( This is a reproduction of a book published before 1923....)
This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book. ++++ The below data was compiled from various identification fields in the bibliographic record of this title. This data is provided as an additional tool in helping to ensure edition identification: ++++ A Modified Central Bank Of Issue: A Suggestion Of A Bill Paul Moritz Warburg Business & Economics; Banks & Banking; Business & Economics / Banks & Banking; National banks (United States)
https://www.amazon.com/Modified-Central-Bank-Issue-Suggestion/dp/129448186X?SubscriptionId=AKIAJRRWTH346WSPOAFQ&tag=prabook-20&linkCode=sp1&camp=2025&creative=165953&creativeASIN=129448186X
(By Paul M. Warburg. If banks were to keep, in cash, all t...)
By Paul M. Warburg. If banks were to keep, in cash, all the money deposited with them, business would come to a standstill and a crisis would ensue. If banks were to lend to those who apply for loans all the money on deposit with them, a general panic and collapse would follow a short period of overstimulation. Between these two extremes lies the middle course, the finding of which is the problem, and its practice the art of banking. No mathematical rule can state the correct proportion between reserves and demand obhgations. The proper solution of this question depends in each country on its varying political and economic conditions and on its financial system. This general principle, however, may be safely laid down: with the present system of immense deposits payable on demand, and, by right, payable in gold, at the option of the payee, only that structure is safe and efficient which provides for effective concentration of cash reserves and their freest use in case of need, and enables the banks, when necessary, to turn into cash a maximum of their assets with a minimum of disturbance to general conditions. (Typographical errors above are due to OCR software and don't occur in the book.) About the Publisher Forgotten Books is a publisher of historical writings, such as: Philosophy, Classics, Science, Religion, History, Folklore and Mythology. Forgotten Books' Classic Reprint Series utilizes the latest technology to regenerate facsimiles of historically important writings. Careful attention has been made to accurately preserve the original format of each page whilst digitally enhancing the aged text. Read books online for free at www.forgottenbooks.org
https://www.amazon.com/Discount-System-Europe-Classic-Reprint/dp/B008P5VCEA?SubscriptionId=AKIAJRRWTH346WSPOAFQ&tag=prabook-20&linkCode=sp1&camp=2025&creative=165953&creativeASIN=B008P5VCEA
(Excerpt from Essays on Banking Reform in the United State...)
Excerpt from Essays on Banking Reform in the United States In many minor respects also the Federal Reserve Act differs from the Aldrich bill; but in the two fundamentals of combined reserves and of a discount policy, the Federal Reserve Act has frankly accepted the principles of the Aldrich bill; and these principles, as has been stated, were the creation of Mr. Warburg and of Mr. Warburg alone. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
https://www.amazon.com/Essays-Banking-Reform-Classic-Reprint/dp/0656480270?SubscriptionId=AKIAJRRWTH346WSPOAFQ&tag=prabook-20&linkCode=sp1&camp=2025&creative=165953&creativeASIN=0656480270
(This scarce antiquarian book is a facsimile reprint of th...)
This scarce antiquarian book is a facsimile reprint of the original. Due to its age, it may contain imperfections such as marks, notations, marginalia and flawed pages. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions that are true to the original work.
https://www.amazon.com/Plan-Modified-Central-Bank/dp/1120126126?SubscriptionId=AKIAJRRWTH346WSPOAFQ&tag=prabook-20&linkCode=sp1&camp=2025&creative=165953&creativeASIN=1120126126
(This scarce antiquarian book is a facsimile reprint of th...)
This scarce antiquarian book is a facsimile reprint of the original. Due to its age, it may contain imperfections such as marks, notations, marginalia and flawed pages. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions that are true to the original work.
https://www.amazon.com/Federal-Reserve-System-Banks/dp/1169551491?SubscriptionId=AKIAJRRWTH346WSPOAFQ&tag=prabook-20&linkCode=sp1&camp=2025&creative=165953&creativeASIN=1169551491
Paul Moritz Warburg was born in Hamburg on August 10, 1868. He was one of the sons of Moritz and Charlotte (Oppenheim) Warburg. His father was a member of the Hamburg banking house of M. M. Warburg & Company, founded in 1798 by his great-grandfather and conducted thereafter by the family.
He graduated in 1886 from the Gymnasium at Hamburg.
