books



previous page: Elementary Banking | by John Franklin Ebersole
  
page up: Banking Books
  
next page: Money And Banking | by John Thom Holdsworth

Money And Banking | by William A. Scott



The present book is the outcome of ten years' experience in teaching large classes in the University of Wisconsin, and is presented to the public in the hope that students in other institutions as well as the average citizen who wishes to understand this subject may find it useful. Its subject is modern currency, and it aims to analyze and explain the complex media of exchange of the great nations of the present day in such a way as to reveal the nature and workings of each element and the relations between them all.

TitleMoney And Banking
AuthorWilliam A. Scott
PublisherHenry Holt And Company
Year1903
Copyright1903, Henry Holt And Company
AmazonMoney and Banking

To My Wife, Who Has Rendered Invaluable Assistance In The Preparation Of Every Chapter Of This Book.

William Amasa Scott

-Preface
The need of a suitable text or handbook on money and banking has doubtless been felt by every teacher of political economy. The complexity of the subject and the closeness of the reasoning often requi...
-Money And Banking. Chapter I. The Nature And Functions Of Money
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 ...
-1. The Standard Of Value
A standard of value is any commodity by means of which people measure and express the value of other commodities. For example, when we say that a pair of shoes is worth five dollars and a coat ten, we...
-2. The Medium Of Exchange
The phrase medium of exchange describes a group of instrumentalities which serve as a go-between in commercial transactions. In the United States it includes gold, silver, nickel, and copper coins, se...
-3. Credit As A Medium Of Exchange
The three wants which we have been considering are frequently, and at the present time commonly, satisfied by means of credit in one form or another. The methods of employing this instrumentality as a...
-4. The Relation Between The Standard Of Value And The Medium Of Exchange
Though the functions of the standard of value and the medium of exchange are quite distinct, they may be performed by the same commodity. In a primitive community this is usually the case, because uni...
-Chapter II. The Medium Of Exchange: Its Characteristics And Composition, And The Relation Between Its Constituent Elements
The term universal exchangeability, which we have just used to describe one of the essentials of a medium of exchange, signifies that quality or combination of qualities which renders a commodity or a...
-1. The Importance Of An Accurate, Convenient, And Safe Currency
The kind of accuracy which we must here consider is that which concerns the acquisition of the exact equivalent for a commodity sold or the giving of an exact equivalent of a good bought. Many other k...
-2. Characteristics Of A Good Currency
In order to meet the demands of modern commerce in the respects which have been indicated, the medium of exchange must possess the following characteristics:- A. It must consist of elements represent...
-3. The Composition Of Modern Currencies
The currency of every important commercial nation at the present time is composed partly of metallic and partly of paper instruments. The metallic portion consists of coins and may be classified as fo...
-4. Gresham's Law
The concurrent circulation, of metallic and paper currency and the use of coins made of different metals involves a difficulty the removal of which only time and long experience has made possible. Thi...
-5. Standard And Subsidiary Coins
How to prevent the operation of Gresham's law and thus to avoid the evils which it involves has been one of the most difficult problems which governments have had to solve. During the middle ages its ...
-6. The Concurrent Circulation Of Metallic And Paper Money
All forms of paper money are characterized by the possession of the credit feature briefly explained in the first chapter. Each and every one represents and in some way expresses the obligation of som...
-Chapter III. The Standard Of Value And Prices. 1. The Unit Of Value And Prices Defined
In the first chapter the standard of value was defined as that commodity in terms of which the values or ratios of exchange of all other commodities are expressed. It was also shown that these express...
-2. The Relation Between The Standard Of Value And Prices
Remembering that prices are simply the numerical expression of the ratios of exchange between every other commodity and the standard commodity, we may easily explain the immediate causes of their fluc...
-3. Primary And Secondary Standards
In order to avoid confusion in the interpretation of prices it is necessary to distinguish a special class of value standards to which the adjective secondary may be applied. The commodity standards, ...
-4. Characteristic Features Of Standards Of Value
The danger of confusing primary and secondary standards renders desirable a more detailed account of the characteristics of the former. Among these the most important are the following: - A. A high d...
-5. The History Of Standards And Units Of Value
The number and variety of commodities which at various times have served as standards are great. Various kinds of grain, rice, cattle, salt, tobacco, skins of animals, cacao, and various metals, of wh...
