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- Title
THE FEDERAL RESERVE BANKING SYSTEM IN OPERATION.
- Authors
Sprague, O. M. W.
- Abstract
The article presents information on the U.S. Federal Reserve banking system in operation. The Federal Reserve Act was passed on December 23, 1913, and after nearly a year devoted to the work of preliminary organization, the reserve banks, which are a group of central banks, were opened for business on November 16, 1914. It has become far more evident that the organization of the reserve banks and the acquisition by them of considerable resources were but a first, and that perhaps the simplest, stage in the development of the system.
- Subjects
UNITED States; BOARD of Governors of the Federal Reserve System (U.S.); BANKING industry; ORGANIZATION; CENTRAL banking industry; FINANCE; FINANCIAL institutions
- Publication
Quarterly Journal of Economics, 1916, Vol 30, Issue 4, p627
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1884237