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INDEX TO RECOMMENDATIONS OF THE FEDERAL A D V IS O R Y COUNCIL TO THE FEDERAL R E S E R V E B O A R D , Y E A R 1924 Acceptances Page Drawn by banks to finance export transactions, legality; also eligi bility fo r Federal Reserve Banks Feb. 19, 1924 Topic 2 .................................................. 1 Greater latitude to accepting banks urged and liberal interpreta tion o f A ct without amendment May 13, 1924 Topic 5 - - - ..................................7 Open market operations Feb. 19, 1924 Topic 3 .................................................. 2 Nov. 24, 1924 Topic 1 ...................................................11 Preference over Government issues urged in open market operations Feb. 19, 1924 Topic 3 ...................................................2 Balances Opposition to payment by Federal Reserve Banks of 2% interest on, as proposed in Fulmer Bill, H. R. 3206 Feb. 19, 1924 Recommendation 5 ...................................................3 Bills in Congress Fulmer, H. Feb. McFadden, Feb. R. 3206 19, 1924 H. R. 6855 19, 1924 Recommendation 5 ...................................................3 Recommendation 6 ...................................................3 Branch Banking Indorsement o f objects and aims o f McFadden Bill, H. R. 6855 Feb. 19, 1924 Recommendation 6 ...................................................3 Circulation Bonds Redemption on Feb. 1, 1925, o f 118,489,900-4% Loan o f 1925 approved Sept. 25, 1924 Resolution 2 ................................................... 9 Condensed weekly statement o f combined gold reserves— Publication of amounts without percentages of reserves favored Feb. 19, 1924 Topic 4 ................................................... 2 Dawes Report to the Reparations Commission May 13, 1924 Topic 3 Depositors, Protection o f Feb. 19, 1924 - Recommendation 1 - - . . - - - - - - - 5 .................................. 1 Dividends Should Federal Reserve Banks continue to pay even though not earned? May 13, 1924 Topic 4 ................................................... 7 Discount and open market policies Feb. 19, 1924 May 13, 1924 Nov. 24, 1924 Topic 3 Topic 1 Topic 1 Eligibility Acceptances dravm by banks to finance Feb. 19, 1924 Topic 2 Failures o f numerous small banks Feb. 19, 1924 Topic 1 ........................................................2 ........................................................5 ........................................................H export transactions ........................................................ 1 1 Federal Reserve Act Page Amendments as contained in proposed McFadden Bill, H. R., 6855 indorsed as to objects and aims Feb. 19, 1924 Recommendation 6 .................................................. 3 Liberal interpretation of Section 13 in regard to accepting banks urged May 13, 1924 Topic 5 .................................................. 7 Federal Reserve Banks Eligibility for Federal Reserve Banks of acceptances drawn by banks to finance export transactions Feb. 19, 1924 Topic 2 .................................. ..... 1 Interest of 2% on member banks’ balances (Fulmer Bill, H. R. 3206) opposed Feb. 19, 1924 Recommendation 5 .................................................. 3 Investment in foreign bills by Sept. 25, 1924 Resolution 1 .............................- - - - 9 Open market operations Feb. 19, 1924 Topic 3 .................................. 2 May 13, 1924 Topic 1 .................................................. 5 Nov. 24, 1924 Topic 1 - - - - - - - - - 11 Preference for acceptances over Government issues urged in open market operations Feb. 19, 1924 Topic 3 ........................................- - 2 Purchase and rediscount of German bills by May 13, 1924 Topic 3 ............................._ - - - 5 Should they continue to pay dividends even though not earned? May 13, 1924 Topic 4 .................................. - - - 7 Federal Reserve Board Proposed form for weekly condensed statement of combined gold VpcpvupQ Feb. 19, 1924 Regulation H May 13, 1924 Topic 4 - - - - - - - Topic 2 . ............................................ 5 Foreign Bills Investment in by Federal Reserve Banks Sept. 25, 1924 Resolution 1 . ............................................ 