상세정보

The set reproduces a cross section of the most important books on money from the 1920s and 1930s, the formative decades in the development of monetary theory. UK and US authors are included.

The set reproduces a cross section of the most important books on money from the 1920s and 1930s, the formative decades in the development of monetary theory. UK and US authors are included.

정보제공 :

[Volume. 1]----------

CONTENTS

PREFACE = ⅴ

CHAPTERⅠ. FRENCH MONETARY POLICY = 1

CHAPTERⅡ. SPECULATION AND COLLAPSE IN WALL STREET = 41

CHAPTERⅢ. CONSUMERS' INCOME AND OUTLAY = 84

CHAPTERⅣ. THE ART OF CENTRAL BANKING = 116

CHAPTERⅤ. MONEY AND INDEX-NUMBERS = 303

CHAPTERⅥ. MR. KEYNES'S TREATISE ON MONEY = 332

CHAPTERⅦ. INTERNATIONAL SHORT-TERM INVESTMENT = 412

CHAPTERⅧ. REMEDIES FOR UNEMPLOYMENT = 426

INDEX = 449

[Volume. 2]----------

CONTENTS

CHAPTERⅠ THE MERITS AND DRAWBACKS OF MONEY

 1. INTRODUCTORY = 1

 2. A DEFINITION OF MONEY = 2

 3. THE ADVANTAGE OF MONEY TO THE CONSUMER = 4

 4. THE ADVANTAGE OF MONEY TO THE PRODUCER = 6

 5. THE MONETARY VEIL OVER LENDING AND SAVING = 9

 6. MONETARY INSTABILITY AND THE DISTRIBUTION OF WEALTH = 10

 7. MONETARY INSTABILITY AND THE CREATION OF WEALTH = 13

CHAPTERⅡ THE VALUE OF MONEY

 Ⅰ. WHAT IS MEANT BY THE VALUE OF MONEY

  1. A DEFINITION OF THE VALUE OF MONEY = 17

  2. CHANGES IN THE VALUE OF MONEY = 18

  3. DIFFICULTIES OF MEASUREMENT = 21

  4. PROVISIONAL SOLUTION = 24

 Ⅱ. HOW THE VALUE OF MONEY IS DETERMINED

  5. RESEMBLANCES BETWEEN MONEY AND OTHER THINGS = 28

  6. DIFFERENCES BETWEEN MONEY AND OTHER THINGS = 31

  7. THE PUBLIC'S DEMAND FOR MONEY = 34

  8. MONEY SITTING AND MONEY OF THE WING = 37

  9. PROBLEMS AHEAD = 39

CHAPTERⅢ THE QUANTITY OF MONEY

 Ⅰ. THE KINDS OF MONEY

  1. BANK MONEY AND COMMON MONEY : LEGAL TENDER, OPTIONAL AND SUBSIDIARY MONEY = 41

  2. CONVERTIBLE AND DEFINITIVE MONEY = 44

  3. TOKEN AND FULL-BODIED MONEY = 45

 Ⅱ. THE QUANTITY OF BANK MONEY

  4. THE RELATION OF CHEQUES TO DEPOSITS = 48

  5. THE RELATION OF DEPOSITS TO RESERVES OF COMMON MONEY = 50

  6. THE MAGMITUDE OF BANK RESERVES = 53

  7. THE RELATION OF DEPOSITS TO COMMON MONEY OUTSIDE BANK RESERVES = 57

 Ⅲ. THE QUANTITY OF COMMON MONEY

  8. THE RELATION OF CONVERTIBLE COMMON MONEY TO RESERVES = 60

  9. THE COMPOSITION OF RESERVES = 62

CHAPTERⅣ THE GOLD STANDARD

 1. THE GOLD BULLION AND GOLD CIRCULATION SYSTEMS = 64

 2. THE BIMETALLIC AND LIMPING SYSTEMS = 67

 3. FOREIGN EXCHANGE UNDER ARBITRARY STANDARDS = 69

 4. FOREIGN EXCHANGE UNDER A GOLD STANDARD = 73

 5. THE GOLD EXCHANGE SYSTEM = 75

 6. THE VALUE OF MONEY AND THE VALUE OF GOLD = 78

 7. THE VALUE OF GOLD AND ITS COST OF PRODUCTION = 81

CHAPTERⅤ MONEY AND SAVING

 1. A PRELIMINARY VIEW OF BANK LOANS = 85

 2. THE CONTINUITY OF BANK LOANS = 87

 3. THE IMPOSITION OF FORCED SAVING = 90

 4. THE CONVERSION OF SPONTANEOUS SAVING = 93

 5. BANK LOANS AND INDUSTRIAL PROGRESS = 97

 6. BANK LOANS AND THE NEEDS OF TRADE = 99

 7. CIRCULATING CAPITAL = 103

 8. THE FOUR CRUCIAL FRACTIONS = 105

CHAPTERⅥ MONEY IN THE GREAT MUDDLE

 Ⅰ. MONETARY COLLAPSE

  1. THE CAUSES OF THE EXPANSION OF MONEY SUPPLIES = 108

  2. THE EXPANSION OF BANK MONEY IN ENGLAND = 110

  3. THE EXPANSION OF COMMON MONEY IN ENGLAND = 113

  4. THE INTER-REACTIONS OF THE CONDITIONS OF DEMAND FOR AND SUPPLY OF MONEY = 117

