Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
1Activity
0 of .
Results for:
No results containing your search query
P. 1
Anon - A Twentieth Century Economic System (1943)

Anon - A Twentieth Century Economic System (1943)

Ratings: (0)|Views: 6|Likes:
Published by bookbender
CONTENTS
PAGE
INTRODUCTION 5
PART I. An Appreciation of the Economic
Problems after the War:
(a) The Short-Term Position ... 10
(b) The Long-Term Position ... 12
Summary ... ... 24
PART II. Constructive Proposals:
(a) International System 27
(b) Internal System 37
Summary 55


"SUMMARY: Internal System:

11. In a progressive society there is an annual
increase in the total output of goods and services
which necessitates a corresponding increase in
the total issue of purchasing media unless prices
are to fall. It is this annual increase in the
total of purchasing media which, it is submitted,
should be spent into existence by the State without
any capital debt or interest charge, instead of being
lent into existence by the private banking system.
(Par. (56).)
12. The reform referred to in the above paragraph
would afford a means of stopping a fall
in prices and would also solve the problem of
unemployment. The measures necessary to give
effect to it are set out in paragraph (57)."


Governor Eccles, President of the Federal Reserve Bank of the United States :
" The Banks can create and destroy money. Bank credit is money. It is the money we do most of our business with, not with that currency which we usually think of as money."

Mr. R. G. Hawtrey, a prominent economist and one of the chief officials of the Treasury :
" When a bank lends it creates money out of nothing."

Mr. J. M. Keynes, the well-known economist:
" There can be no doubt that all deposits are created by the banks."

The Encyclopaedia Britannica (14th edition) :
" Banks create credit. It is a mistake to suppose that bank credit is created to any important extent by the payment of money into the banks. A loan made by a bank is a clear addition to the amount of money in the community."

CONTENTS
PAGE
INTRODUCTION 5
PART I. An Appreciation of the Economic
Problems after the War:
(a) The Short-Term Position ... 10
(b) The Long-Term Position ... 12
Summary ... ... 24
PART II. Constructive Proposals:
(a) International System 27
(b) Internal System 37
Summary 55


"SUMMARY: Internal System:

11. In a progressive society there is an annual
increase in the total output of goods and services
which necessitates a corresponding increase in
the total issue of purchasing media unless prices
are to fall. It is this annual increase in the
total of purchasing media which, it is submitted,
should be spent into existence by the State without
any capital debt or interest charge, instead of being
lent into existence by the private banking system.
(Par. (56).)
12. The reform referred to in the above paragraph
would afford a means of stopping a fall
in prices and would also solve the problem of
unemployment. The measures necessary to give
effect to it are set out in paragraph (57)."


Governor Eccles, President of the Federal Reserve Bank of the United States :
" The Banks can create and destroy money. Bank credit is money. It is the money we do most of our business with, not with that currency which we usually think of as money."

Mr. R. G. Hawtrey, a prominent economist and one of the chief officials of the Treasury :
" When a bank lends it creates money out of nothing."

Mr. J. M. Keynes, the well-known economist:
" There can be no doubt that all deposits are created by the banks."

The Encyclopaedia Britannica (14th edition) :
" Banks create credit. It is a mistake to suppose that bank credit is created to any important extent by the payment of money into the banks. A loan made by a bank is a clear addition to the amount of money in the community."

More info:

Published by: bookbender on Jan 12, 2013
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

04/18/2014

pdf

text

original

 
A
TWENTIETH
CENTURYECONOMICSYSTEM
The author has decided to remain anonymous, in the hope thathis fellow citizens will
Insist,
on
this
occasion, on doing their ownthinking, and will consider these proposals on their merits,uninfluenced by the names and reputations of the protagonists
on
either side.
 
First Edition (3,000) November, 1941
Second
Edition (5,000)
December,
1941Third Edition (4,000) February, 1942Fourth Edition (4,000) June, 1942Fifth Edition (4,000)
October,
1942
Sixth
Edition (3,000) July, 1943

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->