Cash And Credit
Cash And Credit
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In our eReader you can find the full English version of the book. Read Cash And Credit Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Cash And Credit
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It has become the custom, therefore, for persons who wish to discount bills to pay a small commission in order to induce some firm of very high reputation to accept the bill, and so to enable them to discount it at a lower rate. Or the same effect may be obtained by paying some such firm to "indorse" the bill after it has been already accepted. The effect of the indorsement is that in the event of the acceptor failing to pay when the bill falls due, the indorsing firm will have to pay instead. ...The firms who thus trade upon their good name by accepting and indorsing bills are known as "accepting houses. " They are the outposts of our 54 CASH AND CREDIT system of credit, for it is, to a great extent, the accepting houses which have to decide to whom and how far credit is to be given. Within reasonable limits a banker will discount any bill accepted by a reputable accepting house, and therefore in the case of loans attempted to be raised by means of dis- counting bills, it is in effect the accepting house and not the banker who decides whether the loan shall be granted or not.
What to read after Cash And Credit?
You can find similar books in the "Read Also" column, or choose other free books by D a Dalgairns Arundel Barker to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
It has become the custom, therefore, for persons who wish to discount bills to pay a small commission in order to induce some firm of very high reputation to accept the bill, and so to enable them to discount it at a lower rate. Or the same effect may be obtained by paying some such firm to "indorse" the bill after it has been already accepted. The effect of the indorsement is that in the event of the acceptor failing to pay when the bill falls due, the indorsing firm will have to pay instead. ...The firms who thus trade upon their good name by accepting and indorsing bills are known as "accepting houses. " They are the outposts of our 54 CASH AND CREDIT system of credit, for it is, to a great extent, the accepting houses which have to decide to whom and how far credit is to be given. Within reasonable limits a banker will discount any bill accepted by a reputable accepting house, and therefore in the case of loans attempted to be raised by means of dis- counting bills, it is in effect the accepting house and not the banker who decides whether the loan shall be granted or not.
What to read after Cash And Credit?
You can find similar books in the "Read Also" column, or choose other free books by D a Dalgairns Arundel Barker to read onlineMoreLess
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