Cotton PurchaseU.S. Government Printing Office, 1915 - 76 páginas |
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Palavras e frases frequentes
12 cents advance agricultural Aldrich-Vreeland Act ALEXANDER bales of cotton bankers banking system believe bill borrow BRARY BULKLEY cash cents a pound cents per pound commercial paper committee CONGRESS THE LIBRARY cotton counties cotton crop cotton farmer cotton growers currency associations demand deposit distress dollars emergency currency Federal reserve act Federal reserve banks Federal Reserve Board Federal reserve notes finance going gold reserve HARDY of Texas HAYES HEFLIN HENRY indorse issue LIBRARY OF CONGRES LIBRARY OF CONGRESS LINDBERGH market for cotton ment merchant middling cotton national banks North Carolina PHELAN proposition purchase question RAGSDALE rate of interest reason redeemable in gold redemption fund regional reserve bank relief relieve the situation rural credits Secretary sell September 18 silver sold South telegram thing to-day tobacco Treasury United States notes valorization WINGO
Passagens conhecidas
Página 5 - States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. They shall be redeemed in gold on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or in gold or lawful money at any Federal reserve bank.
Página 50 - Act contained shall be construed to prohibit such notes, drafts, and bills of exchange, secured by staple agricultural products, or other goods, wares, or merchandise from being eligible for such discount; but such definition shall not include notes, drafts, or bills covering merely investments or issued or drawn for the purpose of carrying or trading in stocks, bonds, or other investment securities, except bonds and notes of the Government of the United States.
Página 13 - It being the established policy of the United States to maintain the two metals on a parity with each other upon the present legal ratio, or such ratio as may be provided by law.
Página 32 - The Federal Reserve Board shall require each Federal reserve bank to maintain on deposit in the Treasury of the United States a sum in gold sufficient in the judgment of the Secretary of the Treasury for the redemption of the Federal reserve notes issued to such bank...
Página 13 - That the Treasury notes issued in accordance with the provisions of this act shall be redeemable on demand, in coin, at the Treasury of the United States, or at the office of any assistant treasurer of the United States, and when so redeemed may be reissued; but no greater or less amount of such notes shall be outstanding at any time than the cost of the silver bullion and the standard silver dollars coined therefrom, then held in the Treasury purchased by such...
Página 5 - Any Federal reserve bank may make application to the local Federal reserve agent for such amount of the Federal reserve notes hereinbefore provided for as it may require. Such application shall be accompanied with a tender to the local Federal reserve agent of collateral in amount equal to the sum of the Federal reserve notes thus applied for and issued pursuant to such application. The collateral security thus offered shall be notes...
Página 20 - Federal reserve agents as hereinafter set forth and for no other purpose, are hereby authorized. The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues.
Página 36 - ... of business. All legislation on the subject of banking and currency should have for its purpose the securing of these accommodations on terms of absolute security to the public and of complete protection from the misuse of the power that wealth gives to those who possess it. We condemn the present methods of depositing government funds in a few favored banks, largely situated in or controlled by Wall Street, in return for political favors...
Página 50 - Upon the indorsement of any of its member banks, which shall be deemed a waiver of demand, notice and protest by such bank as to its own indorsement exclusively, any Federal reserve bank may discount notes, drafts, and bills of exchange arising out of actual commercial transactions...
Página 50 - Provided, That notes, drafts, and bills drawn or issued for agricultural purposes or based on live stock and having a maturity not exceeding six months may be discounted in an amount to be limited to a percentage of the capital of the Federal reserve bank, to be ascertained and fixed by the Federal Reserve Board.