Elementary Political Economy
Elementary Political Economy
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In our eReader you can find the full English version of the book. Read Elementary Political Economy 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 Elementary Political Economy
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1. A bank of deposit is one in which money is deposited for safe keeping. Very few modern banks, however, confine their business simply to receiving deposits.
2. A bank of discount is one from which money is loaned. Usually these two classes are united.
3. A bank of exchange is one from which drafts, checks, certificates, and bills of exchange are issued to facilitate the transmission of funds.
4. A bank of issue is one from which demand notes are issued and circulated as money.
BANKS. 53 Histo...ry of banks. There were banks in ancient Greece and Rome. Their business corresponded very nearly with that of modern private bankers. They received money on deposit, paying a low rate of interest, and loaned it to other parties at a higher rate. They also issued bills of exchange ; but they did not issue demand notes for circula- tion as money. There was, however, no great banking system like that of the present time.
When civilization was overthrown by hordes of barbarians from the north, the Roman system of finance was destroyed ; and from that time till the twelfth century there were neither banks nor bankers worthy of the name.
What to read after Elementary Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by A B Atwood Bond Meservey to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
1. A bank of deposit is one in which money is deposited for safe keeping. Very few modern banks, however, confine their business simply to receiving deposits.
2. A bank of discount is one from which money is loaned. Usually these two classes are united.
3. A bank of exchange is one from which drafts, checks, certificates, and bills of exchange are issued to facilitate the transmission of funds.
4. A bank of issue is one from which demand notes are issued and circulated as money.
BANKS. 53 Histo...ry of banks. There were banks in ancient Greece and Rome. Their business corresponded very nearly with that of modern private bankers. They received money on deposit, paying a low rate of interest, and loaned it to other parties at a higher rate. They also issued bills of exchange ; but they did not issue demand notes for circula- tion as money. There was, however, no great banking system like that of the present time.
When civilization was overthrown by hordes of barbarians from the north, the Roman system of finance was destroyed ; and from that time till the twelfth century there were neither banks nor bankers worthy of the name.
What to read after Elementary Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by A B Atwood Bond Meservey to read onlineMoreLess
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