Publisher's Synopsis
Excerpt from Bankers and Credit
Bankers as Statesmen - Statesmen as Chaotic Bankers - Extent of Currency Debasement Money, Market made an Instrument of War - Consequent Problems - Our Pre-war System - Based on Gold - Free Convertibility - Thus Money could only be Increased by Imports of Gold - the Importance of this Limitation - Proved by the Efiect of its Removal during the War - The Gold Standard and Foreign Trade - All the Chief Countries used, in Efiect, the same Money - Harmony in Price Levels Stability in Rates of Exchange - The Elasticity of the Pre - war System - A Bank Balance Sheet - The Banks as Creators of Credit - The Bank of England's Return - Bank of England Creates Credit which is Regarded as Cash - The System's Working.
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