First Lessons in Finance (School Edition of Funds And Their Uses)
First Lessons in Finance (School Edition of Funds And Their Uses)
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By providing a method for the safe- keeping of funds, (1) it reduces the amount of money that would go into hoards, and thereby reduces the demand on the Government; (2) it indirectly sets up a chain of re- demption through the Treasury. The savings-bank also has an important relation with the fiscal side of the Treas- ury. When an issue of bonds is offered for sale, these institutions are among the largest purchasers. They there- fore facilitate the funding process of the Government. In 1899 t...he savings-banks had investments amounting to $137,000,000 in United States bonds. The total deposits of that year were $2,179,468,299. Their income amounted to over $5,000,000 per month, while cash on hand averaged about $100,000,000. These banks are therefore, under ordinary circumstances, in a position to absorb a large issue of public securities.
Digitized by Google THD SAVINGS-BANK 227 The business relations of the savings institution to the- commercial bank are largely represented by its " deposits " in those banks.
What to read after First Lessons in Finance (School Edition of Funds And Their Uses)?
You can find similar books in the "Read Also" column, or choose other free books by Cleveland, Frederick Albert, 1865-1946 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
By providing a method for the safe- keeping of funds, (1) it reduces the amount of money that would go into hoards, and thereby reduces the demand on the Government; (2) it indirectly sets up a chain of re- demption through the Treasury. The savings-bank also has an important relation with the fiscal side of the Treas- ury. When an issue of bonds is offered for sale, these institutions are among the largest purchasers. They there- fore facilitate the funding process of the Government. In 1899 t...he savings-banks had investments amounting to $137,000,000 in United States bonds. The total deposits of that year were $2,179,468,299. Their income amounted to over $5,000,000 per month, while cash on hand averaged about $100,000,000. These banks are therefore, under ordinary circumstances, in a position to absorb a large issue of public securities.
Digitized by Google THD SAVINGS-BANK 227 The business relations of the savings institution to the- commercial bank are largely represented by its " deposits " in those banks.
What to read after First Lessons in Finance (School Edition of Funds And Their Uses)?
You can find similar books in the "Read Also" column, or choose other free books by Cleveland, Frederick Albert, 1865-1946 to read onlineMoreLess
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