The Federal Reserve Act of 1913

O. M. W. Sprague

The Quarterly Journal of Economics, 1914, vol. 28, issue 2, 213-254

Abstract: I. Spirit and obiects of the act, 213. — Advantages of the plan of regional banks, 216. — II. Organization of the system, 222. — Directors of the Federal Reserve Banks, 224. — Federal Reserve Board, 226. — III. Capital, earnings, deposits of the Federal Reserve Banks, 228. — New reserve requirements for national banks, 231. — IV. Clearing House functions of the Federal Reserve Banks, 234. — V. Federal reserve notes, 237. — National bank notes, 241. — VI. Lending operations of Federal Reserve Banks, 243. — How far operations with general public, 245. — VII. Additional powers granted to national banks, 249. — VIII. Supervisory functions of Federal Reserve Board, 251. — Probable relations of this Board to directors of Reserve Banks, 252.

Date: 1914
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