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" The net earnings derived by the United States from Federal reserve banks shall, in the discretion of the Secretary, be used to supplement the gold reserve held against outstanding United States notes, or shall be applied to the reduction of the outstanding... "
Congressional Record: Proceedings and Debates of the ... Congress - Page 5507
by United States. Congress - 1923
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Money and Banking

John Thom Holdsworth - 1917 - 538 pages
...derived by the Government are to be used, in the discretion of the Secretary of the Treasury, either to supplement the gold reserve held against outstanding United States notes, or to reduce the. bonded indebtedness of the United States under regulations to be prescribed by the Secretary....
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Money and Investments: A Reference Book for Use of Those Desiring ...

Montgomery Rollins - 1917 - 528 pages
...in the discretion of the Secy., be used to supplement the gold reserve held against outstanding US notes, or shall be applied to the reduction of the outstanding bonded debt of the US under regulations to be prescribed by the Secy. of the Treas. Should a Fed. Res. bank...
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Organized Banking

Eugene Ewald Agger - 1918 - 406 pages
...derived by the United States from Federal reserve banks shall, in the discretion of the Secretary, be used to supplement the gold reserve held against...by the Secretary of the Treasury. Should a Federal reserve bank be dissolved or go into liquidation, any surplus remaining, after the payment of all debts,...
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Annual Report, Volume 5

Board of Governors of the Federal Reserve System (U.S.) - 1919 - 948 pages
...Reserve Banks, which are paid to the Government under existing laws as a franchise tax, are used either to supplement the gold reserve held against outstanding United States notes, or to reduce the outstanding bonded indebtedness of the United States. The law provides that should a...
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Money and Banking

John Thom Holdsworth - 1920 - 540 pages
...of the Secretary, be used or to reduce the to supplement the gold reserve held against bonded debt. outstanding United States notes, or shall be applied...by the Secretary of the Treasury. Should a Federal , reserve bank be dissolved or go into liquidation, any surplus remaining, after the payment of all...
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The A B C of the Federal Reserve System

Edwin Walter Kemmerer - 1920 - 234 pages
...of the Secretary, be used to supplement j»«sj the gold reserve held against outstanding ernment. United States notes, or shall be applied to the reduction...by the Secretary of the Treasury. Should a Federal reserve bank be dissolved or go into liquidation, any surplus remaining, after the payment of all debts,...
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Banking Progress

James Laurence Laughlin - 1920 - 376 pages
...greenbacks is that (Sec. 7) which devotes the net earnings from Reserve Banks accruing to the United States "to supplement the gold reserve held against outstanding United States notes," or to reduce the bonded indebtedness, at the discretion of the secretary of the treasury.2 The direct...
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Burnham's Manual of Chicago Securities, Issue 4

1921 - 560 pages
...Transferred to Surplus 14.688,499.56 Paid to the United States as a franchise tax to be used either to supplement the gold reserve held against outstanding United States notes, or applied to the reduction of the outstanding bonded indebtedness of the United States 10,394,480.26...
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Rural Credits: Hearings Before the Committee on Banking and Currency, United ...

United States. Congress. Senate. Committee on Banking and Currency - 1922 - 418 pages
...joint-stock land banks that may go into liquidation, and one-half of said net earnings shall, in the discretion of the Secretary of the Treasury, be used...prescribed by the Secretary of the Treasury. Should a joint-stock land bank be dissolved or go into liquidation any surplus remaining, after the payment...
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Rural Credits: Hearings Before the Committee on Banking and Currency, United ...

United States. Congress. Senate. Committee on Banking and Currency - 1922 - 418 pages
...joint-stock land banks that may go into liquidation, and one-half of said net earnings shall, in the discretion of the Secretary of the Treasury, be used...prescribed by the Secretary of the Treasury. Should a joint-stock land bank be dissolved or go into liquidation any surplus remaining, after the payment...
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