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 ... as the Federal Reserve Act (Classic Reprint) - Softcover

Inhaltsangabe

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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