Pending Banking Legislation
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| Hersteller: | Forgotten Books (Author, Unknown) |
| Stand: | 2015-08-04 03:50:33 |
Produktbeschreibung
Excerpt from Pending Banking Legislation: Letters by Officers of the National City Bank of New York to the Banking and Currency Committees of the Congress of the United States, Also Copy of the Bill as Introduced June 26, 1913 Sir: Students of our banking situation are, I believe, in substantial agreement upon the main principles that should govern sound financial legislation. Briefly stated, the objects aimed at should be, (a) The mobilization of bank reserves. (b), The retirement of our present bond-seen red circulation by a method fair to the banks which have been forced by law to buy Government bonds above their investment market value. (c) The authorization of a bank-note currency which will be responsive in volume to the demands of commerce, and which will lay upon commerce no unnecessary burden of tax through the fact that business men find it desirable at certain seasons to borrow the credit of a bank in the form of circulating notes instead of bank deposits. In this connection it should be clearly kept in mind that the main business of a bank is to exchange its credit for the credit of its customers. The customers´ credit is known to but a small circle. The bank´s credit is known to a wider circle. The business of banking is to exchange the obligation of the bank for the obligation of the bank´s customer. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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