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24:39 A meeting of the Federal Reserve Board was held in Washington 04 Wednesday, August 8, 1934, at 10:45 a. m. PRESENT: Mr. Mr. Mr. Mr. Mr. Black, Governor Hamlin Miller James Thomas Er. Morrill, Secretary Mr. Martin, Assistant to the Governor Mr. Goldenweiser, Director, Division of Research and Statistics Er. Wyatt, General Counsel ALSO PRESENT: Messrs. Harrison, Norris, Fancher and Schaller, Governors of the Federal Reserve Banks of New York, Philadelphia, Cleveland and Chicago, respectively. Mr. Burgess, Deputy Governor of the Federal Reserve Bank of New York Under Secretary of the Treasury Coolidge joined the meeting elleTtlY after it began. Governor Black stated that the meeting had been called for the P4q08 6 of receiving Governor Harrisonts report concerning his recent tr4 to -, "roPe and he invited Governor Harrison to make any statement that Dm desired. Governor Harrison said that his trip to Europe had been solely r°1' the Purpose of gathering information at first hand as to the barking e4a "her aspects of the economic situation in Europe and that there was 40thi„., . 46 upon which any action on the ;art of the Board would be necessary. Re tuned the substance of various conversations he had had with dire°, Or and officers of the Bank for International Settlements and tbe celltrel banks of Germany, Italy, England and other countries. He 1/°14 a 6- out that, in the main, the information which he had gathered 2440 8/9/34 -2- te44641 mexely to confirm what was already known or guessed in the United "as to the situation in Europe, although it indicated perhaps more 464 "1 ' 31104 than might have been supposed the grave nature of some of the Problems and the pressing necessity of some early solution. Thereupon the meeting adjourned. Cf;AILX,e.A.. Secretary. 4P,tved: CrOVenior.
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