The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
272 II:X OI'PIOIO MBMBSM W. P.ll. HARDJNII,IIOYI. .OR. ALBERT STRAUSS, YICIII0¥11801 ADOLPH c. IIILLER CHARLES S. HAIILIN HENRY A. IIOEHLINPAH . JIAYIDF:H~ IICRUARY ot' THE TRIAIIORY ' t. CHAIRMAN FEDERAL RESERVE BOARD JOHH SKELTON WILUAIIS COIIPTIOLUI OP THI CUIIINCY Yl. T. CHAPIIAN, SICRITARY ,ADDREBa REPI. Y TO I"E;DJE~AJ. R. G. EIIERSON. AsllftAJI.T SaCIITAIY W.II,IIILAY. FIICAL A81NT WASHINGTON RIEI'E:RVE BOARD March 30, 1920. SUBJECT: Boa~~s X-1S7S reply to Senate Resolution 328. Dear Sir: There is enclosed herewith, for your information, c~y of the Board's reply to the following resolution adopted by the Senate on March S, 1920: ""RESOLVED that the Federal Reserve Board be and is hereby directed to advise the Senate what is the cause and Justification for the usurious rates of interest on collateral call loans i.n the financial centers, under what law authorized, and what steps, if any, are requireCi. to abate this condition•! Very truly yours, Governor. To all Agents and Governors.of the F. R. Banks.
@FedFRASER