The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
OUTLINE OF OFJECTI0NS TO GLAS3 COMMITTEE'S TITLE II General Objectives of Title II as Developed in House Bill arei 1 # Monetary Control a* Specific delegation to a specific body. b# All powers in the same body, viz. (1) Open market / (2) Reserves > (3) Discount rates c« An objective (1) Recovery, then (2) Stability 2« Recovery Assistance and Disaster Prevention fey the Banking System (a) The Reserve System (1) Eligibility ^ (2) Hote-isaue without collateral (b) The member banks (1) Real estate loans) ^ (2) Virtual unification, thru waiving of membership requirements 3» Federal Reserve Board Membership (a) Attractiveness (l) Enhances authority and responsibility » (g) Salary increase v (5) Governor not prevented from re-entering banking business X (b) Indpendence of action (l) Quality of appointments by President X (2) Pensions ft foytf (c) Liaison with Administration (l) Governor to serve at pleasure of President, / 1/
