Credit Policies of the Federal Reserve

In this historical gem originally published in 1932, Charles Hardy examines the history of the Federal Reserve's policies and their impact on the organization of the banking system in the post-World War I period. Mr. Hardy deals with the fundamental problems of central banking policy, namely, the purposes which an organized banking system should seek to accomplish, the efficiency of the means which such a system has at its command, and the tests by which it can gauge the success of its effo...