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OF A FEDERAL MORTGAGE BANK

HEARING

BEFORE A

Cod. Conguss. Senate, SUBCOMMITTEE OF THE
COMMITTEE ON BANKING AND CURRENCY,

UNITED STATES SENATE
SEVENTY-FOURTH CONGRESS

SECOND SESSION

ON

S. 2914

A BILL TO PROVIDE FOR THE ESTABLISHMENT OF A CORPORATION,
KNOWN AS THE “FEDERAL MORTGAGE BANK”, CREATING A PERMANENT
DISCOUNT AND PURCHASE SYSTEM FOR MORTGAGES ON URBAN REAL
ESTATE, DESIGNED BY COMPREHENSIVE YET CONSERVATIVE ÀCTION,
TO FILL A GAP IN THE NATIONAL FINANCIAL STRUCTURE TO THE END
OF STABILIZING MORTGAGE PRACTICE, EASING MORTGAGE CREDIT,
AND BY THE ESTABLISHMENT OF AN ADEQUATE AGENCY PREVENTING

PERIODIC FROZEN CONDITION IN FINANCIAL INSTITUTIONS.

JANUARY 18, 1936

Printed for the use of the Committee on Banking and Currency

[blocks in formation]

COMMITTEE ON BANKING AND CURRENCY

DUNCAN U. FLETCHER, Florida, Chairman

PETER NORBECK,, South Dakota
JOHN G. TOWNSEND, JR., Delaware
ROBERT D. CAREY, Wyoming
JAMES COUZENS, Michigan
FREDERICK STEIWER, Oregon

CARTER GLASS, Virginia
ROBERT F. WAGNER, New York
ALBEN W. BARKLEY, Kentucky
ROBERT J. BULKLEY, Ohio
THOMAS P. GORE, Oklahoma
EDWARD P. COSTIGAN, Colorado
ROBERT R. REYNOLDS, North Carolina
JAMES F. BYRNES, South Carolina
JOHN H. BANKHEAD, Alabama
WILLIAM GIBBS MCADOO, California
ALVA B. ADAMS, Colorado
FRANCIS T. MALONEY, Connecticut
GEORGE L. RADCLIFFE, Maryland

WILLIAM L. HILL, Clerk

/

SUBCOMMITTEE OF THE COMMITTEE ON BANKING AND CURRENCY

DUNCAN U. FLETCHER, Florida, Chairman ROBERT F. WAGNER, New York

PETER NORBECK, South Dakota ALBEN W. BARKLEY, Kentucky

JAMES COUZENS, Michigan
ROBERT J. BULKLEY, Ohio
GEORGE L. RADCLIFFE, Maryland

WILLIAM L. HILL, Clerk
R. H. SPARK MAN, Acting Clerk

II

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