The business of banking, 1891-1914 /
Goodhart, C. A. E.
The business of banking, 1891-1914 / - London : Weidenfeld and Nicolson, c1972. - ix, 628 p. ; - L.S.E. research monographs ; .
Includes index.
Includes bibliographical references: p. 613-619.
This is a valuable book. The monthly series of some 16 banks' balance sheets, coupled with a rich tapestry of quotations from "Board Minutes" and "Chairman's' Annual Statements" provides a mine of new material with which to assess the operations of the UK Banking Sector over the 1891-1914
period. His main observation is that the money stock was demand and not supply determined, a finding which he supports by a number of empirical tests which he interprets as showing that the gold specie flow mechanism was inoperative or operated perversely over the period. Equilibrium between the
internal and the external sector is shown to be achieved through the movements of interest rates and interest rate differentials in and between the main capital market centres.
0297003186
Banks and banking.
HG2988 / .G63
332.1'0942 / GOO
The business of banking, 1891-1914 / - London : Weidenfeld and Nicolson, c1972. - ix, 628 p. ; - L.S.E. research monographs ; .
Includes index.
Includes bibliographical references: p. 613-619.
This is a valuable book. The monthly series of some 16 banks' balance sheets, coupled with a rich tapestry of quotations from "Board Minutes" and "Chairman's' Annual Statements" provides a mine of new material with which to assess the operations of the UK Banking Sector over the 1891-1914
period. His main observation is that the money stock was demand and not supply determined, a finding which he supports by a number of empirical tests which he interprets as showing that the gold specie flow mechanism was inoperative or operated perversely over the period. Equilibrium between the
internal and the external sector is shown to be achieved through the movements of interest rates and interest rate differentials in and between the main capital market centres.
0297003186
Banks and banking.
HG2988 / .G63
332.1'0942 / GOO