The work of the Stock Exchange

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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

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter II. Organized security markets and their economic functions

Collection:: Economics Books

59 preliminary steps in this direction can already be seen. Every year the marketing of all manner of goods and services is being investigated in a more thorough and scientific spirit. During recent years, several new commodity exchanges have been established in New York and elsewhere. Farmers, too, are everywhere experimenting to effect improved markets for pro- duce of various sorts. Some commodities, either because they are perishable or difficult to standardize, may never develop markets of the most completely organized type. Yet for many other commodities, it is not unlikely that organized exchanges will spring up during the next hundred years. Our present exchanges, whether in commodities or securities, seem likewise destined to experience a steady growth in the volume of their annual turnover, and a more delicate adjustment of their inter- nal mechanism. ORGANIZED SECURITY MARKETS The United States and the World’s Markets.—Secondly, it also seems inevitable that as time goes on, competition be- tween exchanges of like character in various parts of the world will be intensified by the remarkably rapid strides which are now being taken to perfect speed in communication and trans- portation. As a result, single exchanges more internationally dominant than at present will emerge. The location of such leading world exchanges will depend chiefly upon three dif- ferent factors—nearness to the main center of supply, nearness to the main center of demand, and nearness to the money mar- kets which enable surplus production to be carried into con- sumption. Americans can face this probable future evolution with equanimity. When the splendid natural resources of this country, its high standard of living, the vast consumptive de- mands of its mighty and constantly mounting population, and the rapid development of its money centers—particularly, of course, in New York—are remembered, it seems altogether likely that many of the internationally dominant exchanges of future years will be found within the United States.

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