Show Motion Picture Explains Federal Reserve System The history and philosophy of the federal reserve system and the methods by which it is designed to cushion the effects of economic upheavals up up- upheavals upheavals are explained in a new edu edu- educational educational educational motion picture In layman's language the film ilm The Federal Reserve System points out the disastrous effect a money panic has on the economic system and how a temporary money short short- shortage shortage shortage I age such as that in 1907 could have hav been eliminated by a federal bank bank- banking banking bankins I ing ins organization I i I The origin of the federal reserve system in such financial crises is examined and its development in inthe inthe the debates of 1913 1912 period are shown in dramatic sequences from the lives of Wilson Carter Glass and other American states states- statesmen statesmen statesmen men who led the fight for national banking legislation The third sec sec- section section section tion of the film discusses the 1935 period when the federal reserve act was modified mod to provide security against a depression such as that of 1929 The film describes how the re re- reserve reserve reserve serve system can influence economic eco eco- economic economic stability by increasing or de de- decreasing decreasing decreasing creasing the rediscounting rate on commercial paper changing the legal requirements on the ratio of reserves to deposits in the member banks and by its own buying and selling of government securities on the open market The story of the federal reserve system is told in the the- the film film through the use of dramatic incident plus the use of a few animated drawings In the production particular em em- emphasis emphasis emphasis was placed on casting to achieve as great a similarity as possible between the actors and the characters portrayed A great portion of the dialogue in inthe inthe I the film is historically authentic having been taken from reports biographies diaries and other sources of exact verbal records Many of the sets used in the film also were reproduced to be authentic tic to the last detail |