Money

Paperback | January 1, 2012

byJames Platt

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Book may have numerous typos, missing text, images, or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1889. Excerpt: ... does. Every branch of trade is liable to fluctuations, from an alteration in the proportions between the demand and the supply, and hence capital is continually undergoing a transfer from the production of those articles for which there is a less demand to the production of those articles for which there is a greater demand. So we hear from political economists of an average rate of profit in all trades, because by a natural law capital flows from or ceases to be supplied to those branches of trade where it is not remunerative, and finds its way to those other branches where it is wanted. Banking helps this natural law. A manufacturer does not leave his employment, or transfer his capital, but the manufacturer in the declining trade reduces his capital, while the manufacturer in the prosperous trade will augment his capital, and the transfer of capital from one trade to the other is effected chiefly by bills of exchange. For example, the manufacturer who is selling a less quantity of commodities will have fewer bills to discount with his banker, but the other manufacturer who is buying and selling a greater quantity of commodities will have more bills for discount. You will perceive that the banker who uses the bulk of his capital in the discount of commercial bills thus easily transfers from one branch of commerce to another money or capital in exact proportion to the circumstances of the respective parties. BANK SHARES. Banking is essential to our prosperity; it is therefore imperative upon us, as a " practical people," to make the investing in "bank shares" less risky than it is. The large profits to the original shareholders of the leading joint-stock banks may justify incurring the liability as a speculative investment; but in considering this question we have to remember that ...

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Book may have numerous typos, missing text, images, or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1889. Excerpt: ... does. Every branch of trade is liable to fluctuations, from an alteration in the proportions between the demand and the supply, and hence capital is conti...

Format:PaperbackDimensions:78 pages, 9.69 × 7.44 × 0.16 inPublished:January 1, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217318428

ISBN - 13:9780217318426

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