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The Federal Reserve Act of 1913

Author

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  • O. M. W. Sprague

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.

Suggested Citation

  • O. M. W. Sprague, 1914. "The Federal Reserve Act of 1913," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 28(2), pages 213-254.
    • Handle: RePEc:oup:qjecon:v:28:y:1914:i:2:p:213-254.
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    File URL: http://hdl.handle.net/10.2307/1883621
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    Cited by:

    1. Rockoff, Hugh, 2015. "O.M.W. Sprague (the man who “wrote the book” on financial crises) and the founding of the Federal Reserve," Journal of Financial Stability, Elsevier, vol. 17(C), pages 35-45.
    2. Marvin Goodfriend & Monica Hargraves, 1983. "A historical assessment of the rationales and functions of reserve requirements," Economic Review, Federal Reserve Bank of Richmond, vol. 69(Mar), pages 3-21.
    3. Parinitha Sastry, 2018. "The political origins of Section 13(3) of the Federal Reserve Act," Economic Policy Review, Federal Reserve Bank of New York, issue 24-1, pages 1-33.
    4. David C. Wheelock, 2015. "Economics and Politics in Selecting Federal Reserve Cities: Why Missouri Has Two Reserve Banks," Review, Federal Reserve Bank of St. Louis, vol. 97(4), pages 269-288.
    5. Matthew Jaremski & David C. Wheelock, 2015. "Banker Preferences, Interbank Connections, and the Enduring Structure of the Federal Reserve System," Working Papers 2015-11, Federal Reserve Bank of St. Louis.
    6. K.Vela Velupillai, 2014. "One Hundred Years Ago - Economic Theory in 1914," ASSRU Discussion Papers 1408, ASSRU - Algorithmic Social Science Research Unit.
    7. Singleton,John, 2010. "Central Banking in the Twentieth Century," Cambridge Books, Cambridge University Press, number 9780521899093, October.

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