A Rational Banking System; a Comprehensive Study of the Advantages of the Branch Bank System
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Paul when settling differences with other banks, the Minneapolis and St. Paul offices, even of the purely Western banks, would find in actual practice that it was advantageous for them to carry a large part of their specie and legals in New York City.
The Reserve Against Deposits The Bank of Minnesota, for example, would find that many of its customers on getting loans from it would re- quire to have the proceeds paid to parties in New York.
Also that the depositors, or many of them, in making ...withdrawals would do so through the New York branch.
And all the time there would be trafficking in New York exchange by the banks in the twin cities. For buying and selling sterling and foreign exchange New York would be largely used. Purchases and sales of securities, too, would take place there. So it would be necessary to carry a large balance of specie and legals in the me- tropolis. But the reserve would not, by any means, con- sist entirely of specie and legals. Specie and legals would constitute the first line of defence.
What to read after A Rational Banking System; a Comprehensive Study of the Advantages of the Branch Bank System?
You can find similar books in the "Read Also" column, or choose other free books by Eckardt, H. M. P. (Homer Mark Philip), B. 1869 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Paul when settling differences with other banks, the Minneapolis and St. Paul offices, even of the purely Western banks, would find in actual practice that it was advantageous for them to carry a large part of their specie and legals in New York City.
The Reserve Against Deposits The Bank of Minnesota, for example, would find that many of its customers on getting loans from it would re- quire to have the proceeds paid to parties in New York.
Also that the depositors, or many of them, in making ...withdrawals would do so through the New York branch.
And all the time there would be trafficking in New York exchange by the banks in the twin cities. For buying and selling sterling and foreign exchange New York would be largely used. Purchases and sales of securities, too, would take place there. So it would be necessary to carry a large balance of specie and legals in the me- tropolis. But the reserve would not, by any means, con- sist entirely of specie and legals. Specie and legals would constitute the first line of defence.
What to read after A Rational Banking System; a Comprehensive Study of the Advantages of the Branch Bank System?
You can find similar books in the "Read Also" column, or choose other free books by Eckardt, H. M. P. (Homer Mark Philip), B. 1869 to read onlineMoreLess
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