Business booms, (see Business cycles) Business cycles, chap. on, 494-546; in U.S., 505; causes of, 511-19; and commercial banking, 519-41; and the economic system, 749; and individual banker's control, 752-3
Business depression (see Business cycles)
Business failures and seasonal mone- tary stringency, 502; in time of depression, 509-10
Call loans, definition of, 376; and stock exchange speculation, 391- 94; in time of crisis, 531; of Canadian borrowers, 645 Capital formation, under a capital- istic system, 49–50 Capital Issues Committee, 206 Capital raising, the corporation and, chap.on, 139-50; through reinvest- ment, 135; by direct subscription, 135; through promotion, 186-97 Cash discount, 26
Cashier's check, 164; illustration of, 167
Cattle loan company, chart, 650; functions of, 659–65
Central banks, opposition to, 569; European and credit control, 753 (see also First and Second Banks of the United States.)
Central reserve cities, meaning of term, 371
Certificates of deposit, 374 Certified check, 164 Chattel mortgage, illustration of, 445
Checks (see Bank checks) Clayton Act, 773
Clearing-house associations, 457-70 Clearing-house bank examinations, 468-70
Clearing-house certificates, 460-61 Clearing-house checks, 538 Clearing-house loan certificates, 533-38
Clearings under Federal Reserve System, 608-13
Coinage, necessity of, 65; a govern- ment function, 66; effects of bad system of, 67-69; regulations in United States, 69-73; abrasion of, 72; counterfeiting of, 72 Collateral loans, 386-90; to member banks, 592-93
Collateral trust bond, 157, 308 Collection charges, 467; diversity of, 609; reduction of, under Federal Reserve System, 612-13 Collections, 470-72; under Federal Reserve System, 608-13 Commercial Acceptance Trust (see Discount companies)
Commercial agencies, 379
Commercial banker, dominant posi- tion of, 751-53
Commercial bank investments, 374; kinds of, 401; volume of, 401-2, 488 Commercial banking system, chap. on, 457-93, and business cycles, chap. on, 494-546 (see also Commercial banks)
Commercial bank loans, analysis of, 374; importance of, 375; type of, 375-76; classification of, in national banks, 377; capital pur- poses, 383-84, 487, 724; secured by mortgages, 385; secured by promissory notes, 385; secured by stocks and bonds, 386; secured by bills of lading, 394; secured by warehouse receipts, 397; and deposits compared, 479; for fixed in time of crisis (table) 530; regulation of, 553-56 Commercial banks, chap. on practi- cal operations of, 357-409; posi- tion in financial structure (see charts 134, 136, 650), 375, 488, 529; classification of, 358; growth and importance of, charts, 359, 360; incidental services of, 361-63; investments of (see Commercial bank investments); and foreign trade, chap. on, 410-426; relation to commercial paper houses, 429; relation to discount companies,
441; and economic organization, 486-88; and business cycles, 519-41; and agricultural credit, 656-69; engaging in trust com- pany operations, 729-30 Commercial credit, 124 Commercial credit companies (see Discount companies)
Commercial credit instruments, 162-
69 (see also credit instruments) Commercial letters of credit (see Letters of credit)
Commercial loans, nature of, 376 (see also Single-name and Two- name paper)
Commercial paper, street use of term, 434; as secondary reserve, 475; not liquid in time of crisis, 532-33
Commercial paper houses, chart, 136, 427-37; economic signifi- cance of, 435
Common denominator of value (see pecuniary unit)
Common stock, 140, 153-54 "Community of interest," 729, 772 "Compensated" dollar (see "Stabil- ized" dollar)
Comptroller of the Currency, 394; duties of, 558 Comstock Lode, 80
Concentration of money and credit (see Financial concentration) Conditional sale agreement, illustra- tion of, 447
Consolidated stock exchange, 281, 284
Consortium of international bankers, 772-73
Consumptive credit, definition of, 125
Consumptive credit institutions, chap. on, 697-722 Contingent liabilities, 380
Control of discount rates, under Federal Reserve System, 593, 597-98; after the war, 634-39 Co-operative credit associations, agricultural, 652; 708-14
Corporate reorganizations, 312 Corporation, relation to financial structure, (chart 136), 750; "close," 135; as capital raising device, chap. on, 139-50 Correspondent banks, 470-75 Cotton "factor," 655