-6. The Importance Of Stability Of Value In The Standard
The vital part which the standard of value plays in the determination of prices suggests the importance of stability of value in the commodity which is to perform this function. Fluctuations in prices...
-7. Difficulty Of Securing A Stable Standard Of Value
However desirable a stable standard of value may be, its attainment is very difficult. Not only does no commodity exist the value of which is absolutely stable, but other necessary qualifications limi...
-8. The Interpretation Of Prices
The facts which have been presented in the present chapter should help us to appreciate the difficulty involved in the interpretation of present prices and of price statistics. The market price of any...
-Chapter IV. The Quantity Theory Of Prices
Before proceeding to the next topic in logical sequence, it is necessary to examine a theory which has played an important role in the history of monetary science, and which the student will often mee...
-1. Statement Of The Theory
The essence of this theory is that the. quantity of money in circulation furnishes the key to the explanation of prices and especially to that of the value of the monetary unit or standard. The explan...
-2. Its Relation To The Doctrine Of Demand And Supply
It should be noted in the first place that the attempt to use the doctrine of demand and supply in support of this theory is a failure. This doctrine is simply a method of describing the process throu...
-3. The Chief Fallacy Of The Theory
The chief fallacy of the quantity theorists, however, consists in the fact that they entirely overlook the necessity for a commodity standard. For example, in his book on Money and Monetary Problems, ...
-4. Weakness Of The Quantity Theory As An Explanation Of Certain Phenomena Of Prices
According to the quantity theory, changes in the volume of the currency are primary causes of changes in prices; while according to the other explanation the causal relation is the reverse, the quanti...
-5. Conclusion
In conclusion we may summarize our chief objections to the quantity theory under the following heads: - 1. It is based upon the fallacious assumption that a valuable commodity standard is not a neces...
-Chapter V. Metallic Money
In Chapter II (The Medium Of Exchange: Its Characteristics And Composition, And The Relation Between Its Constituent Elements) the currencies of modern times were analyzed into their constituent eleme...
-1. The Purpose And Importance Of Coinage
Metals, nowadays serve the purposes of money chiefly in the form of coins. Originally doubtless, and occasionally in historic times, they were used in a crude state, the requisite amount being weighed...
-2. Units Of Value And Methods Of Reckoning
Two systems of reckoning are at present in use, which we will designate as the English and the decimal. The former is the older of the two, having been employed everywhere in Europe during the Middle ...
-3. The Size, Weight, And Fineness Of Coins
The denominations of the coins once determined, the size, weight, and substance are dictated chiefly by convenience, and in this respect the different systems exhibit remarkable similarity. In the cou...
-4. The Naming And Stamping Of Coins
The naming of coins is a purely arbitrary matter, and practice varies widely in this particular. The tendency in modern times seems to be towards employing the names used in the system of accounting. ...
-5. Seigniorage
The expenses of coinage are paid in two different ways. Sometimes individuals are permitted to bring gold or silver bullion to the mints and have it transformed into coin absolutely free of charge. In...
-6. Coinage Systems Of The Chief Commercial Countries
A brief description of the coinage systems of the chief commercial countries of the present day may serve as an illustration of the principles which we have been discussing and as an aid to the study ...
-Coinage Systems Of The Chief Commercial Countries. Part 2
The minor coins of the United States are a five-cent piece, weighing 77.16 grains, and made of a mixture of copper and nickel in the proportion of 75 parts of the former to 25 parts of the latter, a o...
-Coinage Systems Of The Chief Commercial Countries. Part 3
C. France. - As has been previously noted, the unit of value in France at the present time is the franc, divided into one hundred centimes. The gold coins authorized by law are one-hundred-, fifty-, t...
-Coinage Systems Of The Chief Commercial Countries. Part 4
The silver coins are subsidiary and consist of krone, half-krone, and fifty-heller pieces. The krone is the exact equivalent of the French franc and weighs accord-ingly 5 grams or 77.16 grains of stan...
-Chapter VI. Government Paper Money
From the standpoint of origin or source of issue the most important kinds of paper money may be grouped under two heads, government currency and bank currency. At the present time banks issue much the...
-1. Inconvertible Government Notes
This kind of currency has usually, and perhaps always, been issued in times of fiscal exigency. When governments have found it difficult or impossible to raise funds, either by taxation or by loans of...
-Inconvertible Government Notes. Continued
