Book Description

Excerpt from A Graded Banking System Formed by the Incorporation of Clearing Houses Under a Federal Law: With Power to Issue a Clearing House Currency Secured by Pledge of Bank Assets The Object of the discussion in this book is to point out the inherent weakness of an ungraded banking system, by which forced liquidations and resulting panic are the legal methods for preserv ing solvency, and to offer a remedy in a graded system formed by the incorporation of clearing houses under a general federal law with power to issue a clearing house currency, as a means to secure stability and to prevent panics. The efiort also is made to show the harmony Of a graded system with the political principles of our country. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.