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Stock Exchange Securities, an Essay on the General Causes of Fluctuations in Their Price

Stock Exchange Securities, an Essay on the General Causes of Fluctuations in Their Price


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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1877 Excerpt: ...A really first-class war will be certain to cause a creation of securities on a large scale. We know what has taken place in our own great wars, and the more recent experience of the United States and of France will be fresh in people's recollections. When war breaks out therefore, or is suddenly threatened, speculators know for certain that an event is at hand which will not only disturb the markets temporarily, but may absolutely defeat their speculation. A large creation of securities, as we have seen, tends to lower the price of every security, sometimes for a long period. The outbreak of a great war is also like the letting out of water of which no one can see the end. We have been accustomed to think G from the experience of the last twenty years in Europe, that wars will be short, although the experience of the American civil war was quite of a contrary kind. But speculators will hardly count on this, and with reason. They see that some wars have been very short in which one side has displayed from the beginning a greatly preponderating force, and has been able to occupy the central resources of the enemy. It does not follow that a war in which some accident prevents this preponderance of force being felt, or in which a third power suddenly intervenes, will be at all Bhort. If England had interfered in 1870 to prevent the final overthrow of France, it is quite possible that all Europe might still have been fighting just because we could have supplied France with an unassailable base. If an Eastern war should also break out in which England should be engaged, Europe might again be subjected to a prolonged struggle. Speculators justly fear, therefore, in every war, an indefinite creation of securities which completely upsets the calculation for the ris...


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Product Details
  • ISBN-13: 9781154857658
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 32
  • Spine Width: 2 mm
  • Width: 189 mm
  • ISBN-10: 1154857654
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 77 gr

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