Country banks, meaning of term, 371
Credit, nature and functions of, 121-31; kinds of, 122-23; invest- ment, 124; commercial, 124; consumptive, 125; basis of, 125- 27; significance of, 127-29; book, 162
Credit analysis, 378-83
Credit currency (see Deposit cur- rency)
Credit department, 379
Credit instruments, 122; chap. on, 151-84; investment, 151-61; com- mercial, 162-69; as media of exchange, 170
Creditor nation, 118, 260, 424 Credit unions (see Co-operative credit associations)
Crime of 1873, 77, 79 Crises (see Business cycles)
Crop liens, amount of, 653; nature of, 654
Curb market, 280; volume of transactions on, 281; importance of, 284-85
Currency act of 1900, 85; banking provisions of, 567
Custodian of Securities, 316-21 Cyanide process, 80
Debenture bond, 157
Decentralized banking, 522-23 Deflation, process of, 639-43 Demand loans, definition of, 376 Department-store finance (see Finan- cial integration)
Depositary banks, for government funds, 373; 614-15
Deposit currency, origin of, 366-70, 475-80; increasing importance of, 372; amount of, 483-85; and
prices, 485; elasticity of (chart), 499; reasons for elasticity, 501-2; elasticity of, under Federal Re- serve System, 594-96
Depressions (see Business cycles) Discount companies, chart, 136; 437-54; economic significance of, 453
Discount Corporation of New York, 608
Discount market, nature and func- tions of, 600-608
Discount rates, control of, 593, 597-98, 634-39 (see also Interest rates)
Discounting receivables (see Assign- ing accounts)
Dollar drafts, import, 414; export, 418, 420
Domestic exchange, 115-16, 472 Double liability of bank share- holders, 552-53
Draft (see Bills of exchange, trade acceptance, bank draft, accom- modation draft)
"Farmers' bank," 657
Federal Advisory Council, 576 Federal Farm Loan Act, passage of, 674
Federal Farm Loan Board, nature and general powers of, 674 Federal Farm Loan districts, map of, 676
Federal Farm Loan Registrar, 677, 682
Federal Farm Loan System, organ-
ization of, 672-82; loans of, 685; results of, 686-87; criticisms of, 688-90
Federal Land banks (chart 650), 675; financial statement of, 684-85
Federal Reserve Act, evolution of,
Federal Reserve Agent, 575, 580, 588 Federal Reserve banks, collateral loans of, 373; financial state- ments of, 616–18; interborrowing operations of, 644
Federal Reserve bank notes, amount of, 103; regulation of, 578-79; legal tender of, 589
Federal Reserve Board, and ad- ministration of Edge Act, 264-65, 423; general powers and duties of, 576-77; extraordinary power of, over economic system, 752-54 Federal Reserve districts, map of, 573; size of, 574
Federal Reserve notes, amount of,
103; regulation of, 580-89; legal tender of, 589
Federal Reserve System, chaps. on, 566-648; and export financing, 264-65; 410-21; and foreign branch banks, 421-22; position in financial structure, charts, 134, 136, 650; and control of business cycle, 593-608; and war finance, 624-31; and state banks, 735-39; and savings banks, 742
Fiat currency, 91
Finance companies (see Discount companies)
Financial concentration, 756-57; in New York, 758; in Germany, 758-61; Congressional investi- gation of, 761-64; defense of, by Morgan and Company, 765- 69; and control of undeveloped regions, 772-73
Financial crises (see Business cycles) Financial integration, 137, chap. on, 723-42; and concentra- tion, 762
Financial organization, international aspects of, 273-76; 754-56 Financial panics (see Business cycle) Financial reorganizations, 312 Financial statement, illustration of, 381
Financial structure, 3; 132-38;
charts of, 134, 136, 218, 650; 749 Financial system, and the general economic organization, chap. on, 743-777; interdependence of, 748-49 (see also Pecuniary system) First Bank of the United States, 549 First Federal Foreign Banking Association, 423
Fiscal agency, 313-15
Fixed capital, 2, 8, 132; charts on,
Foreign Bond and Share Corpora- tion, 267
Foreign branch banks, 421-22 Foreign exchange, chap. on, 107–120; during the war, 116-17; pegging of, 117; depreciation of, 117-18, and export trade, 262-63; and international indebtedness, 269-72 Foreign Finance Corporation, 268 Foreign financing, chaps. on, 256-
