High Prices And Deflation
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For the Bank of Spain the ratio of the metallic reserve to circulation and deposits in- creased from 46.76 per cent on December 27, 1913, to 62.4 per cent on February 28, 1920.
For the Netherlands Bank there was an in- crease from 52.4 per cent on March 31, 1914, 67 to 55.79 per cent on February 28, 1920. For the National Bank of Switzerland there was a decline from 62.9 per cent on June 11, 1914, to 60.5 per cent on February 23, 1920. The Bank of Norway showed a decline from 39.7 per cent on J...une 15, 1914, to 31.0 per cent on February 23, 1920; and the Bank of Sweden a decline from 36.8 per cent on June 13, 1914, to 31.9 per cent on February 21, 1920. Every one of these neutral countries has experienced a great increase in the volume of metallic re- serve in its national bank, but three out of the five national banks have expanded their bank notes and deposits more than proportionately with a consequent reduction in the percentage of reserve; and one of the other two has not improved its reserve position very much.
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You can find similar books in the "Read Also" column, or choose other free books by Edwin Walter Kemmerer to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
For the Bank of Spain the ratio of the metallic reserve to circulation and deposits in- creased from 46.76 per cent on December 27, 1913, to 62.4 per cent on February 28, 1920.
For the Netherlands Bank there was an in- crease from 52.4 per cent on March 31, 1914, 67 to 55.79 per cent on February 28, 1920. For the National Bank of Switzerland there was a decline from 62.9 per cent on June 11, 1914, to 60.5 per cent on February 23, 1920. The Bank of Norway showed a decline from 39.7 per cent on J...une 15, 1914, to 31.0 per cent on February 23, 1920; and the Bank of Sweden a decline from 36.8 per cent on June 13, 1914, to 31.9 per cent on February 21, 1920. Every one of these neutral countries has experienced a great increase in the volume of metallic re- serve in its national bank, but three out of the five national banks have expanded their bank notes and deposits more than proportionately with a consequent reduction in the percentage of reserve; and one of the other two has not improved its reserve position very much.
What to read after High Prices And Deflation?
You can find similar books in the "Read Also" column, or choose other free books by Edwin Walter Kemmerer to read onlineMoreLess
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