The fact that inconvertible government notes are legal-tender and a part of the circulating medium has sometimes been supposed to render them proof against the operations of this principle, and the ex...
-2. Convertible Government Notes
This class of notes is characterized by the fact that they are redeemable on demand in coin, and are thus exempt from the defect of depreciation. Two varieties should be distinguished and separately c...
-Convertible Government Notes. Part 2
The second defect of convertible treasury notes is the fact that they impose upon the government the necessity of keeping on hand a reserve of standard coin sufficient to meet at any and all times the...
-Convertible Government Notes. Part 3
A comparison between these notes and subsidiary coin may be instructive. They are alike in having an intrinsic value less than their face value, and in being maintained at par in the circulation by re...
-Chapter VII. Bank Currency, Its Nature, Operation, And Advantages
The major part of the paper money of the present day is supplied by institutions called banks. In order to understand this sort of currency, therefore, it is necessary to explain the nature and method...
-1. The Origin And Development Of Banking Institutions
First of all we must note the fact that these institutions have changed very much in character since their origin, and consequently nowadays perform many functions unknown to those of former times. Th...
-2. The Nature And Classification Of Deposits
The keeping of deposits is one of the chief functions of banks at the present time and is directly connected with the currency function. Two classes of deposits, however, must be distinguished. A. De...
-3. The Investment Of Deposits
The great development of the credit system in modern times accounts for the ability of banks to make profitable use of deposits left with them even for very short periods of time, and explains the chi...
-4. The Loan Of The Bank's Credit
The most striking feature of modern banking, however, is not the profitable use of deposits in the manner just indicated, but the loan of the credit of banks, which makes possible the universal practi...
-5. The Technical Meaning Of The Terms Discount, Deposit, And Banking
In modern practice the distinction between the investment of deposits and the lending of the bank's credit is not drawn. The term deposits is applied indifferently to credit balances originating in de...
-6. The Advantages Of Bank Currency
Besides being able to transform their notes and bills of exchange into funds immediately available for purposes of commerce, business men derive great advantage from the superior convenience, safety, ...
-Chapter VIII. The Forms Of Bank Currency And The Limits Of Its Issue
The characteristic features of the various forms of bank currency mentioned in the preceding chapter will now be described, in order that the methods of the regulation of each and the limits of its ci...
-1. Checks
A check may be denned as the written or printed order of a depositor to have a portion or the whole of his credit balance transferred to another person. It is addressed to the bank, and contains the d...
-2. Drafts
A draft may be defined as a bank's check. In most essentials it resembles an ordinary check, differing from it chiefly in the fact that it is an obligation of a bank instead of a depositor and is cons...
-3. Circular Letters Of Credit
A still further extension of the check system is accomplished by the so-called Letter of Credit. As previously stated, it is intended for the use of travellers, especially in foreign countries. This d...
-4. Bank-Notes
A bank-note has already been defined as the promise of a bank to pay to bearer on demand a specified sum of money. It is usually printed, contains a statement of the amount both in letters and in figu...
-5. The Natural Limits Of The Issue Of Bank Currency
The natural limits of bank currency must be sought in the magnitude of the sums of money and of the credit against which it is issued. As we have previously stated, at one time or another practically ...
-The Natural Limits Of The Issue Of Bank Currency. Continued
Commercial motives may be regarded as sufficient to establish the general principle that, under ordinary circumstances, business men will use those forms of currency which are most convenient, economi...
-6. The Currency Theory
The so-called currency theory had its origin in England in the early part of the last century, at the time when a forced circulation was given to the notes of the Bank of England by the suspension of ...
-Chapter IX. Bank Currency, Its Regulation And Safety
A great many methods of safeguarding the banking business have been tried, but only those which have been found really efficient will be described in this chapter. ...
-1. The Bank's Capital And Surplus
One of the chief means thus employed has for its purpose the protection of noteholders and depositors in case of bank failures, and consists of the requirement that banks shall accumulate and maintain...
-2. Liquid Securities
By these are meant securities which mature in a short time, the chief representatives of which are the bills of exchange and other forms of paper which come into existence as a result of the operation...
-3. Special Protection Of Noteholders
In the legal regulation of the banking business most States have distinguished between depositors and noteholders and have granted special protection to the latter. The chief reasons for this practice...
