liquidity vs. shiftability theories of banking

Commercial Paper Theory of Bank Credit vs. "Real Bills" Doctrine

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RELATIONSHIP BETWEEN BANK CREDIT AND CAPITAL FORMATION


Heal 6 l U s d o c ^ r i ^ c CC^vft^ctvctoi L<*o*\ Jticcrn* \

S e e UiiiriaX-uLrLfi tf^r» b a t ^ u * ^ \JLsxn*f


CONTROVERSY: LIQUIDITY vs. BANK-LOAN POLICY


DOCTRINES RE NATURE, FUNCTIONS AND EFFECTS OF BANK CREDIT


AGGER, Eugene E»

ORGANIZED BANKING- New York: 1918 •

commercial banking as a credit mechanism, see Chap. I.


AGGER, Eugene E.

"The Coimercial Paper Debate," JODRHAL OF POLITICAL ECOHOMT, July 1 9 H .


BECKWITH, Burnham Putnam

C0NTB4P0RARY ENGLISH-AMERICAN THEORIES CONCERNING THE EFFECT OF COMMERCIAL BANKING ON THE SUPPLY OF PHYSICAL CAPITAL* Los Angeles and Berkeley: University of California Press, 1935. A5 pp.

School of Research Studies No. 8. bibliography, pp. 39-45.


BERLE, A. A. , J r . , and PEDERSON, Vic tor ia J .

LIQUID CLAIMS AND NATIONAL WEALTH: AN EXPLANATORY STUDY IN THE THEORY OF LIQUIDITI. New York: Macnil lan, 1934. Pp. xv i , 2*8.

Review: by George Terborgh, AMERICAN ECONOMIC REVIEW,

XXV, March, 1935, pp. 87-90.


BERLE, JR., Adolph A. and PEDERSON, Victoria J*

LIQUID CLAIMS AND NATIONAL WEALTH: AN EXPLORATORY STUDY IN THE THEORY OF LIQUIDITY. New Yorkx Macmillan Co., 1934.

Pp. xvi + 247,

Claasical idea of self-liquidating bs. Moultonian concept of shiftable assets Statistical — total of "net liquid claims11

with national wealth


i

Ua$ l|fl ui</i t*k pfobte** Cfrr- Kr^if-b#** Ken •


BROWN, Courtney C.

LIQUIDITY AND INSTABILITY. New York: Columbia University Press, 1940. Pp. xiii, 282.

Review: by L. L. Vatkins, JOURNAL OF POLITICAL ECONOMY, Vol. 50, June, 1942, pp. 476-8.

Banking vs. currency school views of commercial banking

Description of liquidity and its role in economic life


* The #$sisfaiio* , Actual and R > f o o t t * I

o? 8 a * Ks o t Deposit" +o +H«* Capital

K£aLMr***Z<*nfs o f B u s i n e s s , '

A)d<ir «ss P^Yor-c Sp<£t'*l G»rot/p Pc»»/or->


If iloney - Great B r i t a i n .

Gannto, Sdwin. L imi ta t ion of currency or l i m i t a t i o n of

c r e d i t ? (In The Econanic j o u r n a l . v . 3 4 , Mar . , 1924. p .52 -64 . }

Adverse c r i t i c i s m of J . L . Keynes* theory of c red i t and currency r e g u l a t i o n in h i s book ••Monetary reform*1.

A comment on P r o f e s s o r Oannan fs a r t i c l e , by J . i l . Keynes, p .65 -68 . , Economic journal , v.SSs,

Mar*,1924.

Canr#u, ^ w i n < a u t h )


COLEMAN, George W.

Capital and Credit. A Critique of Three Theories of the Relationship between Bank Credit and Capital Formation.

Ph.D. (unpub.) thesis - Washington University (St. Louis), 1959*

Wilson1s List, 1959-


COOPER, ¥. B.

Circulation based on commercial paper, BANKERS MAGAZINE,

March, 1913.


