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The Federal Reserve System and the Banks
This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.
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As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.
As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
40 pages, Paperback
First published September 27, 2015
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August 20, 2016
From the moment that Andrew Jackson killed the national bank in 1836 until The Federal Reserve Act (FRA) of 1913, there was no national bank of the United States, which made it difficult for American traders to deal with other countries. Paul M. Warburg advocated for years to establish an American national bank. This is essentially what the FRA did, and Mr. Warburg became a member of the Federal Reserve Board.
This book of 34 pages was his address which was printed and distributed by the New York State Banker's Association in Convention Assembled on June 16, 1916. The Federal Reserve Board was about two years old.
In his address, Mr. Warburg explains the importance of the Federal Reserve for the banks, and I think he explained it clearly enough that the layman can understand. However, what would have been crystal clear to his audience in 1916 will not necessarily be clear to the modern reader, because the banking system(s) had significant challenges during those years. (Read The Regulation and Reform of the American Banking System, 1900-1929 by Eugene Nelson White).
Because my novels take place during 1928-1929 this information has been especially useful for me in my writing.
This book of 34 pages was his address which was printed and distributed by the New York State Banker's Association in Convention Assembled on June 16, 1916. The Federal Reserve Board was about two years old.
In his address, Mr. Warburg explains the importance of the Federal Reserve for the banks, and I think he explained it clearly enough that the layman can understand. However, what would have been crystal clear to his audience in 1916 will not necessarily be clear to the modern reader, because the banking system(s) had significant challenges during those years. (Read The Regulation and Reform of the American Banking System, 1900-1929 by Eugene Nelson White).
Because my novels take place during 1928-1929 this information has been especially useful for me in my writing.
Displaying 1 of 1 review