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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