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Photo of Chairman Marriner S. Eccles of the Federal Reserve Board Appearing Before the Senate Banking Committee

99-376
Accession Number
99-376
8x10 inches (21x26 cm)
Black & White
Printer-Friendly Version
NAID 350298371
Keywords
Banks and banking
Legislative hearings
People Pictured
Eccles, Marriner Stoddard, 1890-1977
Rights

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Credit:
Harris & Ewing

Harry S. Truman Library & Museum.

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Description
Chairman Marriner S. Eccles of the Federal Reserve Board appeared before the Senate Banking Committee to defend the Board's request for power to restrict bank credit by requiring banks to increase their reserves. His defense was aimed primarily at the criticism of bankers, who want the board to resort to traditional ways of restricting credit by increasing bank discount rates and refusing to buy bank-held bonds being sold to provide new reserves for deposits. From: Beth Gore.
Date(s)
December 4, 1947