The Economic And Financial Situation of Albania
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In our eReader you can find the full English version of the book. Read The Economic And Financial Situation of Albania 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 Economic And Financial Situation of Albania
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Albania had the good fortune to come into the world with a sound currency. Conscious of this advantage, she must, whatever financial difficulties she may yet have to overcome, safeguard it as being of the utmost economic value.
To this end, the notes should be covered partly by gold (30 to 40 % of the issue), and for the rest by short-term credits. As bills of exchange are at present unknown in Albania, it will be necessary, owing to lack of discountable assets, to introduce something similar t...o cover the surplus, at any rate for a time.
If the Bank is endowed with the privilege of issuing notes, it will not be able to devote itself to long-term credit operations incompatible with the character of a bank of issue, unless the issue department is constituted as a watertight compartment with its own assets and liabilities. Another solution of the problem would be to create a commercial bank besides the Bank of Issue.
VIII. Public Finances.
Debts. — Unlike so many of the new States which were created at the end of the World War, and unlike the old European States with a history of a thousand years behind them, Albania has the great advantage of having no external debt, and, one might almost say, no national debt.
What to read after The Economic And Financial Situation of Albania?
You can find similar books in the "Read Also" column, or choose other free books by Albert Calmes to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Albania had the good fortune to come into the world with a sound currency. Conscious of this advantage, she must, whatever financial difficulties she may yet have to overcome, safeguard it as being of the utmost economic value.
To this end, the notes should be covered partly by gold (30 to 40 % of the issue), and for the rest by short-term credits. As bills of exchange are at present unknown in Albania, it will be necessary, owing to lack of discountable assets, to introduce something similar t...o cover the surplus, at any rate for a time.
If the Bank is endowed with the privilege of issuing notes, it will not be able to devote itself to long-term credit operations incompatible with the character of a bank of issue, unless the issue department is constituted as a watertight compartment with its own assets and liabilities. Another solution of the problem would be to create a commercial bank besides the Bank of Issue.
VIII. Public Finances.
Debts. — Unlike so many of the new States which were created at the end of the World War, and unlike the old European States with a history of a thousand years behind them, Albania has the great advantage of having no external debt, and, one might almost say, no national debt.
What to read after The Economic And Financial Situation of Albania?
You can find similar books in the "Read Also" column, or choose other free books by Albert Calmes to read onlineMoreLess
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