By Reese, Andrew Richard; Reese, Harry Burnett
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Extra resources for Reese's peanut butter cups : the untold story
Proposal for the National Bonds Act In 1949, when I was working for the Monetary Policy Department, I was called in to see the vice minister of finance. He informed me that the government was about to issue national bonds, and asked me if I knew much about national debt. When I said that I did, he asked me to draft a proposal. I prepared a proposal for the National Bonds Act, and submitted it along with a lengthy commentary gathered from my research on the Supreme Court cases during the Japanese occupation.
Later he became the president of Cho-Heung Bank, one of Korea's five major commercial banks, and was a long-time member of the Bank of Korea's Monetary Board. Immediately on joining the Bank of Chosun, I was conscripted into the Japanese army as one of the first Koreans to be so conscripted. In 1945, at the end of the war, I returned from the army after being a victim of the Hiroshima atom bomb, and rejoined the Bank of Chosun. At the Bank of Chosun The atmosphere of every workplace in those days was turbulent, because of the struggles among Koreans taking over management from the Japa- Page 2 nese.
I not only tried to control total demand, but also paid attention to the supply and demand situation in many individual areas. I was not content with the wholesale price index report sent by the Page 19 Bank of Korea every ten days. I asked the bank to report the index every morning to help me draw up a plan. I was extremely busy, mobilizing the finance and banking resources that I supervised and enlisting other ministries' cooperation in the use of transportation and aid funds, the adjustment of import items, and the implementation of regulatory actions against hoarding.
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