• @
  • «»{}∼
The Rise of Commercial Banking Institutions in the United States (Classic Reprint)

The Rise of Commercial Banking Institutions in the United States (Classic Reprint)

1187.5 руб.
Добавить в корзину
Excerpt from The Rise of Commercial Banking Institutions in the United States

The early settlements in America, like all new agricultural communities, were deficient in capital. The colonists knew that they required something for the development of their trade and natural resources which they did not possess, but their attempts to supply this deficiency show that they did not clearly understand their need. Their need was capital, but they fell into the error common to persons possessing land in a new country. They thought what they needed was merely more money, and accordingly, instead of establishing agencies which might have enabled them to make the best and most systematic use of the limited capital and credit which they did possess, they resorted to what seemed to them a much easier course, the issue of paper money.

In some respects their course was at first a natural one. There was a real need of a larger medium of exchange. This need, which continued to be felt to a greater or less degree during the whole colonial period, was, it is true aggravated by the excessive issues of paper money, but nevertheless, it was a natural and real need. Metallic money is an expensive medium of exchange and new settlers on account of the necessity of employing all their capital productively are very loath to invest even a part of it in hard money, which is only a tool of exchange. Circulating notes are much cheaper, and providing their value can be assured, may to some extent, supply the need for money in domestic operations. The colonists therefore resorted to the issue of paper money, and it was issued to some extent in each of the thirteen colonies. This device was, however, employed "without limitation or judgment" so that instead of facilitating commercial intercourse, it became its worst barrier.

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.
Эта книга будет изготовлена в соответствии с Вашим заказом по технологии Print-on-Demand компанией ООО «Книга по Требованию». Print-on-Demand - это технология печати книг по Вашему заказу на цифровом типографском оборудовании. Книга, произведенная по технологии Print-on-Demand (POD) представляет собой классическую печатную книгу с соблюдением всех стандартов качества, от офсетной бумаги и плотного картона до качественного клея, используемого при изготовлении. Черно-белая текстовая или полноцветная иллюстрированная книга (в зависимости от исходного файла, подготовленного к печати) может быть изготовлена в разных вариантах: - в мягкой обложке (Клеевое Бесшвейное Скрепление); - скрепление скобой (для книг с небольшим количеством страниц); - в твердом переплете с клееным текстовым блоком; Материалы, используемые при производстве книги: - бумага текстового блока - офсетная (белая или кремовая) 80 г/м2 - мягкая обложка - бумага мелованная 250 г/м2; - ламинация обложки - матовая или глянцевая; - твердый переплет - картон 2 мм, каптал, белые форзацы, прямой корешок - сверхпрочный полимерный клей; - каждая книга упакована в термопленку. Каждый заказ обрабатывается в индивидуальном порядке: каждой книге, напечатанной по технологии Print-on-Demand, присваивается уникальный номер.