Principles of Money and Banking: A Series of Selected MaterialsUniversity of Chicago Press, 1916 - 785 pages |
From inside the book
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Page 16
... existence is necessary to society . The use of money is all the advantage there is in having it , yet money makes up in a measure all other wants in man . The greatest want of the commercial and business life of this country today is ...
... existence is necessary to society . The use of money is all the advantage there is in having it , yet money makes up in a measure all other wants in man . The greatest want of the commercial and business life of this country today is ...
Page 40
... existence of such a unit makes economic calculation possible . It furnishes the indispensable term for the establishment of accounting systems , which are only devices for accurately analyzing schemes of values . It is evident that , as ...
... existence of such a unit makes economic calculation possible . It furnishes the indispensable term for the establishment of accounting systems , which are only devices for accurately analyzing schemes of values . It is evident that , as ...
Page 72
... existence than they threw themselves with feverish activity into the development of trade with the East . Florence and Venice , Pisa and Genoa , led the way and reaped the fruits ; and it was in her most flourishing time , when she had ...
... existence than they threw themselves with feverish activity into the development of trade with the East . Florence and Venice , Pisa and Genoa , led the way and reaped the fruits ; and it was in her most flourishing time , when she had ...
Page 93
... existence being the penny , which contained the two hundred and fortieth part of a pound of silver ; but a shilling if then coined would have contained the twentieth part of a pound , and the pound sterling would have weighed a pound ...
... existence being the penny , which contained the two hundred and fortieth part of a pound of silver ; but a shilling if then coined would have contained the twentieth part of a pound , and the pound sterling would have weighed a pound ...
Page 102
... existence and performing service quite as though it were fresh from the mines of the Klondike . The result of this accumulated world's supply is to render any yearly change in output less and less effective in influencing the value ...
... existence and performing service quite as though it were fresh from the mines of the Klondike . The result of this accumulated world's supply is to render any yearly change in output less and less effective in influencing the value ...
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Common terms and phrases
¹ Adapted amount assignats associations bank notes bankers bills of credit bimetallism bonds borrower bullion capital cash cent certificates checks circulation cities clearing-house commercial paper commodities Congress contract debts demand denominator depositors deposits depreciation discount economic export farm farmers Federal Reserve Act Federal Reserve Bank Federal Reserve Board functions funds gold and silver gold coin gold standard grains greenbacks Gresham's law important increase index number indorsement industry investment issue labor legal tender legal-tender less liabilities loans medium of exchange member banks ment merchant monetary mortgage national banks obligations operation paid paper money payable period practice precious metals present production profit purchase purpose quantity ratio receipts received redeemed redemption result seignorage sell silver coins silver dollar specie supply tion token coins trade transactions trust companies United United States notes York
Popular passages
Page 209 - Such as shall be conveyed to it in satisfaction of debts previously contracted in the course of its dealings.
Page 278 - July 14, 1890, are legal tender for all debts, public and private, except where otherwise expressly stipulated in the contract. United States notes or "greenbacks" are legal tender for all debts, public and private, except duties on imports and interest on the public debt.
Page 260 - An Act to provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes.
Page 308 - Any member bank may accept drafts or bills of exchange drawn upon it and growing out of transactions involving the importation or exportation of goods having not more than six months...
Page 461 - Federal reserve bank may discount notes, drafts, and bills of exchange! arising out of actual commercial transactions; that is, notes, drafts, and bills of exchange issued or drawn for agricultural, industrial, or commercial purposes, or the proceeds of which have been used, or are to be used, for such purposes...
Page 209 - But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by the person negotiating the same, shall not be considered as money borrowed.
Page 292 - Upon the indorsement of any of its member banks, which shall be deemed a waiver of demand, notice and protest by such bank as to its own indorsement exclusively, any Federal reserve bank may discount notes, drafts, and bills of exchange! arising out of actual commercial transactions...
Page 247 - There are those who believe that, if you will only legislate to make the well-to-do prosperous, their prosperity will leak through on those below. The Democratic idea, however, has been that if you legislate to make the masses prosperous, their prosperity will find its way up through every class which rests upon them.
Page 209 - No association shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith...
Page 419 - ... shall be exempt from all taxes or duties of the United States, as well as from taxation in any form by or under State, municipal, or local authority...