The Struggle for Bread a Reply to the Great Illusion And Enquiry Into Economi
The Struggle for Bread a Reply to the Great Illusion And Enquiry Into Economi
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In our eReader you can find the full English version of the book. Read The Struggle for Bread a Reply to the Great Illusion And Enquiry Into Economi 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 Struggle for Bread a Reply to the Great Illusion And Enquiry Into Economi
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It was obviously very dangerous for people to travel with large sums of money ; accordingly it became the custom for merchants travelling from one large city to another to purchase letters of credit upon some prominent merchant of the city to which they were travelling. These letters, when they arrived, they presented to the merchant upon whom they were drawn, who at once paid them in cash. Now the merchants who gave out these letters of credit were generally goldsmiths and because of 8 THE STR...UGGLE FOR BREAD the strong safes in which they guarded their precious wares their neighbours who were less secure against thieves brought them their treasure to mind, and from these dual causes, the safes of goldsmiths and the letters of credit, there grew up the system of banks and banking. It was like this, the goldsmiths being known to their fellow- citizens and to the trading community at large as honourable and wealthy men who were both able and willing to redeem their obligations, letters of credit drawn upon them came to be accepted just as readily as money, nobody cared about the risks of having a large stock of money on his own premises, and thus so long as he had sufficient for everyday use the average merchant preferred, as we have seen, to deposit his superfluous treasure in the strong vaults of the goldsmiths.
What to read after The Struggle for Bread a Reply to the Great Illusion And Enquiry Into Economi?
You can find similar books in the "Read Also" column, or choose other free books by Victor Wallace Germains to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
It was obviously very dangerous for people to travel with large sums of money ; accordingly it became the custom for merchants travelling from one large city to another to purchase letters of credit upon some prominent merchant of the city to which they were travelling. These letters, when they arrived, they presented to the merchant upon whom they were drawn, who at once paid them in cash. Now the merchants who gave out these letters of credit were generally goldsmiths and because of 8 THE STR...UGGLE FOR BREAD the strong safes in which they guarded their precious wares their neighbours who were less secure against thieves brought them their treasure to mind, and from these dual causes, the safes of goldsmiths and the letters of credit, there grew up the system of banks and banking. It was like this, the goldsmiths being known to their fellow- citizens and to the trading community at large as honourable and wealthy men who were both able and willing to redeem their obligations, letters of credit drawn upon them came to be accepted just as readily as money, nobody cared about the risks of having a large stock of money on his own premises, and thus so long as he had sufficient for everyday use the average merchant preferred, as we have seen, to deposit his superfluous treasure in the strong vaults of the goldsmiths.
What to read after The Struggle for Bread a Reply to the Great Illusion And Enquiry Into Economi?
You can find similar books in the "Read Also" column, or choose other free books by Victor Wallace Germains to read onlineMoreLess
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