M Ifonay

Currie, Lauchlin Treatment of credit in contemporary monetary

policy. (In: Journal, of Po l i t i ca l Economy, Feb* 193Sfp«53?>79)

A criticism of the ambiguity of the use of the word "dredit" for demand deposits and again for loans and investments, and of the deserve system credit policies* Criticism of Gov* Harris o n s use and understanding of the ward credit*


V yy~* ^-^ ^ s ^ ^ e - v _^


DAVENPORT, H. 3.

The working of restricted credit, TBE JOURNAL OF POLITICAL ECONOMY,

January, 1908.


EMERSON, KSuy Author File

Social aspects of commercial banking theory, AMERICAN ECONOMIC REVIEW, XXIII, June, 1933, pp. 217-233.

Theory of credit control


during +he R**i ffenera^n/1 8ut^fcr//0 Ofr 7>/£

AJ/iT(OAiAL. AssaaAltofiJ or2" c a t o c r M£^4

Vol. xix No. & t / * ' 7 PP-13S-1S*.


GAMBINO, Amedeo

"Liquidity in the Economy and i n the Banking System,n BANCA NAZIOHALE DEL- LAVOBO QDARTERLI REVIEW, Vol. LV, No. 18, July-September, 1951.


iflfKOlKJ J£

TKusr toHPs}Me* Feb- l<ilf

SlnoGLfeoo pof*Y «ft**v pAfut* Pasted <**


GARDNER, B. C. ' « W w„ ~)

Bank credit and its relation to bank reserves, CANADIAN BANKER,

July, 1939.


Uaaih Co., WI3 .

t+aJUhmn^l CurvKzcpt o f


HACKETT, V. T. G.

A BACKGROUND OF BANKING THEOBY. Toronto:

1945.

chap. Ui credit-creation thesis


HARRIS, S. E.

The commercial theory of credit, THE JOURNAL OF POLITICAL ECONOMY, Vol. UU, No. 1, February, 1936, pp. 94-

re: C. Whitney, EXPERIMENTS IN CREDIT CONTROL (1934). L. E. Clark, CENTRAL BANKING UNDER THE FEDERAL RESERVE SYSTEM (1935)


MARBACH, Dr. Frits

Die Kreditschopfung der Handel sbanken und das Postulat der Verstaatlichung des Kredits. Berne; A. Francke A. G., 1947. 75 pp.


M Martin, William MeC#

When a bank needs funds quickly, (In: American Bankers Association Journal, July, 1932, p# 16.)

Mr, Martin Governor of. Federal Reserve Bank of St. Louis t e l l s bankers a bank i s not liquid unless i t s el igible paper i s supported by credit data.

Eligible paper.


muv\*ii Wc><</o f\ 9

The al&ch upon "U\e 1K«oru of 1Me

liquidity o? b*»ft camtnQ a s s e f s

_ ••

Ve>l, it ^ &, bpr'l '4*\fp.***- i d .

r tUevrt


MITCHELL, Waldo F.

Eligibility Rules of the Federal Reserve System, (University of Chicago) JOURNAL OF BUSINESS, Vol. 3, 1925, pp. 153-170.


MITCHELL, ¥aldo F.

"The Attack upon the Theoiy of the Liquidity of Bank Earning Assets," JOUBHAL OF POLITICAL ECONOMY, Vol. XXXI,

1923.


MITCHELL, ¥. F.

«The Attack upon ttte Theory of Bank Earning Assets," JOURNAL OF POLITICAL ECONOMT, April 1923•

Sunmarizes orthodox theoiy that short-time commercial loans are proper investments for commercial banks Contrasts the ciy vith actual practice of American banks in making investment loans. Does the liquidity of an asset depend on the settlement of an obligation at maturity or upon the shif tability of an obligation?


TWe- 4U*cfc u p o n fh*. fUc<pmj o£ -(U^


The a/f l e t s o p < ^ ^ ^ j , e . ^ o f

The 'orthodox1 theory of short-time advances and automatic l iquidity i s considered


JccoA uro Rev/si*/, XA/JC/ n3^*

Jit^ut'd »%fcj doeG****^-


HoouTonS H0G ,

Phs. I-ZT

UnaUjliA Jj fiA&azM&o *f Cups/a/

\vr09€*frvyi

NO

H

-•it Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

\

• 4

*>*? • * y s £ ~ t A ^ f o , cUf3*st~f ^


PARASKEVOPOOLOS, J.

