Abstract

The Federal Reserve System

This article presents information on the book "The Federal Reserve System: Its Origin and Growth," by author Paul M. Warburg. This two imposing volumes on the Federal Reserve System are at once a historical document of the very first importance, a theoretical treatise of extraordinary interest, and a valuable manual of detailed advice for financiers and statesmen. The essential facts of the origin and largely development of the Federal Reserve System are established beyond the possibility of successful question. The theoretical foundations of that system are set forth with extraordinary clarity of thought and elegance of exposition. The dangers threatening the system and the practical methods of avoiding them are pointed out with a directness and simplicity that make unnecessary any parade of the profound knowledge of fact and theory underlying the suggestions.