PREFACE Higher commercial education has evidently gained a place in American universities from which it may never be displaced; yet he would indeed be a daring champion of the new curriculum who showed any confidence in prophesying just how the present tendency will finally crystallize, or just what its advantages will prove to be. But...
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PREFACE IN this book I have aimed to cover the theory of international and intranational trade, with due consideration of the exchange mechanism of such trade, and with some reference to the effects of government interferences with trade. The larger emphasis, as the title of the book suggests, is on international trade ; but...
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The subject of this work has presented difficulties of a complicated character, from the various phases under which the peculiar defects of individual societies appear. The task has, however, been lightened by the rejection, that, although it cannot be expected that this effort, to place them upon a more rational and secure footing, will...
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PREFACE IN my ” Logic for the Million,” published in the year 1851, I advised my readers, as a means of forming a habit of reasoning, to associate their reasonings with their daily avocations. I afterwards thought I might exemplify my own instructions, by selecting from my writings on Banking such extracts as might...
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PREFACE The man who stands before the counter screen of a bank looks at a piece of complicated yet smooth working machinery that is to him a deep mystery. He admires but does not understand it. He knows that the receiving teller takes his deposit and the paying teller cashes his check. When he...
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Preface THE complexities of modern economic and social life induce study and investigation into causes for chaos as the result of difference between capital and labor, the high cost of living and other such problems. There is no doubt that fundamentally lack of thrift in the average individual ; his lack of co-operation, of...
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FOREWORD Twenty-five years ago today Woodrow Wikon, in the presence of members of his Cabinet, chief executive officers, and leaders of the United States Senate and House of Representatives, approved the Federal Reserve Act. Three solid gold penholders and pens had been prepared for the occasion. Three original copies of this act were printed...
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MONEY is one of those terms which political economists have borrowed from popular speech and found ill-adapted to their purposes. In spite of numerous attempts to make a suitable definition, it still lacks the precision and definiteness of meaning which should characterize scientific terminology. Popular usage is tolerably consistent and clear, but fails to...
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PREFACE BY THE AUTHOR This book has been prepared as a manual of business calculation, for use in connection with the problems which continually arise in the course of business as conducted today. In deciding what subjects to include the authors have been guided throughout by the desire to make the book directly useful in...
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PREFACE by the Author These Lectures were delivered at Waterford, in the beginning of the year 1833. At that time I held the office of Manager of the Waterford branch of the Provincial Bank of Ireland. When residing in London I had assisted at the formation of the City of London Literary and Scientific...
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WHERE TO GO FOR MONEY
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BANKS are commonly thought of as being chiefly engaged in the business of lending money, but as a matter of fact money loans make up a small part of their business. The investments of savings banks are indeed limited to the funds which they have received from depositors, together with such amounts as have...
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PREFACE Teachers of economics and corporation finance have expressed a wish to have a book covering the leading features of corporation finance available for classroom instruction — a book that can be read easily by students during a single semester. A clear purpose and method must be in mind in the preparation and use...
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ABSTRACT Models of asset pricing generally assume that the variables which characterize the state of the economy are observable. For example, the Capital Asset Pricing Model (CAPM) of Sharpe, Lintner and Mossin, Merton’s Intertemporal Asset Pricing Model and Ross’s Arbitrage Pricing Theory establish relations between distributional parameters of the rates of return on assets...
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