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PROPOSALS
FEDERAL RESERVE BOARD

A.

ADMINISTRATIVE
1,

Increase the salaries of the members of the Federal Eeserve

Board hereafter appointed to $20,000 per annum, the same as that now
paid the Associate Justices of the Supreme Court.
2.

^'

Present members of the Board who have served at least one

full term may retire on full pay at any time after reaching the a g
.e
of 70; a n y members hereafter appointed must retire at such age. If
members serve less than a given number of years—say ten, their

av

pensions shall " e reduced proportionately.
b
3.

The qualifications for members of the Federal Reserve Board

shall " e changed to " e as follows:
b
b
At least two members of the Board shall be qualified by exoerience
aisi^officers of Federal Eeserve "banks "but this qualification shall not
prevent reappointment 0? present members of the Board. The remaining
Board members shall be persons well qualified by education or
experience or both to participate in the formulation of national
economic and monetary policies.
4. Deposit Insurance should be a division under the Federal
Heserve Board under the general supervision of one of the Board members
5«

The office of the Comptroller of the Currency shall be

abolished and his duties not otherwise disposed of shall be assumed




2.

" y the Federal Reserve Board.
b
6.

The Board shall " e empowered to delegate specific powers
b

and duties not involving the determination of national policies to
individual members of the Board and/or its representatives.