First published in 1951, The British Banking Mechanism seeks to enable the reader to obtain a real understanding of the British financial system as it operated back in the 1950s.The book shows how the traditional concept of the Bank of England as the supreme monetary authority controlling the volume of credit has to be modified now that the government, instead of private industry, is the chief borrower from the banking system. This book is of historical importance for scholars and students of banking history, British banking and British economics.
First published in 1951, The British Banking Mechanism seeks to enable the reader to obtain a real understanding of the British financial system as it operated back in the 1950s.This book is of historical importance for scholars and students of banking history, British banking and British economics.
Foreword
1. Some Fundamentals of Deposit Banking
2. The Pyramid of
Credit
3. The Basis of Credit
4. Some Fundamentals of Central Banking
5.
Bills and the Bill Market
6. Phases in Discount Market Evolution
7. Tap and
Tender
8. The Liquidity of Banking Assets
9. The Pre-War Assets Structure
10. The Technique of Insulation
11. The Note Issue Since 1939
12. Bank Rate
and its Workings
13. The Beginnings of Cheap Money
14. Deficit Finance
15.
Ultra-Cheap Money
16. The Return of Bank Rate
17. Postscript: From Crisis to
Crisis Appendix Index
W. Manning Dacey, Late Honorary Fellow of the London School of Economics, Economic Advisor, Lloyds Bank.
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