Applied Economics; a Practical Exposition of the Science of Business
Applied Economics; a Practical Exposition of the Science of Business
Mavor, James, 1854- [from Old Catalog]
The book Applied Economics; a Practical Exposition of the Science of Business was written by author Mavor, James, 1854- [from Old Catalog] Here you can read free online of Applied Economics; a Practical Exposition of the Science of Business book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Applied Economics; a Practical Exposition of the Science of Business a good or bad book?
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Amer- ican bonds thus fell in value because of the magnitude of the issues in comparison with the limited power of the market to absorb them. After the conclusion of the Civil War, the United States readily rehabilitated the public finances and gradually reduced the Federal debt. The existing debt forms, through a forced loan by the banks, an integral part of the banking and currency system,^ and it is maintained chiefly for this purpose. The rate of interest which is payable upon it — 2 per ce...nt — ^bears no relation to the market rate, nor does the price which the banks have to pay for the security de- pend upon transactions in the open market. The United States government is, indeed, rather in the posi- tion of a lender of money and credit than of a borrower of it. 345. Temporary loans and loans for fiwed periods. — When a government desires to borrow for purposes in which the demand for capital is recurrent, such as when capital is employed for the construction of public build- ings, or for other construction of a more or less durable but not of a permanent character, it is very usual to issue stock bearing a fixed rate of interest and provid- *See "Money and Banking," Vol.
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