Banking Theory, 1870-1930: Banking


Book Description

This collection of rare texts from the mid nineteenth century shows how the principle of banking in England came to be established and accepted in the period when British banks achieved their greatest stability.




Banking Theory, 1870-1930: English practical banking


Book Description

This collection of rare texts from the mid nineteenth century shows how the principle of banking in England came to be established and accepted in the period when British banks achieved their greatest stability.







Banking Theory, 1870-1930: The amalgamation movement in English banking 1825-1925


Book Description

This collection of rare texts from the mid nineteenth century shows how the principle of banking in England came to be established and accepted in the period when British banks achieved their greatest stability.




Banking Theory, 1870-1930: The English banking system


Book Description

This collection of rare texts from the mid nineteenth century shows how the principle of banking in England came to be established and accepted in the period when British banks achieved their greatest stability.




Banking Theory, 1870-1930: The country banker


Book Description

This collection of rare texts from the mid nineteenth century shows how the principle of banking in England came to be established and accepted in the period when British banks achieved their greatest stability.




Remembering and Learning from Financial Crises


Book Description

The chapters in this book reflect on people's relationships with past financial crises - from public opinion to business leaders and policy makers. In connection with financial crises, Remembering and Learning from Financial Crises addresses three fundamental questions: first, are financial crises remembered, and if so how? Second, have lessons been drawn from past financial crises? And third, have past experiences been used in order to make practical decisions when confronted with a new crisis? These questions are of course related, yet they have been approached from different historical perspectives, using methodologies borrowed from different academic disciplines. One of the objectives of this book is to explore how these approaches can complement each other in order to better understand the relationships between remembering and learning from financial crises and how the past is used by financial institutions. It thus recognises financial crisis as a recurring phenomenon and addresses the impact that this has in a range of public and policy contexts.




Banking Theory, 1870-1930: The principles and practice of banking


Book Description

This collection of rare texts from the mid nineteenth century shows how the principle of banking in England came to be established and accepted in the period when British banks achieved their greatest stability.




Respectable Banking


Book Description

The financial collapse of 2007–8 has questioned our assumptions about the underlying basis for stability in the financial system, and Anthony Hotson here offers an important reassessment of the development of London's money and credit markets since the great currency crisis of 1695. He shows how this period has seen a series of intermittent financial crises interspersed with successive attempts to find ways and means of stabilizing the system. He emphasises, in particular, the importance of various principles of sound banking practice, developed in the late nineteenth century, that helped to stabilize London's money and credit markets. He shows how these principles informed a range of market practices that limited aggressive forms of funding, and discouraged speculative lending. A tendency to downplay the importance of these regulatory practices encouraged a degree of complacency about their removal, with consequences right through to the present day.




The Chicago Plan Revisited


Book Description

At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.