Der Haushalt des Kaufmannsgehilfen

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Monograph

Identifikator:: 178040560X

URN:: urn:nbn:de:zbw-retromon-168007

Document type:: Monograph

Title:: Der Haushalt des Kaufmannsgehilfen

Place of publication:: Hamburg

Publisher:: Deutschnationaler Handlungsgehilfen-Verband

Year of publication:: 1927

Scope:: 64 Seiten, [12] Blätter

Digitisation:: 2021

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: 3. Die persönlichen und beruflichen Verhältnisse der Familien

Collection:: Economics Books

50 COMMITTEE REPORT Inforaptien To insure the desirable type of criticism, it is essential that the Troggs Srivisten public be provided with ample information relative to the activities Policies of the reserve banks. The amount of valuable credit information, statistical and otherwise, supplied by the federal reserve system is far beyond that furnished by foreign central banks. For this accom- plishment, the reserve administration is to be commended. But in providing the country with official or semi-official explanations of the basic purposes of major policies, much yet remains to be done. The scheme of twelve regional banks and the division of respon- sibility between the Federal Reserve Board and the district officials increases the difficulty of supplying the public with the desired inter- pretations of reserve policies. It is to be recognized that various officials may support the same measure from different points of view and that to secure agreement upon the factors to be emphasized may create discord within the system. The further fact that a certain measure might accomplish one useful purpose, but not precisely that originally avowed. must also serve to retard explanation. Difficulties Recognized Possibilities if Difficulties Not Overcome But despite the difficulties attendant upon complete statements of intent, no secretive policy will succeed in securing approval for the reposal in the reserve administration of a large degree of dis- cretionary power. An ill-informed public will demand precise statu- tory limitations. Without ample knowledge, public criticism cannot be intelligent and beneficial. The more abundant the information and the sharper drawn the issues, the less fertile becomes the field in which charges of ulterior motives can be sown. When ignorance abounds, the arena belongs to the careless. the radical. and the irre- sponsible. [11-Advised Critics With general discussion of reserve problems lifted to a higher plane, ill-advised critics will find it more difficult to secure an audience of intelligent men. Neither should there be too great appre- hension regarding the inevitability of frequent reversals of policy. Thoughtful men understand the imponderable character of most credit problems and they will not demand that there be complete -onsistency between the views of different reserve officials as enun- ciated on various occasions. Reversals of Policy The Additional Information Needed The explanations and interpretations advanced in the Federal Reserve Bulletin, the annual reports of the Federal Reserve Board, and by various reserve officials in Congressional hearings, have been highly serviceable and beneficial. What appears to be required fur- ther is that on irregular occasions of important decisions, men who occupy prominent administrative positions in the system should seek to clarify their motives. By this it is not meant that there should be a newspaper release on every action. But in some recognized way, [Continued on tage SN

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