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yagua, Mesura, a m p t h e B á m » arana
Tb« relationship b*t*aaa iba Traaaory aaA the Owtral Baak*
i.
Research rspori oo th« goT*n»«at of th« Bude of Frano* asda ihr##
yaara ago.
ai aliar »tudiaa on Kai oh» bank, Baofc of foglaiad, aad ih* Fad«imi
Basarre fly»t«a«
B*
Occiduaion at io proper relation »hip.
X*
Iba oantral baak aaat not r—
a#
Iapo»alblas
b.
Disastrous
(1)
(a)
a«
Dm IIsa.
Castrai bank would ba raorgs irisad» or
Qantral bank would ba ahaarad of ita authority («■parlaría* in t¿» folta* »tata» foUawiaf 1933).
A aantral baak should not ba aabaarriaBt*
a#
3#
In on Its CÜjaplan halfhta*
âafaty iafutilitgr*
Propar relationship
•If the a*otral bank undarstanAa that it la It# fwurtloa to
praaafit tha aooatajry polat of Tiaw oo «an sa* prohlaaa, aad
if lâ had Attsaaadad ln okt>1a1ag a fair «oaaldarmtloa ii
that poiaA of via* tbaa I thiak that it baa sskjrrad All
ths lAdaMndtoaa tkat it
kaTa* I tklak of the 1&»
Aaaaadaaaac af a asafcx*al back
i m i
t^a i ^ L M á a ^ i M
of aoa*tA¥7 prohlaaa aaA af acmj««* ia j*»f-kint tt ::TiWt't
a
at «**» ia taraa of a traditivi liiiitsf re*p*ot of %ha
{kjaanaMftt aad tha aahlAa A d vat ' tk
al
a# aku
faaA tkaA It Msaraiaaa sa vana Mtal aoaaaa **A a a l ba a
II*
fba perspective of ourr«nt probXaas.
À«
Tha Ooranaianti
B.
Absolarta^-to win ti» « x ^
Tha Traanjtry.
X»
Abaoluta— to finaooa tba war.
a*
Cholea i ttatbod* of flnanoing*
a#
Taxatiom.
b,
Borroviag aavlafs fro® awrratíl inaoaa
■
2“
o«
Borrowing aocuaulated tarings.
d.
Borrowing fro* ooaaereiaX banks.
e . Borrowing fro* tho Federal Reserve Buka*
0*
tho Federal Reserve Syeten.
X«
Absolutei
2«
Restricted action«
a«
Taxation,
(X)
b.
Advice with tho Treasury and Congress.
Borrowing savings— both fro« current laoooe and aeoumXatod«
(1)
3«
to m o that all necessary funds aro raised*
Adwiee with Treasury o r attractive issues.
Comparatively free action«
a* All aaaber banks shall bo supplied with funds«
XXI* Bvaluation of tho alternatives«
A*
Reduction of resort« requirements.
B* Open aarkot pnrchasee.
Direct purchase« Xiidied to
% biXlion«
%
6* Berroetag by a— bar beak»*
Wmm *•£• m
w
preferential nj**
Prie» of » a# ooopoB bond
to /laid
por m b * to ■fctw'lV «X 30 y m **
•
»
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* 16 ] T N N
a
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