Excerpt from Amendment to Federal Reserve Act, Vol. 1: Hearing Before the Committee on Banking and Currency of the House of Representatives, on S. 2472, an Act to Amend the Act Approved December 23, 1913, Known as the Federal Reserve Act
The chairman. With that general introduction, you might as well go ahead and tell us what the changes are.
Mr. Ackerman. Yes° if I may. On page 1 of H. R. 8033, on line 9, the word principally was eliminated, making it read, Corpo rations to be organized for the purpose of engaging in international or foreign banking. With the word principally' eliminated, these corporations are now to engage exclusively with foreign countries, thereby, as I understand it, avoiding conflict with the Clayton Act. That is the reason that change was made.
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Paperback. Zustand: New. Print on Demand. This book provides insight into the creation of the Federal Reserve System in the United States. Specifically, it focuses on the efforts of the author, Ernest Ackerman, who alongside Senator Edge, successfully steered legislation to allow corporations with a focus on international banking to form under federal law. At the time, branches were permitted to be established only in foreign countries, but the book touches upon the later expansion of this provision, setting the stage for the international financial framework we know today. The history provided in this book is vital for understanding the development of US banking and global financial markets. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Bestandsnummer des Verkäufers 9780331016482_0
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PAP. Zustand: New. New Book. Shipped from UK. Established seller since 2000. Bestandsnummer des Verkäufers LW-9780331016482
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