The business of banking, 1891-1914 /

By:

Goodhart, C. A. E

Material type: Text

TextSeries: L.S.E. research monographsPublication details: London : Weidenfeld and Nicolson, c1972.Description: ix, 628 pISBN:

0297003186

Subject(s):

Banks and banking

DDC classification:

332.1'0942 GOO

LOC classification:

HG2988 .G63

Summary: 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.

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Holdings
Item type	Current library	Collection	Call number	Status	Date due	Barcode
Monograph & others	CBN HQ Library General Stacks	Non-fiction	332.1'0942 GOO (Browse shelf(Opens below))	Available		31008100149828

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Previous	332.1'0941 PRI A Guide to Banking in Britain /	332.1'0941 PRI A guide to banking in Britain /	332.1'0942 BAN Banking for Profit :	332.1'0942 GOO The business of banking, 1891-1914 /	332.1'0942 HAC Economics of money and income.	332.1'0942 NEV The London clearing banks,	332.1'0942 REV The British financial system /	Next

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.

rpm 07/05/2018

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