Board of Governors of the Federal Reserve System (U.S.), 1935- and Federal Reserve Board, 1914-1935. "Meeting Minutes, January 20, 1916, 3:15 PM, Volume 3, Part 1," Minutes of the Board of Governors of the Federal Reserve System (January 20, 1916). https://fraser.stlouisfed.org/title/821/item/28642, accessed on May 1, 2025.

Title: Meeting Minutes, January 20, 1916, 3:15 PM, Volume 3, Part 1

Author: Board of Governors of the Federal Reserve System (U.S.), 1935-
Date: January 20, 1916
Page 1
image-container-0 At an adjourned meeting of the Federal Reserve Board held in the office of the Board at 3:15 p. m., on Thursday, January 20, PRESENT: Mr. Hamlin, presiding Mr. Warburg Mr. Delano Mr. Harding Mr. Williams Mr. Miller Mr. Allen, Assistant secretary. By invitation of the Board, the Gover- nors of Federal reserve banks, in session in Washington, met with the Board, there being pre- sent, Mr. Aiken Mr. Strong Mr. Rhoads Mr. Faucher Mr. Seay Mr. McCord Mr. McDougal Mr. Wells Mr. Wold Mr. Miller Mr. Kailas. The two topics suggested by the Board for the consideration of the Governors were taken
image-container-1 up for general discussion. These topics were: . Should the Board add to the number of cities classified as reserve and central re- serve cities? 2. Should action be taken look- ing to the establishment of joint agencies of Federal re- serve banks in foreign lands, or should this field be loft to member banks? There was general discussion of these subjects without definite recommendation. It was agreed that both should receive further con- sideration. Governor Strong stated that the ques- tion of reserves of country banks had been under discussion by the Governors at their meeting with , the Federal legislative committee of the American Bankers, Association early in the day. It was agreed that the Governors of the banks should gi study to this question, and the chairman stated that the Board would be glad to receive suggestions resulting from such study.
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