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Synopsis
Excerpt from The Discount System in Europe
If banks were to keep, in cash, all the money deposited with them, business would come to a standstill and a crisis would ensue. If banks were to lend to those who apply for loans all the money on deposit with them, a general panic and collapse would follow a short period of overstimulation. Between these two extremes lies the middle course, the finding of which is the problem, and its practice the art of banking.
No mathematical rule can state the correct proportion between reserves and demand obligations. The proper solution of this question depends in each country on its varying political and economic conditions and on its financial system. This general principle, however, may be safely laid down: with the present system of immense deposits payable on demand, and, by right, payable in gold, at the option of the payee, only that structure is safe and efficient which provides for effective concentration of cash reserves and their freest use in case of need, and enables the banks, when necessary, to turn into cash a maximum of their assets with a minimum of disturbance to general conditions.
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This 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.
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- PublisherForgotten Books
- Publication date2020
- ISBN 10 0332141667
- ISBN 13 9780332141664
- BindingHardcover
- LanguageEnglish
- Number of pages47
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The Discount System in Europe Classic Reprint
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HRD. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LX-9780332141664
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The Discount System in Europe Classic Reprint
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HRD. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LX-9780332141664
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Warburg, P: Discount System in Europe (Classic Reprint)
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Gebunden. Condition: New. KlappentextrnrnExcerpt from The Discount System in EuropeIf banks were to keep, in cash, all the money deposited with them, business would come to a standstill and a crisis would ensue. If banks were to lend to those who apply for loans . Seller Inventory # 2144535086
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