  5. THE MISBEHAVIOUR OF THE FOREIGN EXCHANGES = 119

  6. THE DIVERGENCE BETWEEN INTERNAL AND EXTERNAL PRICE-LEVELS = 121

 Ⅱ. MONETARY RESTORATION

  7. THE PINNING OF THE EXCHANGES = 123

  8. THE MACHINERY OF STABILISATION = 125

  9. THE EFFECTS OF STABILISATION ON INDUSTRY = 129

  10. THE AFTERMATH OF STABILISATION = 132

CHAPTERⅦ THE QUESTION OF THE STANDARD

 1. THE CASE FOR A PRICE-LEVEL VARYING INVERSELY WITH PRODUCTIVE POWER = 134

 2. THE CASE FOR A GENTLY RISING PRICE-LEVEL = 138

 3. THE CASE AGAINST THE GOLD STANDARD = 140

 4. THE CASE FOR CONFORMITY TO A WORLD GOLD STANDARD = 144

 5. THE GENERAL CASE FOR THE GOLD STANDARD = 146

 6. THE CONTROL OF THE WORLD VALUE OF GOLD = 149

 7. THE CASE FOR RE-VALUATION OF THE POUND = 150

 8. THE CASE AGAINST THE RE-VALUATION OF THE POUND = 152

CHAPTERⅧ THE QUESTION OF THE CYCLE

 1. MONEY IN A TRADE BOOM = 155

 2. THE MECHANISM OF CONTROL BY THE CENTRAL BANK = 159

 3. THE STIMULATION OF SAVING = 163

 4. THE QUALITATIVE CONTROL OF BANK LOANS = 166

 5. THE MANIPULATION OF THE RATE OF INTEREST = 168

 6. THE RATIONING OF BANK LOANS = 171

 7. THE NEED TO CONTROL FALLING PRICES = 174

 8. EXPEDIENTS FOR THE CONTROL OF FALLING PRICES = 176

 9. THE SCOPE FOR GOVERNMENT INTERVENTION = 178

APPENDIX A = 180

APPENDIX B = 182

[Volume. 3]----------

CONTENTS

Ⅰ. INTRODUCTORY = 1

Ⅱ. APPROPRIATE FLUCTUATIONS OF OUTPUT = 6

Ⅲ. THE WAGE AND MONEY SYSTEMS = 19

Ⅳ. INAPPROPRIATE FLUCTUATIONS OF OUTPUT = 34

Ⅴ. THE KINDS OF SAVING = 40

Ⅵ. SHORT LACKING IN THE TRADE CYCLE = 71

Ⅶ. THE RELATIONS OF SHORT AND LONG LACKING = 84

[Volume. 4]----------

CONTENTS

PART Ⅰ. THE NATURE AND SUPPLY OF MONEY IN THE UNITED STATES

 CHAPTER Ⅰ. Money in Monetary Theory = 3

  This study focuses attention on the supply of money, not on the spending of money = 3

  Keynes minimizes the importance of variation in supply = 4

  Further indications of importance of supply = 8

 CHAPTER Ⅱ. The Concept of Money = 10

  Definition of money = 10

  Composition of money, cash and deposits subject to check = 12

  Exclusion of reserves = 13

  Exclusion of time deposits = 14

  Exclusion of unused overdraft facilities = 19

  Exclusion of bills of exchange = 21

  Exclusion of book credit = 22

  Exclusion of installment credit = 23

 CHAPTER Ⅲ. The Supply of Money in the United States = 25

  Description of method of deriving a series of money = 25

  Supply of money, 1921-1933 = 33

 CHAPTER Ⅳ. The Monetary Theory vs. the Commercial Loan Theory of Banking = 34

  The Monetary Theory = 34

  The Commercial Loan Theory = 34

  The bases of Commercial Loan Theory

   (a) Banking Principle = 35

   (b) Liquidity = 37

   (c) Productivity = 39

  Policies derived from two theories incompatible = 40

 CHAPTER Ⅴ. The Concept of Credit = 46

  Various meanings of the term = 46

  Concept of total bank loans has little insignificance = 48

  Reasons for divergencies in movements of demand deposits and bank loans = 50

  Some consequences of identification of terms "credit", "bank loans and investments" and "purchasing power" = 51

  Conclusion that term should not be employed by monetary writers = 62

PART Ⅱ. THE CONTROL OF MONEY IN THE UNITED STATES

 CHAPTER Ⅵ. Proximate Conditions of Supply Of Demand Deposits Subject to Check = 65

  Deposits are limited by the volume of reserves in conjunction with the reserve ratio.

