Reports of Committees and Discussions Theron; Patents AMD Trade-Marks. Extradition of Criminals. International American Monetary Union. International

Reports of Committees and Discussions Theron; Patents AMD Trade-Marks. Extradition of Criminals. International American Monetary Union. International

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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. 1890 edition. Excerpt: ...reached the conclusion that, in the first place, in order to fulfill its duties it should recommend the establishment of banks. But the establishment of banks, naturally, needed capital. In which of the American nations was it easiest to find capital? The reply was simple--in the United States. But it is necessary that the establishment of this bank should not be limited to the United States. Then establish a bank in this country, with branches in the others. We reached this point, then naturally we asked ourselves if there was any necessity for such a bank. The honorable delegate from Chili has declared with much reason that banks are the result of the existence of mercantile operations. We agree perfectly with the conclusions of the honorable delegate from Chili, and we find that the transactions between the United States and the other countries situated to the south of this nation amount more or less to $280,000,000 annually. If this amount is increased there will be ample field for banking operations. We then ask ourselves, how is it that in this condition of affairs no banks exist in this country which are especially engaged in commercial affairs between this country and those south of it? We find that under the laws of this country there are serious embarrassments in the way of the establishment of a bank which would devote its operations exclusively to foreign exchanges. It is true, as has been stated by the honorable delegate from Chili, that in 1857, or before the war of the rebellion, as it is called in this country, there existed great latitude in banking legislation, but it was afterwards restricted to domestic operations. Why? Because the domestic trade represented 95 per cent, of the commerce of the world: the 5 per cent, was lost...show more

Product details

  • Paperback | 198 pages
  • 189 x 246 x 11mm | 363g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236676203
  • 9781236676207