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Meaning Of Money
THE meaning of Money is not a question of economic theory. The object of this volume is to explain a matter of plain, positive, practical fact, which is very important, very dull and very little understood ; and to do so as clearly as may be, and with the least possible use of the alarming apparatus which generally affrights the casual reader who opens a book on a monetary subject.
Coined Cash
THE most obvious of the forms of cash is the coined currency that we carry in our pockets, consisting of gold, silver, and bronze discs, stamped with the image and superscription of the king, and milled round the edges to prevent enterprising bullionists from shaving metal off their rims.
Paper Cash
THE exchange of a hat for a sovereign is a quite commonplace proceeding, but when we begin toexchange a hat for a piece of paper, which is only accepted because it is believed to be convertible into gold, the element of belief, that is to say of credit, enters into the transaction, and we have moved up a step on the ladder of economic civilization.
Money - Bill Of Exchange
HAVING reviewed the various forms of cash, or money here and now, for which goods and servicesare habitually exchanged, and for which the money market exchanges money some day or moneysomewhere else, we proceed to the bill of exchange, a versatile credit instrument which is often all these three forms of money in the course of its career.
London - The World's Monetary Clearing House
So far money has been dealt with chiefly as a matter of internal experience, and from the point of view of the relations between the Englishman and his banker.
Cheque Paying Banks
WE have now considered the various forms of cash money, and the process of the manufacture of the money, or right to draw a cheque, which is dealt in by lenders and borrowers in the money market.
Money - Bill Brokers And Discount Houses
WE have seen that the main functions in the manufacture of credit and currency are performed by the cheque-paying banks, and we have now to examine the operations of several minor but importantsubsidiaries, which the specializing tendency of civilization has called into being.
Money - Accepting Houses And Foreign Banks
IT ought by this time to be clear, unless the proportion of the perspicuity of this work to its tediousness has been most lamentably inadequate, that what we call money generally means credits with a bank, and that most of these are created either out of loans made by the bank or by some other bank, or by the discounting of a bill, which is only a special form of loan.
Money - The Foreign Exchanges
THE foreign exchanges are really a fairly simple matter if we keep them free, as far as possible, from the technicalities which are the delight of experts in the subject, who generally expound it. They were exemplified in Chapter V by the purchase of a postal order, and they may be described as the mechanism by which money here is exchanged for money somewhere else.
Bank Of England
EVERY schoolboy knows, and most grown-up people have consequently forgotten, that the Bank ofEngland was founded in 1694 to finance William III.'s Government. Since its foundation it has been the keeper of the national balance and the channel through which the nation has conducted its financial operations.
Bank Rate And Market Rate
BANK rate is the official minimum rate at which the Bank of England will discount bills.
The Bank Return
THE account issued every Thursday by the Bank of England, giving a statement of its position, is generally regarded as the key to the condition of the London money market as a whole and is so awaited and examined with keen interest.
Gold Reserve
HAVING thus completed our inspection of the main wheels in the monetary machine, and arrived at anecessarily rough and elementary notion of the manner in which they work together and reactupon one another, we are in a position to consider the problem that has for many years exercised the banking world, namely, the alleged inadequacy of the metallic basis on which the monetarymachine manufactures credit, and the measures necessary for reinforcing it.
Money - Other Reserves
IT has been necessary to lay a good deal of stress on the necessity for an adequate proportion of gold among the assets held by bankers against the credits that they create for their customers, because in times of crisis gold is the only commodity that is of universal acceptance, because it is the essence of the English banking system that all demands are payable immediately in gold...
Meaning Of Money - Summary And Conclusion
AFTER long ramble through rough country, it is perhaps worth while to review and sum up the conclusions arrived at in its course.
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