78, 410-26 (see also Investment trusts and Foreign trade) Foreign investments, and free silver agitation, 28; of U.S., 118; in the U.S., 214; of Great Britain, 256; future of American, 269-73 Foreign Investment Trusts (see Investment trusts)
Foreign trade, since the war, 262-63; financing of (see Foreign financing)
Fractional silver coins, redemption of, 84; legal tender of, 86; amount of, 103
"Free banking" law of New York, 552
Free silver agitation, and interna- tional finance, 27-28; and domes- tic finance, 28; and farmers, 38; and pensions, 39; and creditors, 39
German banking, concentration of, 758-61
German financial concentration, 758-61, 764
German indemnity, and the foreign exchanges, 274; cancellation of, 275-76; difficulty in paying, 755 Gold, why chosen as standard, 19, 79-83; durability of, 19; relative stability of, 20; production of, 82; commercial ratio of, to silver, 83; international flow of, 115; domestic flow of, 116; holdings of leading nations (chart), 271 Gold certificates, 100; redemption of, 102; amount of, 103; legal tender of, 104; exchanged for Federal Reserve notes, 577 Gold clearance (see Gold settlement fund)
Gold coin, weight of, 4; legal tender of, 85; amount of, 103 Gold dollar, definition of, 21 Gold exchange standard, 77 Gold points, 112
Gold settlement fund, 611 Gold standard, history of, 75-77; law of 1900, 77
Government regulation of banking, chap. on, 547-65 Great Illusion, the, 755 Greenback currency, and trading methods, 25-27; and debtor class, 32; purpose and nature of, 101; amount of, 101, 103; redemption of, 102; legal tender provisions of, 104
Gresham's Law, and defective coin- age, 66; and bimetallism, 73-79
High-grade securities, chap. on,
Hoarding, and financial panics, 527; and Federal Reserve System, 644
Indemnity (see German indemnity) Independent treasury, 503 (see also Depositary banks)
Index numbers, purpose of, 22; method of computing, 22; nature of, 23
Inelastic currency (see also Elastic currency), under national banking system, 497-502; and financial crises, 525-26 Inflation, process of, 628-30; in Europe, 630-31
Insurance companies (charts) 134, 136, 650; and bond distribution, 237; as savings institutions, 344-48
Integration (see Financial integra- tion)
Inter-bank borrowing, 474-75
Interest rates, in New York City (chart), 393; on deposits, 465; on loans, 466 (see also Discount rates)
Interlocking directorates, system of, 761-64; declared illegal, 771 International barter, 275 International finance, control of, 754-56 (see also Foreign exchange) International indebtedness, and for- eign exchange, 269-72; cancel- lation of, 275-76; difficulty in paying, 756
Investment banking, interrelations with financial system (chart) 136; history of, 212-17; functional chart of, 218; function of investi- gation and analysis, 218-28; function of underwriting (see Underwriting); function of dis- tribution, 234-40; sundry services of, 240-43; profits of, 243-45; reg- ulation of, 245-47; and economic organization, 247-51; concentra- tion and integration of, 761-62 Investment credit, 124
Investment loans, nature of, 376-90
Investment trusts, chap. on, 256–78; of Great Britain, 257-60; Ameri- can authorized, 263-69
Joint-stock land banks chart, 650, 681-82; growth of, 685-86 Klondike gold mines, 80
Lease agreement, illustration of, 452
Legal tender, purpose of, 85; of metallic money, 85-86, of govern- ment paper money, 103-5; of national bank notes, 371; of Federal Reserve Bank and Federal Reserve notes, 589
Letter of credit agreement, illustra- tion of, 416
Letters of credit, 372, 411-14; illustration of, 417
Limited liability, advantages of, 141-43
"Limping standard," 76
Liquidation of loans, automatic theory, 532; annual, 532 "Living trusts," 305 Loan sharks, 703-8
London stock exchange, 214, 256 Low grade securities (see Speculative securities); and stock exchange speculation, 296
"Margin" trading, 286-87, 392 McLean Act, 264
Medium of exchange, function of, 41-42; and capitalistic produc- tion, 43
Mercantilism, 57–59, 744 Metallic currency, regulation of, 65-90; subsidiary forms of, 84-85; legal tender of, 85-86
Minor coins, redemption of, 84; legal tender of, 86
Mint, charges at, 69-70; tolerance
of, 71; of United States, 73 Monetary unit (see Pecuniary unit) Money, as store of value, 42; and
business organization, 43-44; use in production, 43-45; and war
« AnteriorContinuar » |