Pation on the part of the Federal Reserve Banks. Stimson said there had been no recent devel- this world-bank. Opments to change the Government's position as Federal Reserve Banks and their own experience inĪnnounced by him on May 16, and again declared trying to cope with the home credit situation is conthat the American Government did not desire to clusive evidence that the Reserve Banks have quite Have any American official participate in the collec- enough to do in attending to their own affairs, withtion of German reparations through the bank or any out undertaking the regulation of the banking situaother agency. Reserve Bank be designated to of the central banks of Europe may at times be It is quite true that financial assistance in aidĬent suggestions from abroad that an official of a Newspaper accounts stated that re- tion of the whole world. Even such not by our Federal Reserve Banks, who are the Institution had evoked little response in high Ad- needed, but it should be done by private bankers and Assistance should be freely granted, when Participate in the management of the International required.
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