The Project Gutenberg EBook of International Finance, by Hartley Withers

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Title: International Finance

Author: Hartley Withers

Release Date: April 3, 2004 [EBook #11774]

Language: English

Character set encoding: ASCII

*** START OF THIS PROJECT GUTENBERG EBOOK INTERNATIONAL FINANCE ***

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INTERNATIONAL FINANCE

BY

HARTLEY WITHERS

_BY THE SAME AUTHOR_.

OUR MONEY AND THE STATE,
SECOND IMPRESSION. 3s. net.

STOCKS AND SHARES. FIFTH IMPRESSION.
6s. net.

MONEY CHANGING: an Introduction to
Foreign Exchange,
THIRD EDITION. 6s. net.

THE MEANING OF MONEY.
FIFTEENTH IMPRESSION. 6s. net.

POVERTY AND WASTE. 6s. net.

WAR AND LOMBARD STREET.
THIRD EDITION. 3s. 6d. net.

INTERNATIONAL FINANCE. 6s, net.

INTERNATIONAL FINANCE

BY

HARTLEY WITHERS

"While man cannot live by bread alone.
he cannot go on living, even a good life
if he really falls short of bread."

PROF. J.L. MYERS.

_First Edition_ _May_, 1916.
_Reprinted_ _June_, 1918.

PREFACE

Responsibility for the appearance of this book--but not for its
contents--lies with the Council for the Study of International
Relations, which asked me to write one "explaining what the City really
does, why it is the centre of the world's Money Market," etc. In trying
to do so, I had to go over a good deal of ground that I had covered in
earlier efforts to throw light on the machinery of money and the Stock
Exchange; and the task was done amid many distractions, for which
readers must make as kindly allowance as they can.

HARTLEY WITHERS.

6, LINDEN GARDENS, W.
_March_, 1916.

CONTENTS

CHAPTER I

CAPITAL AND ITS REWARD

Finance the machinery of money-dealing--Lenders and borrowers--Capital
and its claim to reward--Stored-up work--Inherited wealth--The reward of
services--Questionable services--Charles the Second's dukedoms--Modern
equivalents--Workers and Savers

CHAPTER II

BANKING MACHINERY

Money at a bank--Bills of exchange--Finance and industry--Supremacy of
bill on London--London's freedom--The Bank