History Of The London Discount Market

by
Edition: 1st
Format: Hardcover
Pub. Date: 1972-07-01
Publisher(s): Routledge
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Table of Contents

The rise of the bill; brokers: growth of financial intermediaries
brokers as agents for country banks
bill broking in 1810
discount rates and the usury laws
the origin of Overend, Gurney & Co
Samuel Gurney comes to London
rapid spread of the bill broker system, 1810-25
widespread use of the domestic bill
The 1825 crisis and its results: the beginnings of joint stock banking
provincial joint stock bank re-discounts
early joint stock bank call loans
the bank of England branches
effects upon country bank re-discounting
discrimination against joint stock issuer's paper
the end of London bank re-discounting
Growth of central banking functions: early efforts at credit control
the policy of a "fixed and uniform" bank rate
the first "open market" operations
re-discount facilities for the bill market
abuse of bill credit in the '30s
advantages of the re-discounting system
Consequences of the act of 1844 - the bank's "new discounting" policy: theory of the act of 1844
competitive discounting by the bank
the principle of the "minimum" rate
steady growth of the bill market
the supremacy of Overend, Gurney
long usances and their abuse
bill market borrowing at the bank
Consequences of the act of 1844 - the crisis of 1847: the railway "mania"
bank's competition stimulates credit abuses
reckless lending - and its sequel
first suspension of the bank act
was the bank to blame?
bank's special power to influence rates
bank act controversy obscures the real issues
bank rate technique after 1847
an unconscious advance towards modern practice
The bank and the market - withdrawal of re-discount facilities: rapid growth of trade and of banking
expansion of the call loan system
"one-name" re-discounts
market call loans and reserve policy
reliance upon the bank - an over-trading
were the discount houses mis-judged?
the crisis of 1857
the bank closes market "discount" accounts
the practice of "keeping strong"
discount houses "versus" the bank
"intimidation"
The rise of the discount companies: discount companies in the leather crisis
boom in "financial" flotations
the national's new capital
the "triumph" of limited liability
collapse of the "corner house"
why did Gurney's fail?
liquidation of Overend, Gurney & Co, Ltd
supremacy of the national discount
discount companies from 1885 to 1913
Growth of the international money market: the mania for foreign loans
internationalization of commerce
decline of the domestic bill
the birth of the treasury bill
foreign balances and sensitivity
The moral supremacy of the bank of England: abandonment of the rule of "following" the market
deposit allowances and excessive competition
the "private and personal" rate of the bank of England
bank's struggle for mastery - ineffectiveness of bank rate in the '80s
the vigour of William Lidderdale
the Baring crisis and after
control regained - the effectiv
Table of Contents provided by Publisher. All Rights Reserved.

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