The Currency Problem And the Present Financial Situation; a Series of Addresses Delivered At Columbia University, 1907-1908
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In our eReader you can find the full English version of the book. Read The Currency Problem And the Present Financial Situation; a Series of Addresses Delivered At Columbia University, 1907-1908 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 Currency Problem And the Present Financial Situation; a Series of Addresses Delivered At Columbia University, 1907-1908
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To quickly assess the difficulty of the text, read a short excerpt:
Hence the interest charged against certain banks must exactly equal and offset that credited to certain other banks.
The aim is to fix the rate sufficiently high to insure the retirement of the certificates as soon as the emergency which called them forth has passed by. As a rule they are retired by the banks which take them out as soon 110 THE CURRENCY PROBLEM as they have obtained sufficient cash to meet their daily obligations. Notice is given by the debtor banks to the committee calling for... such certificates as they wish to retire, and the committee gives notice to the banks holding the same, stating that the interest will cease after a specified date. In due course, the holders send the certificates through the Clearing House for redemption.
Upon the retirement of the certificates, the collateral deposited as security is surrendered by the committee in the same proportion to certificates surrendered as was required for deposit.
The first issue of Clearing House loan certificates was made in 1860, and the last is still outstanding.
What to read after The Currency Problem And the Present Financial Situation; a Series of Addresses Delivered At Columbia University, 1907-1908?
You can find similar books in the "Read Also" column, or choose other free books by A Barton Alonzo Barton Hepburn to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Hence the interest charged against certain banks must exactly equal and offset that credited to certain other banks.
The aim is to fix the rate sufficiently high to insure the retirement of the certificates as soon as the emergency which called them forth has passed by. As a rule they are retired by the banks which take them out as soon 110 THE CURRENCY PROBLEM as they have obtained sufficient cash to meet their daily obligations. Notice is given by the debtor banks to the committee calling for... such certificates as they wish to retire, and the committee gives notice to the banks holding the same, stating that the interest will cease after a specified date. In due course, the holders send the certificates through the Clearing House for redemption.
Upon the retirement of the certificates, the collateral deposited as security is surrendered by the committee in the same proportion to certificates surrendered as was required for deposit.
The first issue of Clearing House loan certificates was made in 1860, and the last is still outstanding.
What to read after The Currency Problem And the Present Financial Situation; a Series of Addresses Delivered At Columbia University, 1907-1908?
You can find similar books in the "Read Also" column, or choose other free books by A Barton Alonzo Barton Hepburn to read onlineMoreLess
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