The work of the Stock Exchange

Bibliographic data

Monograph

Identifikator:: 1831284952

URN:: urn:nbn:de:zbw-retromon-225876

Document type:: Monograph

Author:: Meeker, James Edward http://d-nb.info/gnd/126597340

Title:: The work of the Stock Exchange

Edition:: Revised edition

Place of publication:: New York

Publisher:: The Ronald Press Company

Year of publication:: [1930]

Scope:: XVI, 720 Seiten; Illustrationen, Diagramme

Digitisation:: 2022

Collection:: Economics Books

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

APPENDIX CHAPTER 1 The Evolution of Securities (Ia) Very complete historical data upon the early governmental financing in Antwerp can be found in “Capital and Finance in the Age of the Renaissance,” by Richard Ehrenberg. (Ib) The continual growth of the British national debt through recurrent warfare is shown in the following table, taken from “The Political Economy of War,” by F. W. Hirst, and from “National Debt Return” (1020), Cmd. 429: Date Total Debt 1689 £ 1697 1702 1713 1739 1748 1756 1763 1775 1783 1793 1816 1854 1857 1899 1903 1914 1919 664,000 21,515,000 16,394,000 52,145,000 47,954,000 79,293,000 74,332,000 138,865,000 128,584,000 249,851,000 244,118,000 885,000,000 803,000,000 836,000,000 635,000,000 798,000, 000 706,000, 000 7.481.000. 000 Historical Events Revolution—Parliament obtained financial control. War of League of Augsburg added.... £ 20,851,000— 8 years Yeace reduced debt by ......... . 5,121,000— S years Var of Spanish Succession added. 35,751,000—11 years Jeace reduced debt by ......... 4,190,000—26 years Var of Jenkins’ Ears added..... 31,339,000— 9 years Jeace reduced debt by ...... 4,961,000— 8 years Jeven Years’ War added. 64,533,000— 7 years Yeace reduced debt by.. 10,281,000—12 years imerican War added. . 121,267,000— 8 years Yeace reduced debt by. . 5.733,000—10 years Napoleonic Wars added 540,882,000—23 years eace reduced debt by 82,000,000—38 vears >rimean War added. .. 33,000,000— 3 years Peace reduced debt by... 201,000,000—42 years 3oer War added....... .. . ... _. 163.000,000— 4 years Peace reduced debt by .............. 92,000,000—11 years Var 1914-1918 added..... ieee... 6,775,000,000— 4 years (Ic) “We have entirely lost the idea that any undertaking likely to pay, and seen to be likely, can perish for want of money; yet no idea was more familiar to our ancestors, or is more common now in most countries. A citizen of London in Queen Elizabeth’s time could not have imagined our state of mind. He would have thought it was of no use inventing railways (if he could have understood what a railway meant), for you would not have been able to collect the capital with which to make them. At this moment, in colonies and all rude countries, there is no large sum of transferable money, and there is no fund from which you can borrow and out of which you can make immense works. Taking the world as a whole—either now

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