Full text of Mimeograph Letters and Statements of the Board : Suggested Outline of Annual Report of Federal Reserve Board, 1917, Number X-498, Volume 6, Page 2949

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X-498,

SUGGESTED OUTLINE OF ANNUAL REPORT OF FEDERAL RESERVE BOARD.
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Prefatory Remarks:
(a)

Entry of U. S. into war and financial problem arieing
therefrom,

(b)

Consequent Change in character of work done by Federal
Reserve Banks and transformation of their functions.

Financial and Banking Situation at Entry into War:
(a)

3.

Normal and stable conditions of Winter and Spring,
1916 - 1917,
(1)

Conservative policy of F. R. Banks.

(2)

Preliminary policies - preparation and
distribution of new F. R. notes.

(b)

Character of work done by F. R. Banks as fiscal
agents up to March, 1917.

(c)

Estimate of investment and banking strength of
country at end of March 1917.

Opening of War and Placing of Loans:
(a)

Treasury policy toward Board and banks - development
of fiscal agency function.

(b)

Organization for first loan;




(1)

Work at banks of several districts.

(2)

Policy of Board as to rediscounts.

X-498.

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(c)

Short term certificate.methods - how applied relation to bond issues.

(d)

Effect of first loan on banks of country.

(e)

4.

(1)

Easy disposal of bonds.

(2)

Maintenance of liquidity.

Placing of second loan:
(1)

Difficulties of time and conditions
surrounding it.

(2 )

Methods adopted for sale of bonds.

(3)

Effect on banks.

(4)

Problems of investment market.

Strength of Reserve Banks:




(a)

(b)

(c)

Amendments of Federal Reserve Act.
(1)

Reasons for and sketch of amendments.

(3 )

Effect of amendments on reserves held.

Relation of F. R. Banks to market.
Cl)

Policy as to purchases and discounts.

(2)

Relation to nonrr.em.ber banks.

Entry of State institutions into System.
(1)

Sketch of origin and conditions of movement.

(2)

Growth of resources.

(3)

Critical estimate of effect of movement on
system as a whole.

X-498

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5.

Underlying Financial Problems of Year:
(a) Condition of general business.

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7.

(b)

Confidence and its maintenance.

(c)

Movement of gold into country up to midsummer
and turn of tide.
'

(d)

Effort to check outward gold flow.

(e)

Foreign exchange situation - Board's policy.

;

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Oranization Problems:

(a)

Branch question - how

(b)

Personnel at banks - Problems growing out of war,

(c)

Changes in directorates.

(d)

Board's own staff and expenses.

Summary and Forecast:
(a)

Net result of year.

Board established new offices.

.
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(b) . Capacity of System under prospective demands."

11/13/17