Inside Life in Wall Street Or How Great Fortunes Are Lost Won
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In our eReader you can find the full English version of the book. Read Inside Life in Wall Street Or How Great Fortunes Are Lost Won 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 Inside Life in Wall Street Or How Great Fortunes Are Lost Won
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To quickly assess the difficulty of the text, read a short excerpt:
Gold had broken to 87, and then, on the news of the repulse at Fayetteville, North Carolina, ran up to 194. That news came one morning at the Exchange, and I sold $5, 000, on the pledge of my now modest margin of $500.
It has been already stated in these pages, that the amount of gold and silver in the United States, in 1863, was estimated at $250, 000, 000. But the amount floating about, outside of the banks, the sub- 436 INSIDE LIFE IN WALL STREET.
treasury, and the private hoardings, was com...paratively small, and grew still smaller in the summer of 1864.
In February, 1865, immense sums in gold coin, which had been locked up, were suddenly brought out and thrown on the market, in view of the speedy termination of the war. Some of the New York banks sold all the gold they held. The merchants, also, wishing to hedge against the prospective loss on the large amounts of imported goods they held, and which they had paid for when gold was high, now borrowed large sums in coin from the banks, and sold it, expecting to repay it by buying gold at a much lower price, within sixty days.
What to read after Inside Life in Wall Street Or How Great Fortunes Are Lost Won?
You can find similar books in the "Read Also" column, or choose other free books by Fowler William Worthington to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Gold had broken to 87, and then, on the news of the repulse at Fayetteville, North Carolina, ran up to 194. That news came one morning at the Exchange, and I sold $5, 000, on the pledge of my now modest margin of $500.
It has been already stated in these pages, that the amount of gold and silver in the United States, in 1863, was estimated at $250, 000, 000. But the amount floating about, outside of the banks, the sub- 436 INSIDE LIFE IN WALL STREET.
treasury, and the private hoardings, was com...paratively small, and grew still smaller in the summer of 1864.
In February, 1865, immense sums in gold coin, which had been locked up, were suddenly brought out and thrown on the market, in view of the speedy termination of the war. Some of the New York banks sold all the gold they held. The merchants, also, wishing to hedge against the prospective loss on the large amounts of imported goods they held, and which they had paid for when gold was high, now borrowed large sums in coin from the banks, and sold it, expecting to repay it by buying gold at a much lower price, within sixty days.
What to read after Inside Life in Wall Street Or How Great Fortunes Are Lost Won?
You can find similar books in the "Read Also" column, or choose other free books by Fowler William Worthington to read onlineMoreLess
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