Paul Warburg began work with a Hamburg exporting firm, afterwards serving in shipping and banking houses, first at London, then at Paris. In 1895 he was admitted as partner in the Warburg firm at Hamburg. In the same year he married Nina J. Loeb, daughter of Solomon Loeb, of Kuhn Loeb & Company, and in 1902, coming to New York, he became a member of that firm. He became an American citizen in 1911. Warburg had made special study of the central banking organism in the principal European countries, notably Germany, France, and England. In the United States, after the panic of 1907, he joined publicly with those bankers and public men who were urging fundamental reform in the American banking system. His recognized knowledge of the subject brought him in contact with Senator Nelson W. Aldrich, under whose auspices, in 1908, Congress was induced to create a national monetary commission, to investigate the question and report on a feasible plan. The tentative plan of legislation submitted by Senator Aldrich in 1911, if not virtually drawn up by Warburg, undoubtedly reflected many of his ideas. With its provision for a national reserve association (like a central bank) with branches, the majority of whose managing officers should be chosen by the private banks in the system, Warburg was in entire sympathy. Congress refused to adopt the proposal and when, in 1913, it enacted the Federal Reserve law, providing for separate regional reserve banks under the supervision of a reserve board appointed by the president, the banking community generally opposed the change. It has been claimed, and denied, that certain fundamental principles that were incorporated in the Aldrich bill through the influence of Warburg were accepted in the new act. At any rate, he accepted the altered administrative provisions. The result of this cordial acquiescence and of Warburg's recognized knowledge of the problem was that he was nominated by President Wilson on June 15, 1914, as one of the five appointed members of the first Federal Reserve Board. The Senate finally approved his nomination on August 7, 1914. Warburg was an exceedingly useful member of the Reserve Board during his four-year term, which covered practically the period of the World War and involved operations of a previously unimagined magnitude by the Reserve System. When his term was about to expire in 1918, the United States was at war with Germany. President Wilson was admittedly disposed to renominate him, but Warburg wrote frankly to the President that insistence on the renomination of a citizen of German birth would expose both the President and the Reserve Board to attack, at a crucial moment. Warburg therefore retired to private life, devoting himself thereafter chiefly to the organization and operation of the International Acceptance Bank. In his capacity as private banker, Warburg came into nation-wide notice in March 1929 because of his plain warning, in his annual report to his shareholders, of the disaster threatened by the wild stock speculation then raging throughout the country. Almost without exception, responsible bankers had refrained from public warnings of the kind. Warburg declared the spectacular rise in market values of company stocks to be "in the majority of cases, quite unrelated to respective increases in plant, property, or earning powers". He described the great speculation as sustained only "by a colossal volume of loans carrying unabsorbed securities, " and predicted that, "if orgies of unrestrained speculation" were not brought under control, "the ultimate collapse is certain not only to affect the speculators themselves, but also to bring about a general depression involving the entire country. " When his warning was abundantly fulfilled by the panic of October 1929 on the Stock Exchange, and by the swiftly succeeding aftermath of extreme commercial depression, he condemned emotional predictions of irretrievable ruin as vigorously as he had warned against the delusions of the period of speculation. With the idea that the gold standard was responsible for the entire collapse he had no sympathy whatever. In his analysis of the causes of the depression, he stressed the bad effects of efforts to maintain high prices by "tariff barriers and other artificial expedients, in the face of constantly accelerated mass production". Besides being chairman of the International Acceptance Bank, Warburg was chairman of the Manhattan Company, a director of important railroads and corporations, and a trustee or director of several institutions of educational character. From 1921 to 1926 he was a member of the advisory council of the Federal Reserve Board, and he served as chairman of the economic policy commission of the American Bankers' Association. In 1930 he published The Federal Reserve System. Its Origin and Growth. He died at his home in New York City.
He was a banker and an early advocate of the U. S. Federal Reserve System. He encouraged German - American cultural cooperation, helping found the Carl Schurz Memorial Foundation in 1930 and serving as its treasurer from May 1930 until his death. He also made substantial contributions to the Warburg Library in Hamburg. The cartoon character, Oliver "Daddy" Warbucks in the Little Orphan Annie series, was purportedly inspired by Warburg's life and times. The Paul M. Warburg chair in Economics at Harvard University was named in his honor.
(Excerpt from Essays on Banking Reform in the United State...)
(This scarce antiquarian book is a facsimile reprint of th...)
(This scarce antiquarian book is a facsimile reprint of th...)
( This is a reproduction of a book published before 1923....)
(By Paul M. Warburg. If banks were to keep, in cash, all t...)
On October 1, 1895, Warburg was married in New York City to Nina J. Loeb, daughter of Solomon Loeb. They had two children.
