The book German Imperial Banking Laws was written by author United States. National Monetary Commission Here you can read free online of German Imperial Banking Laws book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is German Imperial Banking Laws a good or bad book?
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(6) Checks and sight bills on London agents, etc., are computed according to the short rate, without interest compensation. 146 Digitized by Google German Imperial Banking Laws (c) Checks and sight bills on secondary cities are com- puted according to the short rate, without interest com- pensation but upon an abatement of i per cent. Short bills (usance, eight days; deliverable in London, from five to fourteen days ; in secondary cities, from eight to fourteen days) are computed according to t...he short rate; if they have from nine to fourteen days to run, inter- est is deducted for the period of from one to six days at the London interest rate; no interest is to be charged for shorter periods. Long bills (usance, ninety days; deliverable, from seventy-five to ninety days) are computed according to the long rate; if they have to run from seventy-five to eighty-nine days, interest for fifteen days receding down to one day is to be added at the rate of from one-half of I per cent to 1% percent below the London interest rate.
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