Hearing Before the Committee on Agriculture, House of Representatives, Seventy-fourth Congress, First[-second] Session...U.S. Government Printing Office, 1935 |
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Page 3
... currency is based on actual value , backed up by actual security , not merely debts . Up to the present time , our currency has been based upon debts , without real security . This time we offer real security . And the question is asked ...
... currency is based on actual value , backed up by actual security , not merely debts . Up to the present time , our currency has been based upon debts , without real security . This time we offer real security . And the question is asked ...
Page 4
... currency . On February 28 , 1933 , the per capita circulation was $ 52.23 , whereas on January 31 , 1935 - and I am telling you this to call attention to the fact that it may be lower , according to this ratio - the circulaion on ...
... currency . On February 28 , 1933 , the per capita circulation was $ 52.23 , whereas on January 31 , 1935 - and I am telling you this to call attention to the fact that it may be lower , according to this ratio - the circulaion on ...
Page 6
... currency and also credit ? Mr. LEMKE . No. Mr. MARSHALL . You do not mean credit ? Mr. LEMKE . Not credit money ; that is a different thing entirely . Mr. MARSHALL . Then you do not have any reference to credit money in that per capita ...
... currency and also credit ? Mr. LEMKE . No. Mr. MARSHALL . You do not mean credit ? Mr. LEMKE . Not credit money ; that is a different thing entirely . Mr. MARSHALL . Then you do not have any reference to credit money in that per capita ...
Page 7
... currency upon which we could successfully base bank credit or bank money . In France , they have about $ 1 of base money for every dollar of credit money . In the United States , in October 1929 , we had about 20 times as much credit ...
... currency upon which we could successfully base bank credit or bank money . In France , they have about $ 1 of base money for every dollar of credit money . In the United States , in October 1929 , we had about 20 times as much credit ...
Page 8
... currency . Let me give you this illustration : In my own State , in my own home city of Fargo , I have in my office $ 20,000 of accounts on my books - I presume some of you have accounts like that - accounts which were created when I ...
... currency . Let me give you this illustration : In my own State , in my own home city of Fargo , I have in my office $ 20,000 of accounts on my books - I presume some of you have accounts like that - accounts which were created when I ...
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Common terms and phrases
12 percent acres agriculture amended amortization amount ANDRESEN bankers benefit BIERMANN billion BINDERUP BOILEAU borrower CHAIRMAN circulation committee Congress cost credit money CUMMINGS currency debentures debt deposits discount district dollars DOXEY Farm Credit Administration farm indebtedness Farm Loan Act farm mortgages farmers Federal Farm Loan Federal land bank Federal Reserve banks Federal Reserve notes Federal Reserve System foreclosure Frazier-Lemke bill FULMER funds GILCHRIST give going gold Government Governor home owners HOVEY HULL interest rate intermediate credit banks issuance issuing bank legislation LENNON limited MARSHALL Marvin Jones Michigan MYERS national farm-loan associations North Dakota notes issued O'BRIEN operate outstanding paid passed PATMAN payments percent interest PIERCE present production credit associations profits provides purchase question rate of interest refinancing saving sell situation statement surplus TALBOTT taxes tenant THATCHER tion Treasury Union United
Popular passages
Page 82 - ... shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association to the extent of the amount of their stock therein at the par value thereof, in addition to the amount invested in such shares...
Page 97 - I had been of some service, thought fit to reward me by employing me in printing the money ; a very profitable job and a great help to me. This was another advantage gained by my being able to write.
Page 155 - The plates and dies to be procured by the Comptroller of the Currency for the printing of such circulating notes shall remain under his control and direction, and the expenses necessarily incurred in executing the laws...
Page 97 - The Constitution provides that Congress shall have the power to coin money and regulate the value thereof.
Page 82 - Ten or more natural persons who are the owners, or about to become the owners, of farm land qualified as security for a mortgage loan under section twelve of this Act, may unite to form a national farm loan association.
Page 37 - STATEMENT OF HON. MERLIN HULL, A REPRESENTATIVE IN CONGRESS FROM THE STATE OF WISCONSIN Mr. HULL. Mr. Chairman...
Page 83 - No agent other than a duly incorporated bank, trust company, mortgage company, or savings institution, chartered by the State in which it has its principal office, shall be employed under the provisions of this section.
Page 154 - The Corporation shall be entitled to the free use of the United States mails in the same manner as the executive departments of the Government.
Page 155 - The examination of plates, dies, bed pieces, and so forth, and regulations relating to such examination of plates, dies, and so forth, of national-bank notes provided for in section fifty-one hundred and seventy-four Revised Statutes, is hereby extended to include notes herein provided for.
Page 60 - Act the land banks may loan 50 percent of the appraised value of the land plus 20 percent of the insured value of the buildings. A commissioner's loan may be obtained for an additional 25 percent. It has been estimated that the average farm in the United States has improvements of equal value with the land. Therefore, the following illustrations for purposes of comparison should be substantially correct. Assume that the mortgage is...