El comercio y los comerciantes

The work of the Stock Exchange

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Monograph

Identifikator:: 870662961

URN:: urn:nbn:de:zbw-retromon-49543

Document type:: Monograph

Author:: Guyot, Yves; Urbano, Rafael

Title:: El comercio y los comerciantes

Place of publication:: Madrid

Publisher:: Jorro

Year of publication:: 1914

Scope:: 1 Online-Ressource (VII, 557 Seiten)

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Libro IV - La práctica del comercio

Collection:: Economics Books

582 REFERENCES FOR FURTHER STUDY Chapter XI. The Security Collateral Loan Market Consult Holdsworth, Langston, and Westerfield for general Ameri- can banking practice, and for the functional aspect of different banking laws, Waldo F. Mitchells’ small but significant study. As for the gov- ernmental inquiries and hearings, the call loan market played only an incidental part in the “Money Trust Investigation” and in “Regulation of the Stock Exchange.” Of late years, however, security loans have seen the chief source of governmental criticism of the stock market. Senate Document 262 contains a comprehensive description of call ioans by the Federal Reserve Board. The inner history of call loans during and immediately after the war will be found in the able testimony of Governor Benjamin Strong in the “Agricultural In- quiry” (pp. 450-814), and subsequently in the “Stabilization” hearings (pp. 290, 316, 349, 421, 464, 519) and the subsequent 1928 hearings (pp. 12-21, 386). The latest hearings of this sort have been those apon the La Follette resolution, in which will be found the testimony of Professor Sprague (p. 31). For descriptive material on the pre-war call loan market, the reader should consult the testimony of Turner and Griesel in the “Money Trust” hearings, and also Hollander, Milburn, White, and Norton. The unpublished address of W. W. Atterbury is also informative. Pratt and Huebner describe general post-war conditions. Griffiss’ little study is very useful. The Stock Exchange attitude has been expressed by President Simmons in his addresses at St. Petersburg (1925), Cin- cinnati (1927), Chicago (1929), Manchester (1929), and Norfolk (1929). Lawrence’s “Wall Street and Washington” is pugnacious yet realistic and detailed. Writers on the Federal Reserve system have usually side-stepped the question of call loans, either because they are not rediscountable or becuse they are so controversial; Burgess, however, is excellent as far as he goes. Anderson’s 1921 study is illuminating in regard to functions of call loans during 1920. Specific information concerning “Lombard” or other security col- lateral loans abroad is surprisingly difficult to obtain; it is omitted or minimized in most European works upon general banking. In respect to the latter, however, it is worth while reading for background Willis and Beckhart, Withers, Liesse, Patron. and the Reichsbank rechart- ering material. Respecting term settlements, the only American material consists of Streit’s pamphlet and the author’s subsequent and extensive study. Term settlement loans in London are described by Butterworth; in France bv Dufourmantelle: in Germanv bv Aschenbrenner, Schmidt,

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