The Speeches of the Bank Chairmen (1924–1927)
We have an admirable custom in this country by which once a year the overlords of the Big Five desist for a day from the thankless task of persuading their customers to accept loans and, putting on cap and gown, mount the lecturer’s rostrum to expound the theory of their practice—a sort of saturnalia, during which we are all ephemerally equal with words for weapons. These occasions are of great general interest. But they are more than this. They have a representative significance; they hold up, as it were, financial fashion plates. What have they found to say this year about monetary policy?
KeywordsMonetary Policy Price Level Foreign Investment Federal Reserve Export Trade
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