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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 1330682092
- ISBN 13 9781330682098
- BindingPaperback
- LanguageEnglish
- Number of pages49
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The Discount System in Europe (Classic Reprint)
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Paperback. Condition: New. Print on Demand. This book delves into the intricacies of the European discount system, a cornerstone of the continent's financial infrastructure during the early 20th century. The author meticulously dissects the mechanics of this system, contrasting it with the American system of the time, which was primarily reliant on bonds and stocks. The narrative unravels the historical evolution of promissory notes into bills of exchange, and subsequently, the emergence of vibrant discount markets that facilitated the seamless exchange of these instruments. The author sheds light on the pivotal role of central banks in regulating the discount rate, thereby influencing the flow of money and credit within and across national borders. Delving deeper, the book explores the economic implications of the discount system, particularly its impact on financial stability and the mitigation of risks associated with international trade. The contrasting approaches to reserves and note issuance between Europe and America are meticulously examined, highlighting the potential vulnerabilities of the American system. Ultimately, this book underscores the significance of the discount system as a sophisticated tool for managing financial liquidity and fostering economic resilience, offering invaluable insights into the historical development and enduring relevance of this financial mechanism. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781330682098_0
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The Discount System in Europe Classic Reprint
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781330682098
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The Discount System in Europe Classic Reprint
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781330682098
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Warburg, P: Discount System in Europe (Classic Reprint)
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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 # 2147785754
Quantity: Over 20 available