Referendum on the report of the Special Federal Reserve Committee

Bibliographic data

Monograph

Identifikator:: 1827879114

URN:: urn:nbn:de:zbw-retromon-221388

Document type:: Monograph

Title:: Referendum on the report of the Special Federal Reserve Committee

Place of publication:: [Erscheinungsort nicht ermittelbar]

Publisher:: [Verlag nicht ermittelbar]

Year of publication:: 1930

Scope:: 53 S.; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

2 Exchange of Information ~ Within Svstem Recommendation I OG CL ens COMMITTEE REPORT such as by addresses of the officials of the Federal Reserve Board and of the district banks, sufficient information should be given about the determining factors in the situation so that intelligent men may be able to engage in frank and friendly criticism. And more than this is necessary. It would be evidently advantageous if as a regular feature of reserve bank practice full and detailed publicity were given to the purposes and results of various policies after the situa- tion with which they were concerned had developed to such a point as would make such a statement practicable. There is need also for greater exchange of information and clear opinion within the system itself. The regional reserve bank should be thoroughly familiar with the policies of the Federal Reserve Board and the reasons therefor. Only thus can they be in a position to chart their own course and to enlighten the member banks. Not otherwise may there be expected the fullest comprehension of prob- lems and solutions, with wholehearted and intelligent cooperation. There may be some justification upon occasions for not taking the entire public into confidence; there is little for lack of frankness between the Board and the reserve banks. The Committee concludes that the grant of liberal legislative powers to the Reserve Board and to the reserve banks imposes upon them the responsibility of providing the public, not only with an ample amount of factual and statistical credit information, but also with the means of determining the purposes of major policies. The Committee recommends that the management of the reserve system should provide the public with such an ample amount of in- formation as to operations and policies as will permit the formation of sound public opinion. H. A. WHEELER, Chairman SEWELL L. AVERY Jurius H. BARNES A. J. BROSSEAU WALTER S. BUCKLIN CHARLES S. CALWELL W. F. GEPHART C. T. JAFFRAY JoHN G. LONSDALE W. S. McLucas R. GoobwyYN RHEIT PAUL SHOUP

Access restriction

Copyright

fullscreen: Referendum on the report of the Special Federal Reserve Committee

Monograph

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation