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Excerpt from The History, Organization and Influence of the Independent Treasury, of the United States This essay was begun with the purpose only of tracing the influence of the Independent Treasury on business, the part which constitutes chapter vi. of the book. But in view of the growing importance of the subject, it seemed best to make the study as complete as my opportunities would permit. It is hoped that some light is thrown on a matter that will force itself on public attention before many years more, if the evil of the system continues to grow, as it is likely to do. The essay was begun with a prejudice in favor of the sub-treasury system, because it seemed pre-eminently an institution of the people. But as a result of the investigation I have been forced to change my opinion, and regard the system as injurious to the business interests of the country. I owe thanks to the many friends who have cordially helped me with suggestions, material, and criticism. Dr. Ely, the editor, has kindly encouraged me from time to time in the work, and made helpful suggestions on many points. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.