The London Money Market: A Practical Guide to what it Is, where it Is, and the Operations Conducted in it |
Other editions - View all
The London Money Market: A Practical Guide to What It Is, Where It Is, and ... William Frederick Spalding No preview available - 2018 |
The London Money Market: A Practical Guide to What It Is Where It Is and the ... William F. Spalding No preview available - 2017 |
The London Money Market: A Practical Guide to What It Is, Where It Is, and ... William Frederick Spalding No preview available - 2017 |
Common terms and phrases
accepted acceptor advances amount balances Bank Charter Act bank notes Bank of England Bank Rate Bank's Banking Department bill brokers bills of exchange borrowers British capital cash cent chapter charge cheques City editor clearing banks Clearing House Coinage Act colonial banks currency notes Debt demand discount houses discount market discounting bills Exchequer export foreign and colonial foreign centres Foreign Exchange gold and silver goldsmiths Government increase Issue Department J. B. Martin joint stock banks July lend liabilities Lombard Street London bankers London market London Money Market maturity ment merchants millesimal fineness Notes Issued open market operations paid payable payment period practice Public Deposits purchase quotation rate of discount rate of interest received represent reserve Royal Mint securities sell short loan fund short notice silver bullion Silver Coin Stock Exchange tender tion trade Treasury Bills usually week
Popular passages
Page 185 - Majesty's Government reserve it to themselves to recommend, if they should see fit, the imposition of a higher rate. After deduction, by the Bank, of whatever it may consider to be a fair charge for its risk, expense, and trouble, the profits of these advances will accrue to the public.
Page 16 - This bank received both foreign coin, and the light and worn coin of the country, at its real intrinsic value in the good standard money of the country, deducting only so much as was necessary for defraying the expense of coinage, and the other necessary expense of management. For the value which remained, after this small deduction was made, it gave a credit in its books. This credit was called bank money...
Page 30 - I know, there is not a company or corporation in England called bankers, nor has the business any definition or description either by common law or by statute. By custom we call a man a banker who has an open shop, with proper counters, servants, and books, for receiving other people's money, in order to keep it safe, and return it upon demand ; and when any man has opened such a shop, we call him a banker, without inquiring whether any man has given him money to keep...
Page 207 - ... for a term not exceeding two years, or to both such fine and imprisonment...
Page 77 - When the exchanges were favourable, gold flowed freely into this country and an increase of legal tender money accompanied the development of trade. When the balance of trade was unfavourable and the exchanges were adverse, it became profitable to export gold. The would-be exporter bought his gold from the Bank of England and paid for it by a cheque on his account. The Bank obtained the gold from the Issue Department in exchange for notes taken out of its banking reserve, with the result that its...
Page 36 - An Act to regulate the Issue of Bank Notes, and for giving to the Governor and Company of the Bank of England certain Privileges for a limited Period.
Page 206 - Kingdom, the Dominion of Canada, the Commonwealth of Australia, the Dominion of New Zealand, the Union of South Africa, the Irish Free State and Newfoundland...
Page xv - And further, by these, my son, be admonished : of making many books there is no end ; and much study is a weariness of the flesh.
Page 33 - An act for granting to their Majesties several duties upon tonnagex>f ships and vessels, and upon beer, ale, and other liquors, for securing certain recompenses and advantages in the said act mentioned, to such persons as shall voluntarily advance the sum of fifteen hundred thousand pounds, towards carrying on the war with France.
Page 78 - Department in exchange for notes taken out of its banking reserve, with the result that its liabilities to depositors and its banking reserve were reduced by an equal amount, and the ratio of reserve to liabilities consequently fell. If the process was repeated sufficiently often to reduce the ratio in a degree considered dangerous, the Bank raised its rate of discount. The raising of the discount rate had...