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Advocates: Beckhart Bell Bradford Dovrie Gayer Goldschmidt Harris VELOCITY RESERVE PROPOSAL Opponents Andersen, B.M«. Currie Rodkey Willis Rufener Spahr Steiner Vatkins, L. Digitized for Meyer FRASER and Black ANDERSON, B. M. Triplicate The Glass B i n and the Federal Reserve Proposal to Base Member Bank Reserves upon 'Velocity1 of Deposits, CHASE ECONOMIC BULLETIN, Vol. XII, no. 1, April 25, 1932. Concludes that Fed. Reserve fvelocity1 proposal rests on an arbitrary and unsound theory, and a very inadequate examination of the facts: it is a dangerous and radical innovation; it would not accomplish the purpose of restricting the future multiple expansion of bank credit when excess reserves reappear. Velocity Reserve Proposal BECKHART, B . E . THE NEW YOPK MONEY MARKET. 1932. See for his endorsement of principle of basing reserve requirements upon activity of deposits. BELL, James W. Recent changes in character of bank l i a b i l i t i e s and the problem of bank reserves, AMERICAN ECONOMIC REVIEW, SUPPLEMENT, v. 22, March, 1932, pp. 185-207. Velocity Proposals BLACK, Eugene R, comments and recommendations, in HEARINGS BEFORE THE SENATE COMMITTEE ON BANKING AND CURRENCY ON S. RES. 84., 73rd Congress, Part 16, PP- 7415-41. has a case for "velocity11 reserve plan CURRIE, Lauchlin Member Bank Reserves and Bank Debits, QUARTERLY JOURNAL OF ECONOMICS, February, 1933, pp. 349-356 Discusses velocity proposal in Board of Governors report on reserve requirements. Questions underlying theory Velocity proposals EUGENE R. Black Testimony Hearings on the Glass Banking Bill of 1932. 72 Congress, 1 Session, on S. Washington: GPO, 1932. Vol. II, p. 379 velocity reserve proposal FEDERAL RESERVE BULLETIN Memorandum Regarding Proposed Revision of Reserve Requirements as to Member Banks, Presented by Governor Black, on behalf of the Federal Reserve Board, to the Committee on Banking and Currency of the United States Senate on March 23, 1934. Velocity Proposals KEYNES, J . M. Member Bank Reserves in the United S t a t e s , ECONOMIC JOURNAL, March, 1932, pp. 2 7 - 3 1 . V e l o c i t y Proposals WATKINS, Leonard L. "The variable reserve ratio," JOURNAL OF POLITICAL ECONOMY, Vol. 44, June 1936, pp. 339pp. 339-373. Reserve requirements WATKINS, Leonard L "The variable reserve ratio," JOURNAL OF POLITICAL ECOHCMI, June 1936. "Hote on automatic instruments of control," AMERICAN ECONOMIC REVIEW, Vol. 27, Dec. 1937, pp. 762-764. U S. Senate. Banking and Currency Committee Governor Black1 s comments and recommendations, see Hearings on S. Res. 84 > 73rd Congress, part 16, pp. 7U5-41 •velocity1 reserve plan.
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