The Decline of Inland Bills of Exchange in the London Money Market 1855-1913

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Cambridge University Press, Jul 2, 1971 - Business & Economics - 134 pages
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This 1971 book reviews and criticises the widely accepted hypothesis that the decline of the inland bill of exchange in Britain in the nineteenth century was largely due to the process of bank amalgamation, which linked bank branches in areas of excess demand for money with branches having surplus funds. Dr Nishimura argues that the introduction of the telegraph and steamship in the last quarter of the nineteenth century, by making both supply and demand more certain, relieved the merchant of the necessity to hold large stocks of goods in anticipation of orders. This book will be useful for other researchers in this field.
 

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Contents

AVERAGE USANCE OF BILLS
26
REDISCOUNTS OF BILLS BY LOCAL BANKS
44
BANK OVERDRAFTS AND CASH PAYMENT
55
TABLES
61
SOME CONSEQUENCES OF THE DECLINE OF INLAND
65
CONCLUSIONS
77
Number of bank offices in England and Wales 18551913 page
80
Banks with more than 100 offices 18741913
84
Estimated amounts of bills 187182
93
Estimated proportions of foreign bills 187182
94
Net national income and amounts of bills 18551913
95
Unlapsed currency of bills held by Parrs Bank and Liverpool Union Bank
97
Nineyear moving average of unlapsed currency of bills held by Liverpool Union Bank and Parrs Bank
98
Rediscounted bills and other items of balancesheets of Liverpool Commercial Banking Co and NorthWestern Bank
99
Assets and liabilities of banks in Liverpool main items 186483
106
Advances plus discountsdeposits ratios of banks in England and Wales 18971913 no 28 Market rates of discount of three months bank bills 18551913
112

Scale of stamp duties on bills of exchange and promissory notes
86
Amounts of bills drawn in Great Britain estimated by Newmarch
87
The rate of stamp duty on bills of exchange and promissory notes 10 October 185431 December 1870
88
Summary result of analysis of 1400 inland bills collected by Palgrave
89
Estimated amounts of bills drawn 185670 by Palgrave
90
The rate of stamp duty on bills of exchange and promissory notes 1 January 18711914
92
Rates of interest in Paris New York and Berlin and their differentials from London market rates of discount 18611913
113
Rates of interest monthly averages
114
Figures
129
Nineyear moving average of unlapsed currency of bills held by Parrs Bank and Liverpool Union Bank
130
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