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About the Book

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. 1908 Excerpt: ...not have lasted long, even if the war had not occurred. But there has been a serious fall, and one which has affected all the better class of securities. I think I ought to take this opportunity of giving what I conceive to be the explanation. It is not far to seek, and it has nothing whatever to do, I venture to submit, with the misdoings, actual or imagined, of his Majesty's present advisers. We have seen in recent years enormous additions, due not only to the war, but also to other causes, to the liabilities both of the State and of the municipalities; the admission of Colonial stocks to the extent of something like 300,000,000 sterling to the category of trust investments; abnormal activity leading to higher wages and higher prices in almost every form of business both at home and abroad; catastrophes in North and South America which have brought about a considerable destruction of insured property, much of which had to be replaced by the realisation of gilt-edged securities; and gigantic speculations in shares and the issue of new obligations whicn have been going on upon the other side of the Atlantic. Take all these causes into account, following as they have done an exceptional drain upon the whole fabrics of currency and of credit, and operating as they were bound to do with converging force here in London, which is the only free and open market for gold, and you have more than sufficient reason to account for the low level of price in the best class of security. Debt Reduction a Paramount Duty. These patriotic gentlemen to whom I referred a few moments ago might, I think, find some better occupation both for their tongues and their pens than trying to disparage and belittle the credit of their country, which still, when all is said and done, ...


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Product Details
  • ISBN-13: 9781236145420
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 186
  • Spine Width: 10 mm
  • Width: 189 mm
  • ISBN-10: 1236145429
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 340 gr


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