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February 8, 1954 Luncheon Interview with Mr. Carl Parry at the Board* Friday, Feb. 5, 1954- Parry asked two or three pertinent questions* 1» "Why, in 1925, was the Federal Reserve Board1 s charter made permanent, instead of going the way of older federal banking systems? 2* ¥hat had the Qjrstem done between 1913 and 1925 that won it iiamortality? 3« He also said the Federal Reserve Act was passed when the United States was on the gold standard. In siabstance, it assumes that we still are| that point of view still holds despite everything that has happened. Why has theory not kept up with fact? * (MA) & * , tea
@FedFRASER