Incorporating Institutions to Engage in International Or Foreign Banking, Hearings Before ..., 66-1 on S.2472 ..., July 23, 1919 |
From inside the book
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Page 3
... Present : Senators MeLean ( chairman ) , Gronna , Calder , Newberry , Keyes , Owen , Fletcher , Henderson , and Walsh . The committee had under consideration the following bill ( S. 2472 ) : [ S. 2472 , Sixty - sixth Congress , First ...
... Present : Senators MeLean ( chairman ) , Gronna , Calder , Newberry , Keyes , Owen , Fletcher , Henderson , and Walsh . The committee had under consideration the following bill ( S. 2472 ) : [ S. 2472 , Sixty - sixth Congress , First ...
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... present men in Italy can not buy at this price , except where the urgency is extremely great . American merchants who desire to sell their goods do not wish to sell them in terms of lira , because they do not know whether the lire they ...
... present men in Italy can not buy at this price , except where the urgency is extremely great . American merchants who desire to sell their goods do not wish to sell them in terms of lira , because they do not know whether the lire they ...
Page 8
... present conditions . On February 20 , 1918 , I introduced a bill providing for the Federal reserve foreign bank , which would function in foreign banking much the same as the New York Federal Reserve Bank functions in domestic banking ...
... present conditions . On February 20 , 1918 , I introduced a bill providing for the Federal reserve foreign bank , which would function in foreign banking much the same as the New York Federal Reserve Bank functions in domestic banking ...
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... present the matter in such a way as to accomplish the result . I care nothing about any credit with regard to it . But I do feel the most profound interest in the welfare of American commerce , and you gentlemen who are now in control ...
... present the matter in such a way as to accomplish the result . I care nothing about any credit with regard to it . But I do feel the most profound interest in the welfare of American commerce , and you gentlemen who are now in control ...
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... presents the matter in as clear a manner as I could present it . Foreign exchange is confusing , as to what it . means , as to why , if an American dollar is worth $ 1.40 in France and a pound sterling is now worth only about $ 4.20 ...
... presents the matter in as clear a manner as I could present it . Foreign exchange is confusing , as to what it . means , as to why , if an American dollar is worth $ 1.40 in France and a pound sterling is now worth only about $ 4.20 ...
Common terms and phrases
agents amended American dollar American investing public American producer appointed authorized bankers banking corporation bill provides bills of exchange board of directors bonds Britain capital and surplus capital stock cent CHAIRMAN committee Congress corporations chartered credit balance Currency dependency or insular discount drafts embargo employees Europe European credits exercise exports extend credits Federal Reserve Act Federal reserve banks Federal Reserve Board Federal reserve foreign Federal reserve notes financial operations foreign countries foreign exchange Foreign Finance Corporation foreign Governments France gold incidental insular possession interest international exchange international or foreign issue laws lire loans loss manufacturing member bank million national banks officers organization certificate paid poration pound sterling profit purchase purpose reserve foreign bank rules and regulations section 25 securities Senator EDGE Senator FLETCHER Senator GRONNA Senator NEWBERRY Senator OWEN Spain subscribed supervision thereof to-day transaction trust companies United War Finance Corporation worth
Popular passages
Page 26 - 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...
Page 4 - State thereof, and principally engaged in international or foreign banking, or banking in a dependency or insular possession of the United States either directly or through the agency, ownership, or control of local institutions in foreign countries, or in such dependencies or insular possessions.
Page 5 - Sixth. To prescribe, by its board of directors, by-laws not inconsistent with law, regulating the manner in which its stock shall be transferred, its directors...
Page 5 - States but not engaged in the general business of buying or selling goods, wares, merchandise or commodities in the United States, and not transacting any business in the United States except such as in the judgment of the Federal Reserve Board may be incidental to its international or foreign business...
Page 27 - To establish from time to time, subject to review and determination of the Federal Reserve Board, rates of discount to be charged by the Federal Reserve bank for each class of paper, which shall be fixed with a view of accommodating commerce and business...
Page 27 - States, bonds and notes of foreign governments, and bills, notes, revenue bonds, and warrants, with a maturity from date of purchase of not exceeding six months, issued in anticipation of the collection of taxes or in anticipation of the receipt of assured revenues by any State, county, district, political subdivision, or municipality in the continental United States, including irrigation, drainage, and reclamation districts, such purchases to be made in accordance with rules and regulations prescribed...
Page 4 - Such articles of association shall be signed by all of the persons intending to participate in the organization of the corporation and, thereafter, shall be forwarded to the Federal Reserve Board and shall be filed and preserved in its office.
Page 26 - Federal reserve bank may discount notes, drafts and bills of exchange arising out of actual commercial transactions; that is, notes, drafts and bills of exchange issued or drawn for agricultural, industrial or commercial purposes, or the proceeds of which have been used, or are to be used, for such purposes, the Federal Reserve Board to have the right to determine or define the character of the paper thus eligible for discount, within the meaning of this Act.
Page 26 - To prescribe, by its Board of Directors, bylaws not inconsistent with law, regulating the manner in which its general business may be conducted, and the privileges granted to it by law may be exercised and enjoyed.
Page 26 - To prescribe, by its board of directors, by-laws not inconsistent with law, regulating the manner in which its stock shall be transferred, its directors elected or appointed, its officers appointed, its property transferred, its general business conducted, and the privileges granted to it by law exercised and enjoyed.