The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
sFecil leetin c.). the Aticri 'Acid in the office of the :::,overnor on. ThqrLd:-, 7)-4-tAber t%rce I, rri • prelAdi, ,,ecretz.„rj. :r. :r. tnaninoat; conselt I t,y_L -,:otfd to t.fi, Plic, Li(}11.0 jt.:i :--nk of tjn.1 1G na -ntioL, the sz...me -no.,er„ Jr_ntcd ii re Itn trtutee ,D the ap-. Tc; rd'bonds. riJyort oL' the 'ommit- rndcr tiuJ4me tfe on -.Lilt 4nd .....1. 111:.Lior for L.,;:a-,iner .,.i. tton, “ t%lien 14C:: of ,:,-/JU jid ;.;:rfrov(d. the :secr,.,t'.r7.T direottO to notify tkie .;0-mt1o1l(.r of the J.Arrt.cy -ac spectz.,1 I uine of the day bein,s ,onsidention the ;,,ecret7,ry of the 'o.-rd read a nerlor:.ndi-, prep-red by 7r. rbcr and addressed to the :;ecretz....r7 of the 72rea2ary aith reference to the creation of :„ 2edeml 1 - Loan Bank. General diecasolon ensed, and L'a**.. proposed th'..t the :_„0:.,1.a coider lroble-,s, redit to different 12..diistrie. 2riority-in the e.:•,.tersioA of Tno (luel.;tio-t, of the e;:tensiot, of credit .where needed to m:,-nAfctir€r basinez.s 7:1(211 Jlzrin:„:: the I,• , lo , L 17o110-,vs: J bTr. L;itutio (- 71. VI How to relieve th.e preent 1. —2 'ttr fdrth(r to tnis 3;:eniti ,„ '4-)tin-1, V()td it the to t.i1 for the cc cy no.*, "ireciite relief to the ,,:cJi.rjtieL he qieded. djiis of the coAntr vin o stted hIi vt tO relkdy. ▪ 11 :"or so.1 -tt.d _t „.ioned to p1cc before the credit, r in the oniniol, ▪ neLdai, (Jzr (1; tne Jov,or Ad ei..tended L..11 ern!lent, or (..) the A.der:l ieserve system tilrough sitolo :_,..wndment, or member. of the oatElde thcrepoi iked Ais opinion %s, to :1tern...1..ive Q. to the reserve syste, Lnd replicL were Yes r. 70 jelL.1.0 :111er n,o.vev(!r. tnLJ1 dd( d tht le srcte f. the t'.1.ro.th :act ther corpor%tion). odtLide iüin r. .,arburg The other alternatives, were not'forAallj'considered. Discussion - of the general econmic 'situation roduced the war, CIIS' io.id ap- . -filler moved that if upon in.iry it pear that the savings banks of the coan had not t„Affi i collateral to ,.:et from banks :,c:..lommodation based a)on lovern7lent obligations, that some plan beprovided for a ,i.aalified membership in the Aderal deserve system, whichwold enable such savinas banks to obtain accrrnmodation on collateral of the kind now held by ter. the close of the dis assion it wa all members of the Board reed that uld be re:laested to a-ni.dify their ideas on the subJect, and file them with the of the Board. The Jonptrollr o the y stated that within a few days he would be senCAing oat a new call for condition of national bunks, and that he Asled to have the members theof Board consider whether ther were any special ,iaes- tions they .;odd like to have incorporated therein. 1 5.3j p.r,„ th. :mard adjo.t ned.
@FedFRASER