The Rationale of Market FluctuationsE. Wilson, 1876 - 186 pàgines |
Frases i termes més freqüents
acceptors Alexander Collie America amount bales Bank of England Bank of France Bank rate become bill brokers borrowed bought branch bank bullion buyers capital Carlist cash caused cent cheques commercial commodities consequence consols cotton currency dealers debt deposits depression discount houses districts dividend drain effect exports extent failures fall firm fluctuations foreign loans Franco-Austrian war French Germany gold Government harvest Honduras increased India inflation influence instance investment investors July legislation lend lenders less London long bills loss manufactures market price market value Messrs money market obtain occurred organisation p. c. Market rate paid panic paper dollars Paris Paris Bourse payments pig iron produce profit purchases rate of interest reaction real money realise reserve rise Russia securities sell seller silver sold South Wales speculative steady Stock Exchange supply tion traffic transactions value of money wages wheat دو
Passatges populars
Pàgina 63 - ... half times as valuable as they were in 1809. Since 1849 the value of gold has again fallen to the extent of at least 20 per cent.; and a careful study of the fluctuations of prices, as shown either in the Annual Eeviews of Trade of the Economist newspaper, or in the paper referred to above, shows that fluctuations of from 10 to 25 per cent. occur in every credit cycle.
Pàgina 50 - There is no contract, public or private, — no engagement, national or individual, which is unaffected by it. The enterprises of commerce, the profits of trade, the arrangements made in all the domestic relations of society, the wages of labour, pecuniary transactions of the highest amount and of the lowest, the payment of the national debt, the provision for the national expenditure, the command which the coin of the smallest denomination has over the necessaries of life, are all affected by the...
Pàgina 46 - If a merchant have £10,000 at his banker's, and wants to pay it to some one in Germany, he will not be able to pay it unless his banker can pay him, and the banker will not be able to pay if the Bank of England should be in difficulties and cannot produce his
Pàgina 81 - The note of the Bank of France has not indeed been depreciated enough to disorder ordinary transactions : but any depreciation, however small, — even the liability to depreciation without its reality, — is enough to disorder exchange transactions ; they are calculated to such an extremity of fineness that the change of a decimal may be fatal, and may turn a profit into a loss. Accordingly, London has become the sole great settling-house of exchange transactions in Europe, instead of being [as]...
Pàgina 81 - Formerly for many purposes Paris was a European settling-house, but now it has ceased to be so. The note of the Bank of France has not indeed been depreciated enough to disorder ordinary transactions. But any depreciation, however small-- even the liability to depreciation without its reality—is enough to disorder exchange transactions.
Pàgina 73 - ENUMERATION OF THE VARIOUS ELEMENTS OF VALUE WHICH DETERMINE THE FLUCTUATIONS IN THE PRICES OF FOREIGN BILLS. WHEN the Foreign Exchanges are in actual operation, and adjustments of accounts are taking place between different countries, it appears at once that, though the purchase and sale of foreign bills originally represent a simple transfer of debts, and thus, at first sight, seem to exclude the idea of varying prices, the value of these bills is, nevertheless, in a state of constant fluctuation.
Pàgina 35 - ... composed of good cotton upon the exterior and decidedly inferior cotton in the interior, in such manner as not to be detected by customary examination, or (4) containing pickings or linters worked into the bale.
Pàgina 63 - From 1809 to 1849 it rose again in the extraordinary ratio of 100 to 245, or by 145 per cent., rendering government annuities and all fixed payments, extending over this period, almost two and a half times as valuable as they were in 1809.
Pàgina 76 - On the other hand, the extent to which the solvency and credit of the drawer, as well as of the acceptor, of a bill, affects the value of that bill, and consequently the rate of exchange at which it will sell, does not require much elucidation. Firms of first-rate standing are said, in technical language, to " make the best exchanges." The price which is paid to a merchant of undoubted position for his sixty days...
Pàgina 81 - Europe, instead of being [as] formerly one of two; and this pre-eminence London will probably maintain, for it is a natural pre-eminence. The number of mercantile bills drawn upon London incalculably surpasses those drawn on any other European city ; London is the place which receives more than any other place and pays more than any other place, and therefore it is the natural "clearing-house.