-Special Protection Of Noteholders. Continued
A third objection arises from the fact that this method of protecting note issues involves the maintenance of a permanent public debt. No substitute for national bonds has yet been found, notwithstand...
-4. Public Inspection And Supervision
Publicity is an important safeguard against unsound banking, and it also assists banks in obtaining the confidence of the public. So important to a bank is it that the people generally should believe ...
-5. Other Safeguards Of Sound Banking
Besides those already mentioned attention should be called to certain safeguards of a minor character, but nevertheless of value. Among these may be mentioned the limitation of the amount of the paper...
-6. Importance Of Honesty, Wisdom, And Discretion In Bank Officials
Since the chief reliance of a bank, beyond its actual reserve, must be placed upon the short-time business paper which it holds, it follows that the best security for its safety must be the honesty, w...
-7. Banking In Times Of Crisis
In times of crisis or panic the measures which have been described are frequently inadequate to prevent the failure of banks. On such extraordinary occasions large numbers of business men are unable t...
-Chapter X. The Chief Banking Systems Of The World
The relations necessarily established between banks by the processes of exchange, together with the regulations imposed upon them by law, custom, or business usage, constitute in each nation a banking...
-1. The English System
The chief characteristics of the English system date back to an act of Parliament passed in 1844. At that time the banking business of the country was conducted by the Bank of England and its branches...
-2. The Banking System Of The United States
In this country three kinds of institutions must be distinguished : the national banks, founded under authority of federal law; the state banks, organized in accordance with the provisions of the bank...
-3. The Banking System Of The German Empire
The main features of the banking system of the German Empire are due to an imperial act passed March 14, 1875. Previous to that time there was a considerable number of private banks scattered througho...
-4. The Banking System Of France
The banking system of France resembles that of Germany in being centralized in a great institution which controls a large part of the entire business of the republic. This institution is the Bank of F...
-5. The Canadian Banking System
The banking system of Canada is in marked contrast to the highly The Chief Banking Systems of the World. 205 centralized systems of France and Germany on the one hand, and to the excessively decentral...
-6. Banking In Other Countries
Besides those of England, France, Germany, the United States, and Canada, no banking systems have been developed in any part of the world worthy of being described as types. Every country, however, ha...
-7. The Relative Advantages Of The Different Systems
The different banking systems described above are variations of two main types which are in marked contrast to each other. The one is the free-banking system, characterized by numerous independent, co...
-The Relative Advantages Of The Different Systems. Continued
As special advantages of the free-banking system may be mentioned the following points: - (1) It promotes the easy development of the banking business, and thereby the steady growth of industry and c...
-Chapter XI. Banking Machinery And Methods
In order to complete our account of the processes by which bank currency performs its various functions, and of the influences by which it is regulated, it is necessary to discuss the methods by which...
-1. Bank Correspondents
In connection with the description of drafts it has already been remarked that business in distant places is often transacted by means of correspondents who act as agents for banks in other towns or c...
-2. The Branch-Bank System
The establishment of branch banks diminishes very much the number of correspondents which an institution needs to have, and may make it possible to entirely dispense with them. If a bank establishes a...
-3. Clearing-Houses
On account of the operations which have just been described every bank finds itself each day in the possession of checks, drafts, and bills of exchange payable by or collectible through the various ot...
-4. The Development And Extension Of The Clearing System
The employment on a large scale of this extremely useful device for the transaction of domestic exchanges belongs to very recent times. The oldest clearing-house in existence is doubtless that of the ...
-5. Bills Of Exchange
In previous pages bills of exchange have frequently been mentioned as the most convenient and safe form of bank investments. As one of the most important parts of the machinery by which exchanges betw...
-Bills Of Exchange. Part 2
Another formality involved in the use of bills of exchange is that of acceptance. Before the payment of a bill drawn for a term can be enforced it must be presented to the drawee for acceptance. This ...
-Bills Of Exchange. Part 3
The credit of the drawer of a bill is so important an element in its value that large firms of wide reputation and known financial strength have a great advantage in commerce on a large scale over sma...
