Publisher's Synopsis
Excerpt from The Operation of the New Bank Act
The new law summarized the regional system ownership. Federal reserve banks the problem OF control OF the new system. Powers and duties OF the federal reserve board enumerated the powers OF the federal reserve board ana rediscounts the business OF rediscounting foreign acceptances retiring the national bank notes the new reserve bank notes and refunding the bonds. The federal reserve notes issuing and retiring the federal reserve notes possibility OF inflation open market operations control OF the gold supply government deposits and the relations OF the reserve banks To the government the reserve problem the redepositing OF reserves under the new act. Readjustment OF 'the reserves IN the country banks. Readjustment OF reserves IN the reserve cities the reserve problem IN new york and the other central reserve cities.
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