Readings in Money And Banking, Selected And Adapted
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To quickly assess the difficulty of the text, read a short excerpt:
O. What does the bank rate mean; what does it govern in fact?
A. It means the general charge to the trade of the country, because although we say that bills in the market are discounted at a lower rate than bank rate, yet there is a vast number of trade bills which are purely governed by the bank rate.
470 THE ENGLISH BANKING SYSTEM Q. We found both in Germany and in France the question of the amount of reserves, either in specie or in bank, was re- garded as of little importance by the bankers.... They depend on the Reichsbank and the Bank of France for rediscount in times of need.
A. Both in France and in Germany banks are much more dependent on the central institution than we are here. They lean on their central institution to a very great extent; for instance, the rediscounting of bills and borrowing from the central institution is, I believe, quite a usual occurrence.
Here it is an occurrence which would only take place in the last resort. As far as I am aware this bank has never as long as it has been in existence had one penny from the Bank of England, whether by way of advance or by way of a dis- counted bill.
What to read after Readings in Money And Banking, Selected And Adapted?
You can find similar books in the "Read Also" column, or choose other free books by Chester Arthur Phillips to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
O. What does the bank rate mean; what does it govern in fact?
A. It means the general charge to the trade of the country, because although we say that bills in the market are discounted at a lower rate than bank rate, yet there is a vast number of trade bills which are purely governed by the bank rate.
470 THE ENGLISH BANKING SYSTEM Q. We found both in Germany and in France the question of the amount of reserves, either in specie or in bank, was re- garded as of little importance by the bankers.... They depend on the Reichsbank and the Bank of France for rediscount in times of need.
A. Both in France and in Germany banks are much more dependent on the central institution than we are here. They lean on their central institution to a very great extent; for instance, the rediscounting of bills and borrowing from the central institution is, I believe, quite a usual occurrence.
Here it is an occurrence which would only take place in the last resort. As far as I am aware this bank has never as long as it has been in existence had one penny from the Bank of England, whether by way of advance or by way of a dis- counted bill.
What to read after Readings in Money And Banking, Selected And Adapted?
You can find similar books in the "Read Also" column, or choose other free books by Chester Arthur Phillips to read onlineMoreLess
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