 CHAPTER Ⅶ. Reserve Requirements of Commercial Banks = 69

  Total required reserves, expressed as a percentage of demand deposits are affected by movements of time deposits = 69

  Total required reserves, expressed as a percentage of demand deposits are affected by movements of interbank deposits = 71

  Total required reserves, expressed as a percentage of demand deposits are affected by movements of deposits between member and non-member banks = 73

  Total required reserves, expressed as a percentage of demand deposits are affected by movements in government deposits = 74

  Total required reserves, expressed as a percentage of demand deposits are affected by movements of deposits between different classes of member banks = 75

  Total required reserves, expressed as a percentage of demand deposits are affected by different valut cash requirements = 76

  Tables showing influence of these various factors on the required reserve - adjusted demand deposits ratio = 77

 CHAPTER Ⅷ. The Volume of Reserves of Commercial Banks = 83

  Proximate factors affecting reserves = 83

  Paramount importance of the rediscounting privilege = 84

  Effectiveness of the rediscount rate = 84

  Effectiveness of limiting the paper eligible for rediscounting = 88

  Effectiveness of the "tradition" against continuous indebtdness to the reserve banks = 89

  Sensitivity to indebtdness varies according to the class of bank = 92

  Sensitivity to indebtdness varies according to the class of bank and the cyclical phase of business activity = 96

  Movements of net demand deposits can not be explained by the one for one expansion or contraction due to uncompensated deposits or withdrawals = 98

  Conclusions = 101

 CHAPTER Ⅸ. Gold Reserves = 104

  Gold as a limiting factor of the supply of money = 104

  Increased and decreased efficiency of gold = 105

  Ratio of gold to money in post-war period = 106

 CHAPTER Ⅹ. The Problem of Note Issue = 110

  Changes in the proportions of money represented by notes and by deposits result also in changes in the volume of money. This is due to

   (a) the different reserve requirements = 110

   (b) the different ways in which the two kinds of money are issued = 113

 CHAPTER XI. Excess Reserves = 115

  The available figures indicate that non-utilization of reserves is not a serious problem in a "normal" depression = 115

  Cyclical movements of bank assets = 117

  From viewpoint of control investments are the best type of bank assets = 122

  Absence of excess reserves in Canada and the United Kingdom = 123

  Conclusion that normally demand for loans is not a very important part of the explanation of the movements of deposits = 124

 CHAPTER XII. Units Banks and Bank Failures in Relation to the Supply of money = 126

  It is probable that the greater the numbers of separate banks the higher will be the reserve ratio = 126

  Bank failures as a factor bearing upon the supply of money = 128

 CHAPTER XIII. The Perverse Elasticity of the Federal Reserve System = 130

  Brief summary of preceding seven chapters = 130

  Forces tending to bring about expansion of money in the upswing of business = 131

  Forces tending to bring about contraction in upwnswing = 134

  Forces tending to bring about contraction in downswing = 136

  Forces tending to bring about expansion in downswing = 137

  Conflict of acceptance and open market polices = 138

 CHAPTER XIV. Present Effectiveness of Control of Money = 142

  The case against effectiveness of control = 142

  The case for effectiveness of control = 143

  Effectiveness of control depends in large part on the correct timing of policy = 144

PART Ⅲ. SUGGESTIONS FOR REFORM

 CHAPTER XV. Ideal Conditions for Control = 151

  Most perfect control would be achieved by direct government creation of all money = 151

  Outline of possible plans to attain this end and consideration of various objections = 151

  Some consequences of direct government supply and control = 154

 CHAPTER XVI. Suggested Improvements in the Organization of the System = 157

  A prerequisite to improve organization is a change in the reserve administration's conception of its fuction = 157

  Present organization badly adapted for its purpose = 158

  Suggestions for improving the personnel of the administration and the structure of the system = 159

 CHAPTER XVII. Suggestions for Enhancing the Effectiveness of Control = 163

  (A) The reserve ratio

   There should be no reserve requirements against time deposits = 163

   There should be no reserve requirements against time deposit, nor against bank deposits = 164

   There should be a uniform reserve requirement against all deposits subject to check = 166

   There should be a uniform reserve requirement against all deposits subject to check, but it should be not vary automatically according to the volume of bank debits = 168

   It should, however, be capable of being changed at the discretion of the reserve administration = 178

   Desirability of abolishing or at least lowering legal requirements against the central bank's liabilities = 177

   Desirability of abolishing or at least lowering legal requirements against the central bank's liabilities, and against notes and coins= 178

 CHAPTER XVIII. Suggestions for Enhancing the Effectiveness of Control (continued) = 180

  (B) The volume of reserves. - The control of the volume of member bank reserves would be enhanced by either the abolition of the rediscounting privilege or the development of nation-wide branch banking. = 180

APPENDIX. The Interpretation of the Federal Reserve Statement and Related Items = 185

INDEX = 194