Notion et politique de la liquidite' des banques, REVUE DES SCIENCES ECONOMIQUES ET POLITIQUES,

April-June, 1939. Pp. 34.


ie*c*r

J* *7 • / ? 2 2 .

•*K>-7se( - FK6-O1, <eaiS<


PROCHNOW, H. V.

Bank liquidity and the new doctrine of anticipated income, JOURNAL OF FINANCE,

December, 1949* 13 pp.


PROCHNOW, Herbert V.

"Bank Liquidity and. the New Doctrine of Anticipated Income," THE JOURNAL OF FINANCE, Vol. IV, No. U, December, 1949, pp. 298-312.


PROCHNOW, Herbert V.

TEEM LOANS AND THEORIES OF BANK LIQUIDITI. New York: Prentice-Hall , Inc . , 1949.

Presents an analys is of theories of bank l iquid i ty and contains comprehensive discussion of term loans.


PROCHNOW, H. V.

TERM LOANS AND THEORIES OF BANK LIQUIDITY, lork: Prentice-Hall, 1949. Pp. 460.


?<U>£ttA?OVL/ tf.l/, L

# » t

Tli««<-i«s3 efi &fr«K Credit haukLatton (

**•*&*-U»Ut I1H, PP 3 - / 8 ,


TH£ STORN OF C.OIV»»7£RCMU P « P £ R

lV)eW V»rlS :

mi.


SAIERS, R. S.

The concept of liquidity in Biglish banking, BANCA NAZIONALE DEL LAVORO, QUARTERLY REVIEW, No. 17, April-June, 1951, pp. 3-12*


SAYEFS, R. S.

The concept of liqatLdiiy in: English banking, Banca Nazionale del Lavoro, QUARTERLY EEVISW,

No. 17, April-June, 1951, pp. Jl2.


SAYERS, R. S.

The concept of liquidity in English banking, Banca Nazionale del Lavoro QUARTERLY REVIEW,

No. 17, April-June, 1951, pp. 1-12.


Soon W. A

ft / ^ f i V r a , kefJ Oct. i<ii3 •


°^ ih* lwesi**<-„r fccnfa** Ass*?. o f


The Mechtvu/rt o( Lt>v*i*ner<f*( Cjree/i'f.

/U«c«i Yor* '. J ) . Appfcto* (2 /9U-, Pp .

Reif/et/ : hu S. P. Mcv<k JP£ y. 33, Jura~ 19*5 ft? •

-^ ****** f pAecc&cao /-t OS

ft.


The Wcch**rt_s»*> o4 Commercial Cr*ecfii

2^ fc

A ^ I / ^ H . ) • fc*( $.f>. Me ere Is JP£? | / 3 ^ v W « r / % ? * *


*Mlt*nt-* Br, /

Pp. 6 2 . 3 - J ) ^


VEIT, Otto

Volkswirtschaftliche Theorie der Liquid!taet. Frankfurt/ Main: Vittoria Klo8tera»n», 1943. Pp. 167.

Review: by Hans A. Adler, AMERICAN ECONOMIC REVIEW, v. 39, Dec, 1949, pp. 1329-30.

concept of liquidity


VEIT, Otto

Volkswirtschaftliche Theorie der Liquiditfit,

Review: AMERICAN ECONOMIC REVIEW, XXXIX, No. 6, Dec, 1949, PP. 1329-30.

concept of liquidity


WAGNER, Valentin F.

Geschichte der Kredittheorien: Eine dogman-kritische Darstellung. Vienna: Julius Springer, 1937. Pp. xvi, 521.

Review: by A. W. Marget, JOURNAL OF POLITICAL ECONOMY, vol. 46, April, 1938, pp. 257-59.

History of theories of credit


W*TK/AJ3 k r « / f V|/

7 Ju/,, /<*/*? pp . s ? * - ?*; >$ Rejo**></<-r-


liquidity vs. shiftability theories of banking

Documents