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THE MACMILLAN COMPANY
NEW YORK · BOSTON · CHICAGO · DALLAS
ATLANTA · SAN FRANCISCO
MACMILLAN & CO. Limited
LONDON · BOMBAY · CALCUTTA
MELBOURNE
THE MACMILLAN CO. OF CANADA. Ltd.
TORONTO
Assistant Professor of Economics in Dartmouth College
and Assistant Professor of Banking in the Amos
Tuck School of Administration and Finance
New York
THE MACMILLAN COMPANY
1921
All rights reserved
PRINTED IN THE UNITED STATES OF AMERICA
Copyright 1916
By THE MACMILLAN COMPANY
Set up and electrotyped. Published September, 1916.
FERRIS
PRINTING COMPANY
NEW YORK CITY
Designed mainly for class room use in connection with one of theintroductory manuals on the subject of Money and Banking or of Money andCurrency, this volume, in itself, lays no claim to completeness. Whereits use is contemplated the problems of emphasis and proportion are,accordingly, to be solved by the selection of one or another of theavailable texts, or by the choice of supplementary lecture topics andmaterials. The contents of the introductory manuals are so divergent incharacter as to render possible combinations of text and readings thatwill include, it is hoped, matter of such range and variety as may bedesired.
Fullness of treatment has been attempted, however, in the chaptersdealing with the important recent developments in the "mechanism ofexchange," and my aim has been throughout to select and, in manyinstances, to adapt with a view to meeting the wants of those who areinterested chiefly in the modern phases of the subject.
For valuable suggestions in the preparation of the volume I am greatlyindebted to Professors F. H. Dixon and G. R. Wicker and Mr. J. M.Shortliffe of Dartmouth, Professor Hastings Lyon of Columbia, ProfessorE. E. Day of Harvard, and to my former teacher, Professor F. R.Fairchild of Yale. I desire also to mention my great obligation toauthors and publishers who alike have generously permitted thereproduction of copyrighted material.
Chester Arthur Phillips.
Dartmouth College,
Hanover, N. H., July, 1916.
CHAPTER PAGE
I The Origin and Functions of BU KİTABI OKUMAK İÇİN ÜYE OLUN VEYA GİRİŞ YAPIN!
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