Readings in Money and Banking |
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Page 33
... clearing ses- sions . Banks will soon find it economical to settle instead by means of transferable reserve accounts kept on the books of the clearing- house , echoing the original development of transfer banking . These accounts may be ...
... clearing ses- sions . Banks will soon find it economical to settle instead by means of transferable reserve accounts kept on the books of the clearing- house , echoing the original development of transfer banking . These accounts may be ...
Page 48
... clearing system in limiting over - issue among competitive banks . Because of this , he wrote : no such thing as an excess of paper or as a depreciation of paper can take place for want of a sufficiently early and active demand for gold ...
... clearing system in limiting over - issue among competitive banks . Because of this , he wrote : no such thing as an excess of paper or as a depreciation of paper can take place for want of a sufficiently early and active demand for gold ...
Page 114
... clearing system provided by the Fed is a major conven- ience . Before the advent of the Federal Reserve System , banks leaned heavily upon clearing house systems of their own . Even today there are a number of such clearing houses ...
... clearing system provided by the Fed is a major conven- ience . Before the advent of the Federal Reserve System , banks leaned heavily upon clearing house systems of their own . Even today there are a number of such clearing houses ...
Contents
Why Bother? | 3 |
The Theory of Money | 12 |
The Evolution of | 23 |
Copyright | |
18 other sections not shown
Common terms and phrases
assets balance bank failures bank notes Bank of England bank's bankers banking crises banking panics banking system bonds borrow branch banking capital cash central bank changes charter circulation clearinghouse commercial banks commodity money costs countries crisis currency demand deposits deposit insurance depositors discount dollar economic economists effect excess demand exchange Federal Reserve Bank Federal Reserve System fractional-reserve banking free banking funds George Selgin gold standard growth rate History income increase inflation inside money institutions interest rates investment last resort lender of last liabilities loans losses ment Milton Friedman monetary authority monetary policy money supply national banks natural rate note issue noteholders operations payments percent period price level price of gold production profits purchasing power rate of interest real output real rate redeem regulation reserve requirements restrictions rise rule securities stability theory thrifts tion trade trend United value of money velocity wages wildcat banking York