Established 1885 · Reestablished 2026
American Protective Tariff League

Library · AISA

The Iron Age 1929-08-15: Vol 124 Iss 7

1929 Reed Business Information US

Read in full

Hosted at the Internet Archive · Open on archive.org

Opening Pages

(ts New York. August 15, 1929 ESTABLISHED 1855 VOI 24, No. 7 =. e ” O arm jor industry in a SUT eae . f * / eserve 1 ; (7 x « 5 BY VIRGIL JORDAN HE action of the New York Federal Reserve Bank isiness men uneasy. but which the tock market is dete. Aug. 8 is probably far simpler and more consistent mined to ignore. This fact is that money is abnormally in its purpose and effects than are the rather far high, which means merely that credit is scarce in com- fetched and abstruse attempts to explain it. I do not parison with the demand for it. This is true the world think the large and sudden raise in the discount rate and vel It has been increasingly true in the past two years, the equally large cut in the rate on bankers’ bills should and will remain true as far ahead as one can see, unless be regarded as another attempt to scare, break or control there should be a radical change in banking policy and the stock market, or to discriminate against it. If th business philosophy. market chose to regard it as such, that tells more about the market’s state of mind than it does about the Federal Rediscount Rate Does Not Fully Reflect Money Tightness > *vwoa’e r 1 1 1 . } Reserve’s. The centr…

Citation

The Iron Age 1929-08-15: Vol 124 Iss 7. Reed Business Information US. 1929.