Quotes from Currency and Credit — Ralph George Hawtrey
1879–1975 England
← All quotes by Ralph George Hawtrey
3 quotes
By its means the banker creates the means of payment out of nothing, whereas when he receives a bag of money from his customer, one means of payment, a bank credit, is merely substituted for another, an equal amount of cash.
Currency and Credit (1919)
The total effective demand for commodities in the market is limited to the number of units of money of account that dealers are prepared to offer, and the number they are prepared to offer over any period of time is limited according to the number they hope to receive.
Currency and Credit (1919)
Indeed it would have been a mean-spirited course to go back on the century-old standard on account of so trifling a premium on gold, a premium which, as it turned out, the action of the market wiped out in a few months, before any of the provisions of the Act of 1819 had come into operation.
Currency and Credit (1919)