Selling Latin America

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Monograph

Identifikator:: 101030657X

URN:: urn:nbn:de:zbw-retromon-41609

Document type:: Monograph

Author:: Aughinbaugh, William E.

Title:: Selling Latin America

Place of publication:: Boston

Publisher:: Small, Maynard & Company Publishers

Year of publication:: 1915

Scope:: 1 Online-Ressource (VI, 408 Seiten)

Digitisation:: 2018

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

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Document type:: Monograph

Structure type:: Chapter

Title:: XXV. Finance and credits

Collection:: Economics Books

FINANCE AND CREDITS 295 indebtedness. Very naturally a better price is quoted for the money required if payment is to be made in coin of the bank’s national ity for the reason that it necessitates less actual movement in the medium of exchange, the en tire transaction as a rule being done on paper. This preliminary saving of a fraction of a per cent, in a big business means much in the course of a year and it has a strong tendency to make the buyer seek markets so situated that he might profit thereby. On the other hand the Latin American trader desiring to remit to the United States for goods bought in this country is forced because of lack of direct financial connection in South America to buy his exchange on London, Hamburg, Paris or some other European money center, thereby giving the European banker a profit of a frac tion of a per cent, on every dollar of our for eign business. Furthermore, invoices and bills of lading are frequently attached to banking documents for custom house clearance and other purposes, thereby giving the Eu ropean banker and through him, his clients

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