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 4
... things desired - has always resulted in a very general misunderstanding of its real importance and significance . By many people money has almost been regarded as an end in itself , rather than as merely the means to an end ; and by ...
... things desired - has always resulted in a very general misunderstanding of its real importance and significance . By many people money has almost been regarded as an end in itself , rather than as merely the means to an end ; and by ...
Page 5
... things of the same sort , as one workman excelled another . So that in this state of barter there was no scale , or measure , by which the proportion of value which goods had to one another could be ascertained . In a state of barter ...
... things of the same sort , as one workman excelled another . So that in this state of barter there was no scale , or measure , by which the proportion of value which goods had to one another could be ascertained . In a state of barter ...
Page 9
... thing which can be obtained with any goods whatsoever . In the third , its part is that of a thing which can obtain any ... things which are essential to a complete exchange operation . That is , money is serving as a medium of exchange ...
... thing which can be obtained with any goods whatsoever . In the third , its part is that of a thing which can obtain any ... things which are essential to a complete exchange operation . That is , money is serving as a medium of exchange ...
Page 10
... things which will keep indefinitely and which they really want and will later buy back with the very money received from their sale , simply because they consider the money a safer form in which to keep their wealth during the interval ...
... things which will keep indefinitely and which they really want and will later buy back with the very money received from their sale , simply because they consider the money a safer form in which to keep their wealth during the interval ...
Page 13
... things are calculated . As few people have the time or patience to investigate closely the history of prices , they will probably assume that the money in which they make all minor and temporary bargains is also the best standard in ...
... things are calculated . As few people have the time or patience to investigate closely the history of prices , they will probably assume that the money in which they make all minor and temporary bargains is also the best standard in ...
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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...