Review of Report of the Commission on Money and Credit, 7. sējumsU.S. Government Printing Office, 1961 - 486 lappuses |
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agencies assets balance banking system believe billion bonds boom borrowers branch banking budget ceiling Chairman PATMAN changes commercial banks Commission on Money Commission recommends Commission's committee competition Congress coordination countercyclical debt management deficit demand deposits economic growth effect expenditures fact Federal Reserve Board Federal Reserve System feel financial institutions fiscal policy FREEMAN funds goals going Government securities gross national product important income tax increase inflation inflationary interest rates investment KEYSERLING labor liquidity long-term maturity ment MILLER monetary policy Money and Credit money supply mortgage NATHAN open market open market operations operations percent period President price level price stability problem public debt question reason recession reduce Representative CURTIS Representative GRIFFITHS Representative REUSS Reserve banks reserve requirements ROCKEFELLER Senator DOUGLAS Senator PROXMIRE SHOUP SONNE statement structure SZYMCZAK thing tion Treasury Treasury securities wage WALLICH
Populāri fragmenti
395. lappuse - There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction and does it in a manner which not one man in a million is able to diagnose.
390. lappuse - ... with the assistance and cooperation of industry, agriculture, labor, and State and local governments, to coordinate and utilize all its plans, functions, and resources for the purpose of creating and maintaining, in a manner calculated to foster and promote free competitive enterprise and the general welfare, conditions under which there will be afforded useful employment opportunities, including self -employment, for those able, willing, and seeking to work, and to promote maximum employment,...
35. lappuse - We shall deal with our economic system as it is and as it may be modified, not as it might be if we had a clean sheet of paper to write upon; and step by step we shall make it what it should be...
390. lappuse - Congress hereby declares that it is the continuing policy and responsibility of the Federal Government to use all practicable means consistent with its needs and obligations and other essential considerations of national policy, with the assistance and cooperation of industry, agriculture, labor, and State and local governments, to coordinate and utilize all its plans, functions, and resources for the purpose...
471. lappuse - ... of the funds, (2) to enforce such standards, (3) to assure periodic disclosure to beneficiaries of the financial statements of the fund, and, (4) to bring suit against malfeasors on behalf of the plan participants and their beneficiaries. Now we do not even go as far as they go under the first item "to study and develop appropriate standards of prudence in investment of the funds.
473. lappuse - Accordingly, the Commission recommends that the Government Corporation Control Act of 1946 be amended so as to direct the Secretary of the Treasury, in the exercise of his clearance power over the issuance and sale of the securities of government-owned corporations, to take into account explicitly the full range of objectives of the Employment Act as amended, and not merely debt management considerations ; and that cases of disagreement be taken to the President.
468. lappuse - ... rate. c. The duration of the adjustment should be limited to six months subject to renewal by the same process, unless Congress acts sooner by law to extend or supplant it. d. The exercise of the conditional power by the President should be subject to a legislative veto by a concurrent resolution of both houses of Congress before any tax adjustment takes effect, in accordance with the procedures made familiar by the recent Reorganization Acts. To this end the President should be required to lay...
32. lappuse - The Commission believes that the threat of a confidence crisis would be greatly reduced if it were generally recognized, both here and abroad, that all of the US gold is available to meet our international obligations. Any doubts about the US policy should be removed by elimination of the gold reserve requirement at the earliest convenient moment so that all of the US gold stock is available for international settlements.
466. lappuse - * * * that the average rate of growth of the money supply should be consistent with the continued maintenance of high employment at stable prices and adequate economic growth, but it recognizes that it may be appropriate for the money supply to grow more or less rapidly than the output of the economy at high employment."9 Representative Patman has gone somewhat further.
471. lappuse - Such insurance should be available only under stringent conditions, perhaps such as (1) the farm unit should be large enough to take advantage of existing technology and provide a satisfactory level of family income under reasonably good management, and (2) adequate farm plans should be developed by the borrower.