Six Industrial Crises (Classic Reprint)

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Excerpt from Six Industrial CrisesThe necessity of maintaining proper bank reserves has been recognized for a long time. We recognize that it is necessary, not merely in order to prevent runs on banks and bank panics, but also to ensure that the banks shall always give to active business men the proper loans. If these supplies of cash are not to be had by business men, business halts, and production and consumption suffer.Reserves of two other things are just as necessary to maintain as bank reserves: namely, reserves of consumable commodities - that is, of food, fuel, clothing and materials for shelter, and reserves of investing power - that is, of the power to buy and put away securities. If the reserves of these two things fall too low, prices of commodities become absurdly high, owing to their scarcity, and soon the buying of them is restricted and business is deranged, and "bad times" set in.The need of maintaining these latter two reserves is apparently not recognized, except by the "bears."About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis 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.