Salt Lake Herald-Republican | 1916-11-22 | Page 3 | Control of Gold Supply is Urged

CONTROL OF GOLD COLD SUPPLY IS URGED Reserve Board Advocates pleasures Measures to Prevent Undue Undue Undue Un Un- due Expansion Washington Nov 0 21 Tho Tho federal reserve board and the federal advisory council agre agreed d' d at a Joint conference to today today to- to day dav that there were no unavoidable d dangers in th the tho continued extraordinary inlo- inlo of oC European gold old in settlement of oC trade balances lances but that proper methods must h be ho employed to control the gold sold su supply pl and to prevent ent undue I expansion Close to Is represented represented rep rep- resented In the net Inward movement of gold old this year c r without any In Indication Indication Indica Indica- tion lion o of diminishing or reversal of this movement mo Tho conference clo closed ed the quarterly meeting of oC the advisory advisor council composed composed composed com com- posed of prominent b bankers representing represent represent- In ing the various federal reserve dis dis- The councils council's recommendation to the board Included renewal of oC the proposition to authorize national I banks in to i federal deral reserve o and central reserve o cities to establish branches within those cities Encouragement o of lra transfer 1 er to the federal reserve banks of oC the tho mone money in the vaults aulls of oC m member banks bank greater caution as to protracted I renewal credits and reduction of oC excess ex excess ex- ex cess reserves by beginning e at it the end of this winter to count the balances held b by reger reserve e agents not as reserve but as bank balances Both the board and council agreed that business conditions conditions conditions con con- wore were excellent