National Budgeting and the Federal Reserve in War Financing
The piece argues that U S war financing hinges on production and saving, with the Federal Reserve system reshaping liquidity and asset composition. It notes three major shifts: reserve concentration, expanded note issues, and greater rediscounting of private obligations, warning that mismanagement could fuel inflation and harm the economy amid wartime pressures. It emphasizes the Fed’s role as fiscal agent and lender to commerce, urging prudent use to avoid non liquid assets and speculative dangers.
MENTIONED IN THIS ARTICLE
University of Pennsylvania
United States
Europe
Congress
Federal Reserve Banks
National Bank
Federal Reserve Bank
Federal Reserve
Federal Reserve System
Federal Reserve Board
Federa
Twas
Wilson
McAdoo
Treasury
Publiq Wehich Joana
Secretary of the Treasury
War Finance Corporation Act
War Finance Corporation
Reserve
Inflation Pressure and Industrial Production in War Time
The article analyzes how rising prices strain the banking system and public finances, noting increased liabilities, inflationary pressures, and the need to mobilize resources. It discusses reserve bank behaviors, rediscounts, and the impact on small-income households. It then questions the effect of a higher price level on industrial production amid wartime conditions.
MENTIONED IN THIS ARTICLE
Federal Reserve
United States
Cleveland
Richmond
Inflation and wage pressures threaten wartime economy
The text discusses how changing price levels create uncertainty in contracts and long commitments, causing hesitancy in production and lagging wages. It notes rising costs for materials and labor, wage shifts, and labor turnover, with inflation fueling industrial unrest. It calls for centralized banking and warns against further inflation and reserve cuts, urging resistance to risky proposals.
MENTIONED IN THIS ARTICLE
British Commission On
United States
Bradstreet
Transactions in Listed Stocks Capital finance notes and quotes
Yesterday's market page lists NYSE closing quotations with many stocks and bonds. It shows Liberty, Am Can, Am Car and Fy, and Alaska Gold Mines among others with bid and ask figures, high lows, and dividends, reflecting wide sector movements and ongoing economic considerations.
Government Warns No Rise in Crude Oil Prices
Chairman Bedford of the Federal Petroleum War Service Committee says federal authorities will vigorously oppose any price increases or premiums for crude oil. The fuel administration, through Mr. Requa, urges refiners and producers in Kansas and Oklahoma to agree on stabilization plans to prevent price distortions and ensure adequate supply for the nation and allies.
MENTIONED IN THIS ARTICLE
Bedford
War Committee
United States
Thomas A. O'Donnell
Fuel Administration
A. C. Bedford
Federal Petroleum War Service Committee
Hays
M.L. Requa
Oil Division
Kansas
Oklahoma
National Petroleum War Service Committee
Requa
Kansas City
National Pedleum War Service Committee
Nam Up
Nations Petroleum War Service Committee
Nazio
Avery Intereat Fis Vol Hd
Stock Market Weekends Quiet Amid Narrow Fluctuations
Trading in stocks yesterday remained largely at a nominal level with professional interest focused on a few speculative issues in metals oils and related shares. Major indicators showed slight pressure on rails and United States Steel while others held steady. Reading posted a May surplus loss and Canadian Pacific a net decline of 864000. Bond activity was irregular with Liberty issues easing and U S 2s and 4s old issue edging down on call. dividends noted for St Paul and B R T.
MENTIONED IN THIS ARTICLE
Rails
United States Steel
Canadian Pacific
Federal Reserve Institution
United States
Also Mentioned on This Page
E. M. Patterson
Wilson Warna
New York Stock Exchange
Laat
Eee Eneomans
IBV
Fygiharty Sis
JUS Liberty
Rumely
Alaska
Juneau
Int Corp
Sumatra
Tel & Tel
Yvvvss
Atlantic
Birm & Ad
Atlantic G &W I
Atlantic G & W I Pr
Ealt & Ohio
Barrett Co
Batopilas Mining
Heth Steel
Deth Steel
Beth Steel Ath Pr. Yoo
Brooklyn RT
Wat
Booth Fisherie
Shea
Brunswick
Butte Cap & Zinc
Butte & Sup Copper
Cal Petroleum
Yowu
Cerro de Pasco
Chen & Ohio
Chicago
Gt Western
China
Col Gan & Electe
Hordewux
Anon
Toonage
Donies Iy
Mus. Boag
Detroit
Edison
Distillers Securities
Paris
Free Star Battery
Elk Horn
Erle
Gen Motors
Goodrich BF
Goodrich BP
Do Atsing Ou
Ge Northen Drea
Sane
Mines
Agricul
City of
Tokio
Cutan
Mary of NJ
Mer Marine
Nertonsargnd
Ife
Do Aris
Norway
Gsig
Quebec City
Fis
Kennecott
Quebec
Fincat
Wsles Bis Co
Wiles Bu Co
Sis
Miami Con
Midvale Steel
Narva AO
Etrug
Nat R R
Mex
Nevada
Nynh& I
Northern Pacific
Scotia
Stellie
Ohio
Vere Reserve
Bere Mara
Philadelphia Co
Pittsburgh Coal
Jachinverents
Pitts & W Va
Shinery
Reg Iron & Bteels
CBA
St PM & M
Sinelaie
Ora Ae
Aoe
Cot Aw & Sen Ta
Taton
CRI
del eHile
S.yy
Wong Finan
Active Securities
St. Paul Common
Clorech
St Louis
San F
Seaboard
Roebuck
Shattuck Aziz
Sinclair Oil
Southern Pacific
Southern RR
Southern R R Pr
Bele Standard Milling
Studebaker
Tenn Cop & Chem
Texan Co
U S
Union Pacific
Union Pacific Pr
United Alloy Steel
1. S. Government
United Cigar Stores
Railroads Aennee
Scip &Fy
Ipse
Utah Copper
Va Iron Coal & Coke
Apo
Ile
Wabash Pr
Industers
West Maryland
Blocks
West Pacific
Ole S
Wheel & L. E
Willys Overland
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