The Collapse of Capitalism
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In our eReader you can find the full English version of the book. Read The Collapse of Capitalism 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 The Collapse of Capitalism
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The banks' capitalization (which is 52 THE COLLAPSE OF CAPITALISM very far from being identical with capital paid in, one bank in New York, for in- stance, having distributed a stock divi- dend of 1900 per cent at one swoop) and their surplus accumulated from profit ; 2. A certain part of the deposits, less the extent to which they may be covered by cash in the possession of the banks. All of this cash came from the depositors and is subject to their call.
It is already apparent that the banks ...are the social monetary agents who are debt- ors and creditors for equal amounts. They are debtors to their stockholders and de- positors, and creditors of the borrowers. But it is their relation to their depositors which, as we shall see, is by far the most important and, indeed, constitutes the most immediate menace to the life of capi- talism.
How did this relation arise and how is it that it grows in importance all the time, as evidenced by the growing deposits?
These daily deposits consist now, as they have for a number of years of about 94 per cent checks and 6 per cent current money.
What to read after The Collapse of Capitalism?
You can find similar books in the "Read Also" column, or choose other free books by Herman Cahn to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The banks' capitalization (which is 52 THE COLLAPSE OF CAPITALISM very far from being identical with capital paid in, one bank in New York, for in- stance, having distributed a stock divi- dend of 1900 per cent at one swoop) and their surplus accumulated from profit ; 2. A certain part of the deposits, less the extent to which they may be covered by cash in the possession of the banks. All of this cash came from the depositors and is subject to their call.
It is already apparent that the banks ...are the social monetary agents who are debt- ors and creditors for equal amounts. They are debtors to their stockholders and de- positors, and creditors of the borrowers. But it is their relation to their depositors which, as we shall see, is by far the most important and, indeed, constitutes the most immediate menace to the life of capi- talism.
How did this relation arise and how is it that it grows in importance all the time, as evidenced by the growing deposits?
These daily deposits consist now, as they have for a number of years of about 94 per cent checks and 6 per cent current money.
What to read after The Collapse of Capitalism?
You can find similar books in the "Read Also" column, or choose other free books by Herman Cahn to read onlineMoreLess
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