The law of friendly societies, and industrial and provident societies, with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index

The work of the Stock Exchange

Bibliographic data

Monograph

Identifikator:: 875232663

URN:: urn:nbn:de:zbw-retromon-2698

Document type:: Monograph

Title:: The law of friendly societies, and industrial and provident societies, with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index

Place of publication:: with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index$gTenth edition, revised and enlarged

Publisher:: Shaw and Sons

Year of publication:: 1881

Scope:: 1 Online-Ressource (XII, 303 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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

Index

Document type:: Monograph

Structure type:: Index

Title:: Index

Collection:: Economics Books

342 APPENDIX quimbo, Huasco, San Antonio, Santiago, Serena, Talca, Talcuhuano, Tome, Valparaiso; Peru, Lima; Uruguay, Montevideo; Venezuela. Caracas. (IIb) U. S. Internal Revenue receipts from Federal taxes on stock transfers, and on sales of produce on exchanges (000 omitted) : NIQ Piscal Years Ending Tune 30 ae . Stock TRANSFERS U.S.A. New York Citv rn « 79¢ 012 671 ¢3¢ 7,888 8,165 8,808 ~ 105 ene 89.7 90.6 | 0.2 ~~ SALES oF PRODUCE ON EXCHANGES U.S.A. New York Citv NT C. | Chicago % Chicago ",52¢ 58¢ r?,521 1,378 025 845 ¢ 20.2 24.8 43.1 50.9 HES $4,576 | 6C.8 3.107 | 55.9 2,250 | 32.0 1.446 | 19.1 -.804 | 51.9 “425 ' 57.9 647 57.1 960 48.4 456 43.6 L GE (IIc) In the “Agricultural Inquiry” of 1921 (pp. 684-686), the late Governor Strong of the New York Federal Reserve Bank testified: The security markets—that is, the markets through which the raising of new capital for the industries of the country is effected—are and must be the markets where the greatest amount of capital naturally gravitates; I mean that is the point where the flow of funds concentrates for the purpose of investment and reinvestment to a greater extent than in any other market in the country. That is especially true of the money centers of the world—London, Berlin, Tokyo—and I think also we must all recognize that it is not a man-made affair. It is a natural law, I think more primarily due to the fact that the great flow of foreign and domestic commerce of the United States is into and out of the port of New York than to any other factor. Representative Sumners. The theory, at least, of the economic function of the exchange is that it provides a meeting place for the persons who want to buy and the people who want to sell these securities? Governor Strong. Yes, sir. Representative Sumners. And the sales of the securities are found to be necessary from time to time in order to acquire the necessary capital for starting new enterprises and maintaining established enterprises, in develop- ing established enterprises? Governor Strong. It is an essential part of the machinery for purposes of that nature, if you please, and has contributed to the development of the resources of the country by the direction of the flow of capital into new enterprise. That is where the management, if you please, is undertaken, for a commission or for a brokerage, for this direction of the stream of savings of the Nation into new enterprises. . . . It is a significant fact that, since the earliest times, the tendency in trade has been continually for those people trading in certain things to group together, and in the bazaars of India today you will find all of the jewelry markets in one place, all of the silk in another, and all of the money

Access restriction

Copyright

Object: The work of the Stock Exchange

Monograph

Index

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation