The War And Finance How to Save the Situtation

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The War And Finance How to Save the Situtation
Raymond Radclyffe
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But the bill business requires constant attention and some capacity. Therefore many bankers neglect it. If the Joint Stock Banks had 30 per cent, of their money invested in bills they would be much sounder to-day. If the Birkbeck Bank had invested its huge funds in bill discounting it would never have collapsed.
I have said that the curse of our banks is the rigidity of their rules, which leads to indolence and brain atrophy. None of our banks have any system of information bureaus. In every fo
...reign bank can be found a complete dossier of every limited company in the world, and attached to this dossier are the expert opinions of various people upon the enterprise. Foreign bankers spend money freely in acquiring information. They send capable people all over the world who are continually studying the financial position. They check these experts by other experts. They try to arrive at an accurate judgment. As a result of this efficiency THE BANKS 85 the great French and German banks have captured a large trade which English banks once had and should have to-day.

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