Proceedings of the ... Annual Meeting ..
Proceedings of the ... Annual Meeting ..
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I will not enter upon that discussion beyond saying that the evils they specify can be minimized by paying a low rate when there is an abundance of money and a higher rate when it is scarce.
In times of special need of funds in the reserve centres, the increase in the rate paid would tend to draw funds from all points from which they could be spared. I believe that a sliding scale of interest would average up about the same as the rate now paid, and thus neither the reserve city banks nor the o...ut-of-town banks would suffer loss; but the appli- cation of such a method would be of inestimable value to the country at large. It would -result in a much more stable condition of the money market for the whole year — somje- thing which the management of the Bank of France claims confers incalculable benefit upon trade in all its forms.
Digitized by VjOOQIC 148 NATIONAL BOARD OF TRADE.
I will close by reading from three letters bearing on my second recommendation, one from Edward D. Page, of Faulkner, Page & Co., commission merchants, New York : — I have read with a good deal of interest your paper read to the Passaic Board of Trade on June 30th, which you were recently so good as to send me.
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You can find similar books in the "Read Also" column, or choose other free books by National Board of Trade. [from Old Catalog] to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
I will not enter upon that discussion beyond saying that the evils they specify can be minimized by paying a low rate when there is an abundance of money and a higher rate when it is scarce.
In times of special need of funds in the reserve centres, the increase in the rate paid would tend to draw funds from all points from which they could be spared. I believe that a sliding scale of interest would average up about the same as the rate now paid, and thus neither the reserve city banks nor the o...ut-of-town banks would suffer loss; but the appli- cation of such a method would be of inestimable value to the country at large. It would -result in a much more stable condition of the money market for the whole year — somje- thing which the management of the Bank of France claims confers incalculable benefit upon trade in all its forms.
Digitized by VjOOQIC 148 NATIONAL BOARD OF TRADE.
I will close by reading from three letters bearing on my second recommendation, one from Edward D. Page, of Faulkner, Page & Co., commission merchants, New York : — I have read with a good deal of interest your paper read to the Passaic Board of Trade on June 30th, which you were recently so good as to send me.
What to read after Proceedings of the ... Annual Meeting ..?
You can find similar books in the "Read Also" column, or choose other free books by National Board of Trade. [from Old Catalog] to read onlineMoreLess
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