-Chapter XII. The Foreign Exchanges
In addition to many characteristics common to both the domestic and the foreign exchanges, the latter possess several peculiar features which demand special and independent treatment. Among these may ...
-1. The Par Of Exchange
The basis of all exchanges between countries is the so-called par of exchange, by which is meant the relative amounts of pure metal contained in their respective units of value. For example, the par o...
-2. The Gold Points
In order properly to interpret the fluctuations in the value of foreign bills, it is necessary to note the so-called gold points, that is, the rates of foreign exchange which are likely to cause movem...
-3. Influences Which Ordinarily Determine The Value Of Foreign Bills
The fluctuations in the value of bills of exchange within or even beyond the limits set by the gold points are caused by a variety of influences which must now be particularized and described. In this...
-Influences Which Ordinarily Determine The Value Of Foreign Bills. Continued
Under this head may also be included payments of interest and dividends to foreigners, since these are based upon the transactions which we have just described. To the extent that foreigners hold Amer...
-4. Extraordinary Influences Affecting The Foreign Exchanges
Under this head we shall consider the effect upon the foreign exchanges of currency changes, the production of the precious metals, commercial crises, and unusual commercial transactions. A. Currency...
-Extraordinary Influences Affecting The Foreign Exchanges. Continued
B. Production of the precious metals. - Inasmuch as gold and silver serve in the double capacity of commodities of ordinary consumption and of money metals, their production affects the foreign exchan...
-5. The Reaction Of Rates Of Foreign Exchange Upon International Commerce
Although the rates of foreign exchange are usually effects of which commercial events are the causes, the reversal of this relation is not uncommon. Inasmuch as these rates enter into the determinatio...
-6. Characteristics Of The Chief Markets For Foreign Bills
In each country there is some one city which serves as the chief agent in the conduct of foreign exchanges. In England it is London; in the United States, New York; in France, Paris; in Germany, Berli...
-Characteristics Of The Chief Markets For Foreign Bills. Part 2
Course Of Exchange. London, December 8, 1891 Time. Prices Negotiated. Meaning of Price. From To Amsterdam........................ Short 12 1 5/8 ...
-Chief Markets Characteristics For Foreign Bills. Part 3
Berlin exchange on London 20 m. 38 pf.; unchanged. It should be observed that the quotation of sixty-day as compared with demand bills in francs is expressed by higher figures, but in sterling and ma...
-7. The Interpretation Of The Rates Of Exchange
The numerous and varied influences which enter into the determination of the rates of foreign exchange often render their interpretation in a given case very difficult. It is much easier to catalogue ...
-Chapter XIII. The Bank Rates
The charges made by banks upon their loans and the interest they pay on deposits are vitally connected with the topics which have been discussed in the preceding chapters, and must be considered befor...
-1. The Rate Of Discount
The most striking fact connected with this rate is its variation from the ordinary rate of interest and its tendency to fluctuate. Reasoning from the principle of political economy that the income fro...
-The Rate Of Discount. Part 2
From this table it is evident that many of the influences affecting the rate of discount operate through the bank reserves and are identical with those which cause these reserves to fluctuate. On acco...
-The Rate Of Discount. Part 3
Besides those influences which affect the rate of discount through the bank reserves there are others which operate more or less independently. This is evident from the fact that there is no fixed rel...
-2. The Rate On Promissory Notes
The charge made by banks upon promissory notes as distinguished from bills of exchange usually follows the rate of discount very closely, but is not always identical with it. The Bank of England has o...
-4. The Rate Of Interest On Deposits
The practice of paying interest on deposits is not universal. The Bank of England and the Bank of France do not indulge in it at all, and the laws governing some of the other large European institutio...
-Chapter XIV. The Theory Of Bimetallism
So far as possible up to this point we have attempted to avoid controverted questions, and to expound those principles and laws of monetary science which are regarded as true by the most competent per...
-1. The Nature And Purpose Of Bimetallism
The word bimetallism is used to describe a monetary system in which standard coins of both gold and silver are freely manufactured without any preference whatever being shown by the government towards...
-2. The Bimetallists' Arraignment Of The Monometallic System
Their chief charges are directed against gold monometallism as it is at present practised, and may be summarized as follows:- A. Monometallism causes unnecessarily great fluctuations in prices, becau...
-3. The Compensatory Action Of The Double Standard
