Money And Foreign Exchange After 1914
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If anyone considers this argument to be too far-fetched, at any rate the unprecedented losses which the Riksbank itself has suffered on its foreign currencies wUl no doubt offer a striking proof that the practical judgment shown by the management of the Riksbank was no more highly developed than its theoretical insight. Amongst the items of expenditure incurred by the Riksbank may be found an item " expenditure on foreign business and depreciation on foreign currencies." Under this heading the ...following amounts are written off : 1918 13-3 million kroner.
1919 15-8 1920 45-4 1921 12-9 Total 87-4 Besides this there appears on the account for 1920 " Depreciation on bonds, etc.," a charge of 10' 5 milMon kronor. I was therefore not altogether unjustified in my demand when on the 2nd October, 1916, I asked for 136 MONEY AFTER 1914 an immediate inventory to be made of the Riksbank's assets, and it may be safely said that it would have been to the great advantage both of the country and of the Riksbank itself if the serious warnings uttered by me on the question of the Riksbank 's foreign currency holdings had induced ParUament to enter upon a pubUc examination of the situation.
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You can find similar books in the "Read Also" column, or choose other free books by Gustav Cassel to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
If anyone considers this argument to be too far-fetched, at any rate the unprecedented losses which the Riksbank itself has suffered on its foreign currencies wUl no doubt offer a striking proof that the practical judgment shown by the management of the Riksbank was no more highly developed than its theoretical insight. Amongst the items of expenditure incurred by the Riksbank may be found an item " expenditure on foreign business and depreciation on foreign currencies." Under this heading the ...following amounts are written off : 1918 13-3 million kroner.
1919 15-8 1920 45-4 1921 12-9 Total 87-4 Besides this there appears on the account for 1920 " Depreciation on bonds, etc.," a charge of 10' 5 milMon kronor. I was therefore not altogether unjustified in my demand when on the 2nd October, 1916, I asked for 136 MONEY AFTER 1914 an immediate inventory to be made of the Riksbank's assets, and it may be safely said that it would have been to the great advantage both of the country and of the Riksbank itself if the serious warnings uttered by me on the question of the Riksbank 's foreign currency holdings had induced ParUament to enter upon a pubUc examination of the situation.
What to read after Money And Foreign Exchange After 1914?
You can find similar books in the "Read Also" column, or choose other free books by Gustav Cassel to read onlineMoreLess
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