This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 Excerpt: ..." Government Deposits," apart again from disturbing influences, mount up pari passu with Government securities. When the Bank of England makes loans, its customers naturally draw against those loans, but the money so drawn out returns immediately, because the cheques are paid into banks by those who receive them, and ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 Excerpt: ..." Government Deposits," apart again from disturbing influences, mount up pari passu with Government securities. When the Bank of England makes loans, its customers naturally draw against those loans, but the money so drawn out returns immediately, because the cheques are paid into banks by those who receive them, and quickly appear to the credit of other accounts in the Bank of England's ledgers, thus illustrating the supreme position the Bank of England occupies in the money market. We have referred to the circumstances in which the short loan fund may be increased, and it may be well, therefore, to consider how a decrease is effected. How a Decrease Results. A decrease, like an increase, is brought about by internal and external market conditions that affect the regular and irregular ebb and flow of gold. It is at least questionable in these times whether any outflow of gold can be termed regular; but in the pre-war times there was always a periodic withdrawal of gold towards the end of each quarter--the Scotch drain at term time in May and November, the harvest drain and the holiday drain for England are illustrative of this. Frequently these withdrawals of gold took place at a time when other calls upon the banks were heavy and, as the amount required had in most cases to be withdrawn from the short loan fund by the London bankers upon whom the demand for gold fell, it served to accentuate the stringency. Such movements were, however, well known, and allowance was made by the bankers for them in estimating market resources. Nowadays, when so much of our currency has given place to paper, the movements are not so noticeable, but the influence is still there all the same, though probably to a less extent. Foreign Movements of Gold. However, it i...
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Add this copy of The London Money Market: A Practical Guide to What It to cart. $18.00, new condition, Sold by Ingram Customer Returns Center rated 5.0 out of 5 stars, ships from NV, USA, published 2022 by Legare Street Press.
Add this copy of The London Money Market; : a Practical Guide to What It to cart. $23.83, fair condition, Sold by Wonder Book - Member ABAA/ILAB rated 5.0 out of 5 stars, ships from Frederick, MD, UNITED STATES.
Add this copy of The London Money Market: A Practical Guide to What It to cart. $28.30, new condition, Sold by Ingram Customer Returns Center rated 5.0 out of 5 stars, ships from NV, USA, published 2022 by Legare Street Press.
