Bank Credit And Agriculture Under the National And Federal Reserve Banking Syst

Cover Bank Credit And Agriculture Under the National And Federal Reserve Banking Syst
Bank Credit And Agriculture Under the National And Federal Reserve Banking Syst
Ivan Wright
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Also, large quantities of grain are shipped east from this district, and particularly from the Northwestern states.
CHAPTER XVII DISCOUNT RATES OF THE FEDERAL RESERVE BANKS FROM THE DATE OF ORGANIZATION TO THE END OF THE YEAR 1919. HIGH AND LOW RATES ON 61 TO 90 DAYS PAPER, AND AGRICULTURAL AND LIVE STOCK PAPER MATURING AFTER 90 DAYS, COMPARED Upon the opening: of the Federal Reserve Banks, November 16, 1914, problems of a discount policy, and discount rates for the several banks at once arose.
... What should the discount rate or rates be, not only at the several banks, but on the several classes of paper? What effect should the length of maturity, character of the security, and liquidity of the paper offered for discount at the Federal Reserve Banks have upon the rates? Should there be uniform rates for all districts, or should the rates for the several districts differ as circumstances might dictate ?
There was no standard or former experience by which the Federal Reserve Board or the banks could fix the proper rates at the opening of the system.


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