BANKS' PART.
IN AMERICAN FINANCE. WASHINGTON, December 26. An intensive participation by the banks in the securities market is reported by a committee of the United States Senate to have exaggerated business fluctuations and undermined economic stability. This committee, headed by Mr. C. Glass (Democrat, Virginia), was set up by the last Congress to survey the national and Federal Reserve banking systems. In spite of the very significant and mischievous role played 'bv brokers loans for the account of others during the stock market inflation, the report n ° special steps were reported by the Federal Reserve to investigate them for the purposes of future control until the present investigation was ordered by the Senate's Committee on banking and currency.
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Auckland Star, Volume LXII, Issue 306, 28 December 1931, Page 4
Word Count
119BANKS' PART. Auckland Star, Volume LXII, Issue 306, 28 December 1931, Page 4
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