Kommentar zum Gesetz über eine Kriegsabgabe von Vermögenszuwachs und zum Gesetz über eine außerordentliche Kriegsabgabe für das Rechnungsjahr 1919 vom 10. September 1919

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Identifikator:: 1016238525

URN:: urn:nbn:de:zbw-retromon-55274

Document type:: Monograph

Title:: Kommentar zum Gesetz über eine Kriegsabgabe von Vermögenszuwachs und zum Gesetz über eine außerordentliche Kriegsabgabe für das Rechnungsjahr 1919 vom 10. September 1919

Place of publication:: Berlin

Publisher:: Verlag von Otto Liebmann

Year of publication:: 1920

Scope:: 1 Online-Ressource (XXIII, 548 Seiten)

Collection:: Economics Books

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

FINANCE AND CREDITS 291 That this movement is judicious no one familiar with this trade will for a moment dispute. The ability of the British banks, through their strong financial arteries, gave them exceptional opportunities to force busi ness into the hands of English merchants, by obliging the seller of exchange, for example, in Buenos Aires on New York to pay from 1 per cent, to 1.5 per cent, more than if he sold on London, or if he desired to buy, to pay a correspondingly higher price for a draft on New York than on London. In addition to exerting thus their powers through a high rate of exchange to drive merchants into British markets, the profits in the transfer of money incident to the transaction were enormous. The truth of this statement is vividly apparent when we are told that in 1912, “bills on Lon don” valued at $9,025,000,000 were sold, on every penny of which a fraction of a per cent, of profit was made by English bankers. It is not deemed necessary for the purpose of this work to go into the intricacies of the banking problem in Latin America. Such in

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