER . Well , in general , I think that you have stated a very proper reason for believing that there would be no occasion , but ...
... purchase any securities ? Why couldn't the bond issue be met by the general investment market ? Secretary SNYDER . Well , in general , I think that you have stated a very proper reason for believing that there would be no occasion , but ...
Page 16
... purchase of bonds by the Federal Reserve to maintain bond prices ? Secretary SNYDER . I think that we have had to measure this each time . Of course , as you know , Senator , there was only 1 year in which there was any net Federal ...
... purchase of bonds by the Federal Reserve to maintain bond prices ? Secretary SNYDER . I think that we have had to measure this each time . Of course , as you know , Senator , there was only 1 year in which there was any net Federal ...
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...