Modern Banking: Commercial and Credit Paper (In Five Parts), Vol. 1 of 5 (Classic Reprint)

Introductory The plan in Part I of the book is to review, first, the simple procedure in banking and credits; their development; their relation to the subject of money, and to give an analysis of the meaning and utility of credit. A treatise on the banking system of the United States before the adoption of the Federal Reserve System is given for the purpose of drawing a comparison with the Federal Reserve System following. The principles and operation of the Federal Reserve are briefly but interestingly outlined in their particular relation to commercial banking practice and to the rapidly growing American discount market. The banking and credit systems of England, France and Germany should be found very helpful and of interest to the study and to the application of the acceptance method in commercial banking and credit practice. Part II treats of the trade and bank acceptance and their importance to modern day commerce and finance. Therein are reviewed many important topics comparatively new to American banking and business. American credit and finance, its practical utility in the conduct of American business, its advantages to the buyer, seller, retailer, banker, investor and to the national interest, the American discount market, discount corporations, expressions and opinions by specialists on the acceptance method, and general conclusions as to the need for co-operation by all interests concerned, are the main features of Part the Second. The operation of bank acceptances, dollar credits, investments and other topics, as for instance, Procedure in the Use of Acceptances, Plans, Publicity, etc. should prove of interest. By far the most important improvement in commercial banking practice has been the equal development of standardized commercial paper, principally the t