BANK OF NORTH AMERICA.

It is a common opinion that the Bank of North America rendered essential service during our revolutionary struggle that, without it, the achievement of independence would have been difficult, if not impossible. Assertions to this effect have been made with so...

CONTINENTAL MONEY.

An account taken from the books of merchants in Virginia shows that the depreciation there regularly fol!owed that in Philadelphia, though, towards the close, it sometimes Jagged a month or more behind. Thus, when exchange was at Philadelphia at 100 for...

Effects on Credit

In a rising country, sound credit is of equal importance with a sound currency. Through its operation, the advantages of capital are more equally diffused than would otherwise be possible. The man who has more capital than he wishes to employ...

Risk Management

Making adjustments to positions goes hand in hand with risk management. In the previous chapter, we saw how to adjust a winning position based on changing circumstances. Sometimes, however, we are forced to adjust losing trades. This can mean exiting a...

Trading the Market

During a bull market, the stock market is buzzing with activity. The investment public is actively buying and selling shares and trading volume increases. For example, in March 2000, technology stocks were on fire; on the NASDAQ Stock Market, average trading...

Banks of Discount.

Let us suppose that all the Banks in the country were destroyed and that our circulating medium consisted exclusively of gold and silver coin. In such a state of affairs, every merchant would keep about his person, or in his house,...

OF REAL MONEY.

  The “grave, enlightened, and patriotic Senators,” to whom Mr. White alludes, are those who, with Mr. Smith, at their head, made a report, in the year 1830, in which they represented certain kinds of Bank paper as being as good...