INTRODUCTION The results I have reached by my observations and inquiries made, and from the study of the material placed before me, cannot, in consequence of the inadequateness of this material, lay claim to being fully scientific, but the present investigation may so far claim a scientific character, that I have endeavored by its means...
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THE PROBLEM For many years the country has suffered from recurring periods of severe financial stringency. During these periods interest rates have been excessively high, and business men have lost heavily through inability to obtain necessary loans and discounts from the banks. At times wide-spread panic and general suspension of payments by the banks...
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IN examining a piece of complex and delicate mechanism, suppose it to be the highest triumph of modern genius, the chronometer with the Arnold escapement, the first thing that impresses the eye is the exquisite finish and beauty of the workmanship, and the wonderful regularity and smoothness of the movement ; while the conviction...
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PREFACE. The object of these chapters, some of which were published in the “Financial Review of Reviews” during the autumn of 1910, is to present a study of the art of investment upon its industrial, rather than its financial, side, that is to say, to consider it in relation to the productive energy it...
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We should be apt to imagine, that, if any doctrine were thoroughly settled among mankind, it would be that respecting the production of wealth by the various classes. As circulators, men of every class have been, in all ages, employed in the pursuit of it, as the source of income, or the means of...
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ONE HUNDRED YEARS OF AMERICAN COMMERCE CONSISTING OF ONE HUNDRED ORIGINAL ARTICLES ON COMMERCIAL TOPICS DESCRIBING THE PRACTICAL DEVELOPMENT OF THE VARIOUS BRANCHES OF TRADE IN THE UNITED STATES WITHIN THE PAST CENTURY AND SHOWING THE PRESENT MAGNITUDE OF OUR FINANCIAL AND COMMERCIAL INSTITUTIONS WITH A CHRONOLOGICAL TABLE OF THE IMPORTANT EVENTS OF AMERICAN...
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PREFACE BY THE AUTHOR In the year 1860 Northumberland became the county of my adoption, and very soon after my settlement I was impressed with the wide and varied field that it offered for antiquarian research. I grew deeply interested in the past records of the county, and became personally acquainted with many present day...
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PREFACE BY THE AUTHOR THE first part of this book has been written mainly for English readers ; the seven chapters that follow mainly for Indians. These chapters were contributed in the first instance in the form of special articles to leading newspapers and reviews in India, and are now reproduced in book form at...
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Contents, Abbreviations & Notes on Contributors 1 Introduction Jan Joost Teunissen 2 Global Imbalances and the Implications for Africa Louis Kasekende 3 East Asia’s Role in Resolving the New Global Imbalances Masaru Yoshitomi, Li-Gang Liu and Willem Thorbecke 4 An African Perspective: Comments on Yoshitomi, Liu and Thorbecke Brian Kahn 5 Rebalancing Savings-Investment Gaps in East Asia Yonghyup...
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INTRODUCTION Every man in the community has now the same liberty to make and issue money, that he has to buy, sell, walk, run, lift, or do a dozen other things, — no law hindering him. The only restriction is, that his money shall not be made in imitation of that made by any...
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PREFACE BY THE AUTHOR WITH the present collection the publication of Sumner’s Essays comes to an end. The original project of publishers and editor contemplated but a single volume — ” War and Other Essays ” — and they accordingly equipped that volume with a bibliography which was as complete as they then could, make...
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INTRODUCTION. POLITICAL ECONOMY is the science which treats of general or national wealth, general or aggregate as distinguished from individual, as the term Political implies. This science is directed chiefly against, or has reference to the errors of statesmen or legislators, as connected with trade or the industry of mankind ; and, however extensive,...
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INTRODUCTION With the possible exception of the tariff, no one question has so repeatedly confronted the American people as has the problem of establishing a satisfactory system of currency and banking. It has seemed unusually difficult to devise a plan that contains the fundamental requisites of safety, uniformity, and practicability. The proposal to regulate our...
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The purpose of this booklet is to describe the basic process of money creation in a “fractional reserve” banking system. The approach taken illustrates the changes in bank balance sheets that occur when deposits in banks change as a result of monetary action by the Federal Reserve System – the central bank of the...
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Federal Reserve Bank of New York Presents a fable about the island kingdom of Mazuma and the growth of its economy from barter to a sophisticated modern system, with its own central bank, to illustrate basic concepts of barter, money, banking, and inflation. Please Activate the Full Screen Mode for Better Viewing Pleasure (2nd button...
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