Excerpt from Discount Rates of the Federal Reserve Banks, 1914-1921Sections 13 and 14 of the Federal Reserve Act authorize the Federal reserve banks to discount, rediscount, or purchase paper of the classes and maturities (exclusive of days of grace) indicated below.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.