The Federal Reserve System (Classic Reprint) - Softcover

Clarke, Edward H.

Softcover

ISBN 10: 1440033021 ISBN 13: 9781440033025

Publisher: Forgotten Books, 2018

Synopsis

The Federal Reserve Act reorganized American banking to create a flexible, nationwide system of central banks.

This edition explains how the act connected existing banks into districts with a central authority to issue notes, hold reserves, and rediscount for member banks. It also describes the shift from an inelastic, fragmented system to a coordinated framework designed to prevent crises and support commerce.

The text traces the law’s aims to balance elastic currency with sound banking practices. It covers how reserves were deposited with Federal reserve banks, how the Federal Reserve Board supervised the system, and how the new structure evolved during and after the war. It also discusses features like foreign trade banking, the gold settlement fund, and the clearing and collection processes that modernized payments across the country.

• Understand why the act created banking districts and a central reserve bank for each district.
• See how reserves and rediscounting help member banks manage crises and fluctuations in demand.
• Learn about the roles of the Federal Reserve Board, the clearing system, and the gold settlement fund.
• Explore changes in foreign trade banking, domestic acceptances, and the postwar credit environment.

Ideal for readers of American economic history and anyone interested in how a central banking system supports stability and growth.

About this title

Product Description

THE FEDEEAL EESEKVE SYSTEM
By Henry Parker Willis, A.B., Ph.D.
The Federal Reserve Act, passed by Congress on December 23,1913, is the outcome of a discussion of banking conditions extending more or less sporadically over the years since the Civil "War, but assuming an increasing degree of urgency from and after the panic of 1893.
The JSTational Banking System had been established during the Civil War, partly as'the result of the Government's financial necessities of that period. It was, before the adoption of the new act, a system of independent and unrelated banks with capitals varying from $25,000' to $25,000,000, holding out, practically irrespective of any definite principles, to any group of five individuals the right to organize and incorporate under its terms. Its characteristic feature, apart from this competitive and independent aspect, lay in its provision for the issuance of currency protected by the bonds of the National Government which were required to be purcha

About the Publisher

Forgotten Books is a publisher of historical writings, such as: Philosophy, Classics, Science, Religion, History, Folklore and Mythology.

Forgotten Books' Classic Reprint Series utilizes the latest technology to regenerate facsimiles of historically important writings. Careful attention has been made to accurately preserve the original format of each page whilst digitally enhancing the difficult to read text. Read books online for free at www.forgottenbooks.org

Edition details

• Publisher: Forgotten Books
• Publication date: 2018
• Language: English
• ISBN 10: 1440033021
• ISBN 13: 9781440033025
• Binding: Paperback
• Number of pages: 60