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INVESTIGATIONS IN AGRICULTURAL ECONOMICS

THE FEDERAL INTERMEDIATE

CREDIT SYSTEM

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THE INSTITUTE OF ECONOMICS

The Carnegie Corporation of New York in establishing the Institute of Economics declared that "in committing to the Trustees the administration of the endowment of the Institute of Economics, over which the Corporation will have no control whatsoever, it has in mind a single purpose-namely, that the Institute shall be conducted with the sole object of ascertaining the facts about current economic problems and of interpreting these facts for the people of the United States in the most simple and understandable form. The Institute shall be administered by its Trustees without regard to the special interests of any group in the body politic, whether political, social or economic." In order that the Council and Staff of the Institute may enjoy the freedom which is conceded as essential to scientific progress, the Trustees of the Institute have adopted the following resolution: "The primary function of the Trustees is not to express their views upon the scientific investigations conducted by the Institute, but only to make it possible for such scientific work to be done under the most favorable auspices."

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PUBLICATIONS OF

THE INSTITUTE OF ECONOMICS

INVESTIGATIONS IN INTERNATIONAL ECONOMIC

RECONSTRUCTION

GERMANY'S CAPACITY TO PAY (1928) *

RUSSIAN DEBTS AND RUSSIAN RECONSTRUCTION (1924) *
THE REPARATION PLAN (1924) *

THE FRENCH DEBT PROBLEM (1925)

ITALY'S INTERNATIONAL ECONOMIC POSITION (For early

publication)

THE RUHR-LORRAINE INDUSTRIAL PROBLEM (1925)

INVESTIGATIONS IN INTERNATIONAL COMMERCIAL
POLICIES

SUGAR IN RELATION TO THE TARIFF (1924) *
TARIFF MAKING IN THE UNITED STATES (1924) *

THE TARIFF ON WOOL (1926)

INVESTIGATIONS IN AGRICULTURAL ECONOMICS AMERICAN AGRICULTURE AND THE EUROPEAN MARKET (1924) * THE FEDERAL INTERMEDIATE CREDIT SYSTEM (1926) FINANCING THE LIVE STOCK INDUSTRY (For early publication)

INVESTIGATIONS IN INDUSTRY AND LABOR

MINERS' WAGES AND THE COST OF COAL (1924) *
THE CASE OF BITUMINOUS COAL (1925)

INVESTIGATIONS IN FINANCE

INTEREST RATES AND STOCK SPECULATION (1925)

* Published by the McGraw-Hill Book Company.

INTERMEDIATE CREDIT

SYSTEM

BY

CLAUDE L. BENNER

WITH THE AID OF THE COUNCIL AND STAFF
OF THE INSTITUTE OF ECONOMICS

New York

THE MACMILLAN COMPANY

1926

All rights reserved

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