The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
The Federal Reserve oystem hao a definite responsibility in the boating and monetary field to make its views kno'-:n. to Congr*88« This special report, as I liurtai MtiHllii it, is for that purpose. It dealt; witll zone Of the many technical questions that the Wagner questionnaire will require them and other banking agencies and organizations to answer* Chairman Kccles rataitted the report tc Bfi before it waa sent to Congress, and -hile I have not had an opportunity to study it in dtt&il, 1 aa la fall 6Ccord vith the objective, %e I mdcrstatid it, wnieh is preparedness on the b%ajr1ng and monetary front ma part of our defense preparedness — so that those cliurged with monetary responsibility will be in a position to prorottt inflationary developmontE insofar aa th&t can bo done ty monetvry aiicl credit means. (Taken to the White House by Mr. Thurston 1/2/41, 5:15 p.m.)