Show The Large Banks J Control Funds The Federal reserve board said today August 24 24 the billion dollar currency expansion power given national banks under the Glass Borah amendment to the home loan law was held chiefly by a few large banks and if ex- ex fully would affect the reserve systems system's influence on the general credit situation In its monthly of b busl- busl l- l and financial conditions the board declared additional issues of national bank notes at this time would not tend to increase circulation but only substitute that variety for federal reserve currency It sounded Bounded a warning of what might be expected If Jf national banks took full advantage of ot the new law I IThe The ability of the national banks batiks batiks' to obtain currency without resorting to the federal reserve banks will have an effect the board said not only on th the vol- vol lume of ot federal currency but also and and more Importantly on the poI position position po po- of the federal reserve reserve banks I and the Influence of the federal reserve system on the general credit system The system The Salt Lake Tri Tribune une |