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Northwest Bancorporation Directors1 Meeting August 24, 1965 Foster a flow of credit and money that will facilitate orderly economic growth, a stable dollar, and a long run balance in our international payments. Article I, Section 8, Clause 5: The Congress shall have power to coin money, regulate the value thereof, and of foreign coin. Federal Reserve System never has been tested for const, compliance. Court has refused to accept jurisdiction of cases. Power of Congress is absolute -Gold cases Legal tender Greenbacks The court is powerless round rules can be changed. Harsh results. Explosive evolution of banking industry -• Computers Change in money mix Trust services Federal funds market International considerations Deliberate and positive effort -Fiscal policy Monetary policy 1342 1171 926 597 494 banks (insured) are under 10 M are under 5 M non par are members of Fed. Res Average of all member banks: Average of all non-member banks: X 13.3 M 3.5 M 38 < //e>6 2 Q -+ -P •
@FedFRASER