Bank Credit a Study of the Principles And Factors Underlying Advances Made By B
Bank Credit a Study of the Principles And Factors Underlying Advances Made By B
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An exhaustive discussion of this aspect of our subject, which would be in itself a fit topic for a volume, must gi\^e way to an account of only the main modifications and devel- opments in the form of our banking paper.
123 124 BANK CREDIT One of the outstanding features of our banking practice during the last half century or more is the change of emphasis placed on the personal standing of the borrower. Fifty or sixty years ago single name paper was scarcely known. Banks refused to make advanc...es on the security afforded by the borrower's signature alone and insisted upon one or more endors- ers. The banker who loaned on single name paper mthout additional security was regarded as the re- verse of conservative, if not positively reckless. In the country districts, where borrowed money was in- vested largely in fixed property and where the money was loaned on endorsed accommodation paper more extensively than in the large centers, borrowers some- times became so involved as endorsers for one another that there resulted a situation, which, when pressure was brought to bear for payment, resembled a row of bricks standing on end so that if one were knocked down, it would fall on another until all were bowled over.^ The use of endorsed paper led to endorsing for ac- commodation.
What to read after Bank Credit a Study of the Principles And Factors Underlying Advances Made By B?
You can find similar books in the "Read Also" column, or choose other free books by Chester Arthur Phillips to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
An exhaustive discussion of this aspect of our subject, which would be in itself a fit topic for a volume, must gi\^e way to an account of only the main modifications and devel- opments in the form of our banking paper.
123 124 BANK CREDIT One of the outstanding features of our banking practice during the last half century or more is the change of emphasis placed on the personal standing of the borrower. Fifty or sixty years ago single name paper was scarcely known. Banks refused to make advanc...es on the security afforded by the borrower's signature alone and insisted upon one or more endors- ers. The banker who loaned on single name paper mthout additional security was regarded as the re- verse of conservative, if not positively reckless. In the country districts, where borrowed money was in- vested largely in fixed property and where the money was loaned on endorsed accommodation paper more extensively than in the large centers, borrowers some- times became so involved as endorsers for one another that there resulted a situation, which, when pressure was brought to bear for payment, resembled a row of bricks standing on end so that if one were knocked down, it would fall on another until all were bowled over.^ The use of endorsed paper led to endorsing for ac- commodation.
What to read after Bank Credit a Study of the Principles And Factors Underlying Advances Made By B?
You can find similar books in the "Read Also" column, or choose other free books by Chester Arthur Phillips to read onlineMoreLess
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