Author: Great Britain. Parliament. House of Commons. Secret Committee on the Expediency of the Bank Resuming Cash Payments
Publisher:
ISBN:
Category : Currency question
Languages : en
Pages : 388

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Author: Simon Sherratt
Publisher: Routledge
ISBN: 1000214125
Category : Business & Economics
Languages : en
Pages : 229

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Book Description
This book reveals the surprising role that credit, money created ex nihilo by financiers, played in raising the British government’s war loans between 1793 and 1815. Using often overlooked contemporary objections to the National Debt a startling paradox is revealed as it is shown how the government’s ostensible creditors had, in fact, very little "real" money to lend and were instead often reliant for their own solvency upon the very government they were lending to. By following the careers of unsuccessful loan-contractors, who went bankrupt lending to the government, to the triumphant career of the House of Rothschild; who successfully "exported" the British system of war-financing abroad with the coming of peace, the symbiotic relationship that existed between the British government and their ostensible creditors is revealed. Also highlighted is the power granted to the (technically bankrupt) Bank of England over credit and the money supply, an unprecedented and highly influential development that filled many contemporaries with horror. This is a tale of bankruptcy, stock market manipulation, bribery and institutional corruption that continues to exert its influence today and will be of interest to anyone interested in government financing, debt and the origins of modern finance.

Author:
Publisher:
ISBN:
Category : Europe
Languages : en
Pages : 944

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Author: John Cunningham Wood
Publisher: Psychology Press
ISBN: 9780415087179
Category : Business & Economics
Languages : en
Pages : 424

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These volumes complete the project of the earlier assessments by making available the many major articles which have appeared subsequently, including the different re-interpretations by Piero Sraffa, Paul Samuelson and Samuel Hollander.

Author: Mark Duckenfield
Publisher: Routledge
ISBN: 1315476126
Category : Business & Economics
Languages : en
Pages : 557

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Book Description
This title presents a collection of documents relating to the monetary history of gold from the 17th century up to the present, covering specifically the rise of the gold standard, its heyday, and the period following.

Author: William Stanley Jevons
Publisher:
ISBN:
Category : Bimetallism
Languages : en
Pages : 552

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Author: William Stanley Jevons
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 524

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Author:
Publisher:
ISBN:
Category : Europe
Languages : en
Pages : 948

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Author: Great Britain. Parliament. House of Commons
Publisher:
ISBN:
Category : Great Britain
Languages : en
Pages : 552

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Author: John H. Wood
Publisher: Routledge
ISBN: 1317704312
Category : Business & Economics
Languages : en
Pages : 288

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Book Description
The Federal Reserve System, which has been Congress’s agent for the control of money since 1913, has a mixed reputation. Its errors have been huge. It was the principal cause of the Great Depression of the 1930s and the inflation of the 1970s, and participated in the massive bailouts of financial institutions at taxpayers' expense during the recent Great Recession. This book is a study of the causes of the Fed’s errors, with lessons for an improved monetary authority, beginning with an examination of the history of central banks, in which it is found that their performance depended on their incentives, as is to be expected of economic agents. An implication of these findings is that the Fed’s failings must be traced to its institutional independence, particularly of the public welfare. Consequently, its policies have been dictated by special interests: financial institutions who desire public support without meaningful regulation, as well as presidents and those portions of Congress desiring growing government financed by inflation. Monetary stability (which used to be thought the primary purpose of central banks) requires responsibility, meaning punishment for failure, instead of a remote and irresponsible (to the public) agency such as the Fed. It requires either private money motivated by profit or Congress disciplined by the electoral system as before 1913. Change involving the least disturbance to the system suggests the latter.