9 Foreign capital flotation in American Market, Effect of Nov. 24, 1924 Topic 3 ............................ _ - - _ - Fulmer Bill, H. R. 3206 Payment by Federal Reserve Banks of 2% interest on members banks’ balances Feb. 19, 1924 Recommendation 5 - - - - - - - 2 - 11 -3 German Bills Purchase and rediscount by Federal Reserve Banks May 13, 1924 Topic 3 ..................................................5 Gold reserves Publication in condensed weekly statement of amounts without percentages favored Feb. 19, 1924 Topic 4 ............................................ - 2 Inflation Means of averting May 13, 1924 Recommendation 3 - - - - - - ,E > Sept. 25, 1924 Resolution 1 ............................................- 9 Nov. 24, 1924 Recommendation 1 ................................................. 11Interest of 2% on member banks’ balances (Fulmer Bill, H. R. 3206) opposed Feb. 19, 1924 In v e stm e n t Recommendation 5 - in foreign bills by Federal Reserve Banks Sept. 25, 1924 Resolution 1 - - - - - - - - - 3 9 Page Legality o f acceptances drawn by banks to finance export transactions, also eligibility fo r Federal Reserve Banks Feb. 19, 1924 Topic 2 ....................................................1 McFadden Bill, H. R. 6855, re branch banking, Indorsement of objects and aims Feb. 19, 1924 Recommendation 6 ..................................................3 National Banking A ct Proposed amendments as contained in pending McFadden Bill, H. R. 6855, indorsed as to objects and aims Feb. 19, 1924 Recommendation 6 .................................................. 3 What amendments would the Council advise? Feb. 19, 1924 Topic 1 .................................................. 1 Nov. 24, 1924 Topic 2 .................................................. 11 National bank circulation Redemption on Feb. 1, 1925, o f $118,489,900-4% Loan of 1925 (Cir culation B onds), approved Sept. 25, 1924 Resolution 2 - - - - .......................9 Should Liberty bonds be refunded into bonds available for Nov. 24, 1924 Topic 4 .................................................. 12 Open market operations of Federal Reserve Banks Feb. 19, 1924 Topic 3 .................................................. 2 May 13, 1924 Topic 1 .................................................. 5 Nov. 24, 1924 Topic 1 ...................................................11 Percentages o f gold reserves, omission o f in weekly condensed statement sug gested, merely showing amounts Feb. 19, 1924 Topic 4 ...................................................2 Rates— Discount policy Feb. 19, 1924 Topic 3 ...................................................2 May 13, 1924 Topic 1 ...................................................5 Nov. 24, 1924 Topic 1 ...................................................11 Redemption on Feb. 1, 1925, o f $118,489,900-4% Loan of 1925 (Circulation B onds), approved Sept. 25, 1924 Resolution 2 ...................................................9 Rediscount and open market policies Feb. 19, 1924 May 13, 1924 Nov. 24, 1924 Topic 3 Topic 1 Topic 1 ....................................................2 ....................................................5 ....................................................11 Regulation H, Federal Reserve Board May 13, 1924 Topic 2 ...................................................5 Reserves, Proposed form o f weekly condensed statement of gold Feb. 19, 1924 Topic 4 ................................................... 2 Secretary o f the Treasury Redemption on Feb. 1, 1925, o f $118,489,900-4% Loan of 1925 (C ir culation B onds), approved Sept. 25, 1924 Resolution 2 ...................................................9 Statement o f combined gold reserves, proposed form o f weekly condensed Feb. 19, 1924 Topic 4 ...................................................2 Subdivision o f gold reserves Feb. 19, 1924 Topic 4 ...................................................2 Treasury Department Redemption on Feb. 1, 1925, o f $118,489,900-4% Loan of 1925 (Cir culation B onds), approved Sept. 25, 1924 Resolution 2 ...................................................9 Weekly Condensed Statement Publication o f amounts o f gold reserves without percentages sugorpqfpr? Feb. 19, 1924 Topic 4 ................................................... 2