Description
Excerpt from The Federal Reserve System and the Banks
The more important this market grows, the stronger will be the position of the Federal Reserve Banks, for the greater or lesser volume of purchases of such accept ances will Offer one of the Federal Reserve Banks'' most efiective means of exercising a wholesome in?uence upon the ?uctuation of interest rates. As normal conditions are reestablished in the world, this acceptance market will become an important factor in protecting our ex change position with foreign countries and, incidentally, our gold holdings. It has taken some time to develop this market, but I am confident that, from now on, its growth will be rapid. One of the obstacles that made the start difficult was found in the fact that many accept auces, which are made for the purpose of financing im portations and exportations, have to be drawn and sold in foreign countries.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
The more important this market grows, the stronger will be the position of the Federal Reserve Banks, for the greater or lesser volume of purchases of such accept ances will Offer one of the Federal Reserve Banks'' most efiective means of exercising a wholesome in?uence upon the ?uctuation of interest rates. As normal conditions are reestablished in the world, this acceptance market will become an important factor in protecting our ex change position with foreign countries and, incidentally, our gold holdings. It has taken some time to develop this market, but I am confident that, from now on, its growth will be rapid. One of the obstacles that made the start difficult was found in the fact that many accept auces, which are made for the purpose of financing im portations and exportations, have to be drawn and sold in foreign countries.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Details
Publisher - Forgotten Books
Language - English
Hardback
Contributors
Author
Paul M. Warburg
Published Date -
ISBN - 9780265191255
Dimensions - 22.9 x 15.2 x 0.2 cm
Page Count - 38
Paperback
Contributors
Author
Paul M. Warburg
Published Date -
ISBN - 9781440043505
Dimensions - 22.9 x 15.2 x 0.2 cm
Page Count - 40
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