As a remedy for these evils the bimetallists rely upon what has been called the compensatory action of the double standard. This may be described as follows: Suppose that the ratio established between...
-4. The Weak Points In The Theory Of Bimetallism
The cornerstone of the theory of bimetallism is the doctrine of the compensatory action of the double standard, and its chief strength consists in the fact that the basis of this doctrine is sound and...
-5. National And International Bimetallism
Bimetallists may be grouped into two classes according to the degree of faith they have in the efficiency of the compensatory action of the double standard. Some believe that a single nation, like Eng...
-Chapter XV. The History Of Bimetallism
In order to appreciate the present status of the controversy over bimetallism and the practical aspects of the question, some knowledge of the world's experience with the double standard is necessary....
-1. Early European Experience
From the beginning of the fourteenth to the early years of the nineteenth century every European nation had a bimetallic currency, in which, however, silver played the largest part. Gold coins were in...
-2. Currency Reform In England And The Act Of 1816
The first change in England's method of dealing with her currency difficulties came in 1774. At that time she was suffering from the double evil of a currency deficient in quantity and in the weight o...
-3. Bimetallism In France To 1865
The experience of France with bimetallism between the years 1803 and 1865 is most instructive because the obstacles which tended to obscure its action in the Middle Ages had by that time been swept aw...
-Bimetallism In France To 1865. Continued
* Laughlin's History of Bimetallism, 1st ed., p. 42. The effect of the increased production of gold after 1850 is not questioned by any one. The only marvel is that the value of this metal did not fa...
-4. Bimetallism In The United States To 1873
The experience of the United States with bimetallism admirably supplements that of France because it exhibits the effect of two ratios, one above and the other below that of the French mint. From 1792...
-5. The Fall In The Value Of Silver After 1875
The table of ratios on p. 323 shows that the value of silver as measured by gold steadily and persistently fell after 1859, and that its downward pace was greatly accelerated in 1875 and 1876. This wa...
-6. The Latin Union
We are now prepared to resume our account of the history of bimetallism in France and the United States. Regarding the former country the most important facts to be noticed are connected with a moneta...
-7. Bimetallism In The United States Since 1873
Strictly speaking the currency of the United States has not been bimetallic since 1873, but a very close approach to bimetallism was made in 1878 and 1890. The chief source of the increased production...
-8. The International Conferences
Another phase of the history of bimetallism must be presented before the present status of the question can be appreciated. Four international conferences and a number of others of less importance hav...
-9. The Present Status Of Bimetallism
Having passed in review the most important aspects of the world's experience with bimetallism, we may now close our discussion with a statement of results, first of all regarding the bearing of the hi...
-Appendix I. List Of References
Aldrich, Senator Nelson W. Retail Prices and Wages. Senate Report No. 986, 52d Congress, 1st Session. 3 parts. Washington, 1892. Annals of the American Academy of Political and Social Science. Arend...
-List Of References. Part 2
Standpoint. Journal of Political Economy, December, 1898. Helferich, Johann A. R. von. Von den periodischen Schwankungen im Werte der edlen Metalle von der Entdeckung Amerikas bis zum Jahre 1830. Nurn...
-List Of References. Part 3
Silver and Gold Coinage of England from the Conquest to the Present Time, etc. Journal of the London Statistical Society, vol. VIII, pt. IV, 1890. Palgrave, R. H. Inglis. Dictionary of Political Econ...
-Appendix II. Statistical Tables. Statistics of Production of The Precious Metals
Period. Gold. Total for Period. Silver. Total for Period. Percentage of Production by Weight. Ounces fine Value. Ounces fine. Coining Value. Gold. ...
-Appendix III. The Par Of Exchange And Gold Points Of The Chief Centres Of Foreign Exchange
London Name of Centre. Par. Gold-importing Point. Gold-exporting Point. Berlin......................... 20.43 20.53 20.32 Amsterdam.................
-Discussions In Economics And Statistics
Edited by Professor Davis R. Dewey. With portrait. 454 + 481 pp. 2 vols. 8vo. $6.00, net. Vol. I. Finance and Taxation, Money and Bimetallism, Economic Theory. Vol. II. Statistics, National Growth, S...
-Discussions In Education
Edited by James Phinney Munroe. 8vo. $3.00, net. The author had hoped himself to collect these papers in a volume. They are grouped under Technological Education, Manual Education, The Teaching of Ar...
-Books on Money
Money By Francis A. Walker, Professor of Political Economy and History in the Sheffield Scientific School of Yale College, and Lecturer in Political Economy in the Johns Hopkins University ; author o...









TOP
previous page: Elementary Banking | by John Franklin Ebersole
  
page up: Banking Books
  
next page: Money And Banking | by John Thom Holdsworth