The purpose of this book is to supply the general reader with a simple statement of the principles and problems of banking. Since it is designed primarily for American readers, special attention has been given to conditions in this country. An effort has been made clearly to draw the line between commercial and investment banking and to indicate the problems peculiar to each. That it may assist the average person in understanding present-day banking problems and thus contribute towards the formation of a sound public opinion regarding them, is the author's hope and desire. Wm. A. Scott.
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In Europe the average man looks upon the bank as a benefactor. Through its agency Ghe secures capital at low rates for his business. .I nA merica the bank is too often regarded as a necessary evil, certainly not with affection. Yet it plays a most important role in the nations economy. Our banking laws are obsolete, unsatisfactory, and actually in some instances detrimental to the best and widest use of the nations resources. Europe has many lessons for us in the problem of how best to use our accumulations. With agriculture demanding and the railroads calling for more capital, the question of scientific banking assumes new proportions. This book, with its chapters on commercial and investment banking, will help to a better knowledge. RL.
(Typographical errors above are due to OCR software and don't occur in the book.)
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