Gold Reserve Act of 1934: Hearings Before the Committee on Coinage, Weights and Measures, House of Representatives, Seventy-third Congress, Second Session, on H.R. 6976Considers legislation to transfer to U.S. Treasury ownership and possession of Federal Reserve Bank gold stock and to prohibit gold coinage and redemption of currency in gold. |
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Common terms and phrases
American amount of gold authorized bankers believe bill bonds capital cents CHAIRMAN circulation coinage collateral committee commodity prices Congress currency debts demand deposits depreciated ELTSE England exchange export Father COUGHLIN Federal Reserve Act Federal Reserve agent Federal Reserve banks Federal Reserve Board Federal Reserve notes Federal Reserve System FIESINGER fixed France going gold certificates gold coin gold content gold dollar GOLD RESERVE ACT gold standard gold value Government inflation interest JANNEY lawful money maintain McGUGIN member banks ment monetary base monetary gold nations NORRIS notes issued ounce paragraph payable in gold percent PERKINS pound President price level production profit purchasing power purpose question redeemed redemption regulate the value revaluation Secretary Senator CONNALLY Senator GORE silver SPRAGUE stabilization fund thing tion Treasury United value of gold VANDERLIP WARBURG wheat WHITE
Popular passages
Page 195 - Corporation shall be exempt, both as to principal and interest, from all taxation now or hereafter imposed by the United States, any State, or any of the possessions of the United States, or by any local taxing authority...
Page 189 - In compliance with clause 3 of rule XIII of the Rules of the House of Representatives, changes in existing law made by the bill, as reported, are shown as follows (existing law proposed to be omitted is enclosed...
Page 191 - ... discretion of the Secretary for the purposes of this Act, and should the appropriations heretofore made be insufficient to meet the requirements of this Act in addition to circulating notes provided for by existing law, the Secretary is hereby authorized to use so much of any funds in the Treasury not otherwise appropriated for the purpose of furnishing the notes aforesaid : Provided, however, That nothing in this section contained shall be construed as exempting national banks or Federal reserve...
Page 192 - The Federal Reserve Board shall, by rule, fix the charges to be collected by the member banks from its patrons whose checks are cleared through the Federal reserve bank...
Page 130 - Treasurer otherwise than for redemption may be exchanged for gold certificates out of the redemption fund hereinafter provided and returned to the Reserve bank through which they were originally issued, or they may be returned to such bank for the credit of the United States.
Page 196 - Any Federal reserve bank may make advances for periods not exceeding fifteen days to its member banks on their promissory notes secured by the deposit or pledge of bonds, notes, certificates of indebtedness, or Treasury bills of the United States...
Page 131 - The Federal Reserve Board shall require each Federal reserve bank to maintain on deposit in the Treasury of the United States a sum in gold sufficient in the judgment of the Secretary of the Treasury for the redemption of the Federal reserve notes issued to such bank...
Page 194 - The principal and interest thereof shall be payable in United States gold coin of the present standard of value...
Page 209 - ... shall be forfeited to the United States, and may be seized and condemned by like proceedings as those provided by law for the forfeiture, seizure and condemnation of property imported into the United States contrary to law.
Page 195 - Treasury be, and he is hereby, authorized to borrow, from time to time, on the credit of the United States...