Excerpt from American Tariff Controversies in the Nineteenth Century, Vol. 2 of 2 The public money was distributed among chosen banks in various parts of the country, a disposition of it that had two evil results, of which that of favoritism in the selection of the banks was less important than the other. The requirement that the banks which were allowed to hold public deposits should maintain a specific proportion of their liabilities as a reserve was made an excuse by other banks to pursue a less conservative policy. ...
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Excerpt from American Tariff Controversies in the Nineteenth Century, Vol. 2 of 2 The public money was distributed among chosen banks in various parts of the country, a disposition of it that had two evil results, of which that of favoritism in the selection of the banks was less important than the other. The requirement that the banks which were allowed to hold public deposits should maintain a specific proportion of their liabilities as a reserve was made an excuse by other banks to pursue a less conservative policy. Banks were organized upon a basis of debt rather than of capi tal, excessive issues of notes were made, there was brisk competition for loans between sound and unsound banks, and the inevitable results of inflation ensued. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... 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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PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.