Relation of Money to Bank Credits Address of General a J Warner Before the F
Relation of Money to Bank Credits Address of General a J Warner Before the F
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What was it in England with unlimited issues of bank notes? And how does the modern system of bank credits differ in effect from the old " wild cat" and " red dog" currency of the first half of the century ? There never was, how- ever, such rapid and reckless expansion and contraction of notes under the old note system as there has been in recent years in the creation and collapse of bank-credit currency.
When the Russian Government withdrew $30, 000, 000 from deposit in England it created such... a vacuum in the reserves of banks as to threaten the whole credit structure of the Kingdom. It was the old story: " A joint stock bubble mania, with all its rogueries; then collapse and commercial ruin. " Gentlemen, it is right here in this insubstantial structure of credit money, created out of nothing confidence money that every panic ever known has had its origin. McLeod says: The inability of credit shops to extinguish the credit they have created com- monly called the failure of banks is the cause of the most terrible social calamities of modern times.
What to read after Relation of Money to Bank Credits Address of General a J Warner Before the F?
You can find similar books in the "Read Also" column, or choose other free books by Adoniram Judson Warner to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
What was it in England with unlimited issues of bank notes? And how does the modern system of bank credits differ in effect from the old " wild cat" and " red dog" currency of the first half of the century ? There never was, how- ever, such rapid and reckless expansion and contraction of notes under the old note system as there has been in recent years in the creation and collapse of bank-credit currency.
When the Russian Government withdrew $30, 000, 000 from deposit in England it created such... a vacuum in the reserves of banks as to threaten the whole credit structure of the Kingdom. It was the old story: " A joint stock bubble mania, with all its rogueries; then collapse and commercial ruin. " Gentlemen, it is right here in this insubstantial structure of credit money, created out of nothing confidence money that every panic ever known has had its origin. McLeod says: The inability of credit shops to extinguish the credit they have created com- monly called the failure of banks is the cause of the most terrible social calamities of modern times.
What to read after Relation of Money to Bank Credits Address of General a J Warner Before the F?
You can find similar books in the "Read Also" column, or choose other free books by Adoniram Judson Warner to read onlineMoreLess
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