Selling Latin America

Bibliographic data

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.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: XXV. Finance and credits

Collection:: Economics Books

FINANCE AND CREDITS 303 the time agreed upon for payment, according to the terms of the sale. Compare this perfect system of the banks extending courtesy to the exporters and the importers with the Ameri can policy of “cash against documents” and we see another vital reason why the Europeans succeeded in their conquest of these markets. The American manufacturer with small capi tal was handicapped. His business demanded a quick turn-over; he had no way of ascertain ing Latin American credits and no American banking connections to accept his export ship ping documents at a discount. As a conse quence, the door of this trade was closed to him and his productions. Owing to the fact that gold coin is bulky and heavy to transport and paper money of a foreign nation always worth as a rule much less than its face value, a traveler is accus tomed to carry what is known as a Letter of Credit. This is a document issued by a bank to a person or concern authorizing him or it to draw on the bank or its correspondents drafts for the whole or any desired part of the sum

Access restriction

Copyright

fullscreen: Selling Latin America

Monograph

Chapter

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation