Political Economy Designed for Use in Catholic Colleges High Schools And Acade
Political Economy Designed for Use in Catholic Colleges High Schools And Acade
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To quickly assess the difficulty of the text, read a short excerpt:
As a matter of fact, some banks do not issue any notes at all, and many that do so take out the INELASTIC CURRENCY 2OI smallest amount of bonds demanded by the law and issue notes to that amount.
At the beginning of the national bank system, bonds were a good investment, as their value was constantly increasing and they paid 5 or 6 per cent interest. The banks readily invested in them and the circulation of notes was large. Later, on the redemption of these bonds, the circulation fell away. It ...in- creased again upon the issue of new bonds. (The new 2 per cent bonds pay a tax of one half of i per cent yearly. The 33 pay a tax of i per cent, as did the old 55 and 6s. ) In the past, many banks drew their circulation down to the minimum required by law, " seeing more profit in selling the bonds at the premium they have commanded than in continuing circulation against them. " (J. B. Forgan, in Practical Problems in Banking and Currency, p. 311. ) While the money circulation is thus rigidly fixed, the factors that create the demand for money are constantly growing or are subject to fluctuations.
What to read after Political Economy Designed for Use in Catholic Colleges High Schools And Acade?
You can find similar books in the "Read Also" column, or choose other free books by Edmund Burke to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
As a matter of fact, some banks do not issue any notes at all, and many that do so take out the INELASTIC CURRENCY 2OI smallest amount of bonds demanded by the law and issue notes to that amount.
At the beginning of the national bank system, bonds were a good investment, as their value was constantly increasing and they paid 5 or 6 per cent interest. The banks readily invested in them and the circulation of notes was large. Later, on the redemption of these bonds, the circulation fell away. It ...in- creased again upon the issue of new bonds. (The new 2 per cent bonds pay a tax of one half of i per cent yearly. The 33 pay a tax of i per cent, as did the old 55 and 6s. ) In the past, many banks drew their circulation down to the minimum required by law, " seeing more profit in selling the bonds at the premium they have commanded than in continuing circulation against them. " (J. B. Forgan, in Practical Problems in Banking and Currency, p. 311. ) While the money circulation is thus rigidly fixed, the factors that create the demand for money are constantly growing or are subject to fluctuations.
What to read after Political Economy Designed for Use in Catholic Colleges High Schools And Acade?
You can find similar books in the "Read Also" column, or choose other free books by Edmund Burke to read onlineMoreLess
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