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Books > History > History of specific subjects > Economic history
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The Decline of Inland Bills of Exchange in the London Money Market 1855-1913 (Paperback)
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The Decline of Inland Bills of Exchange in the London Money Market 1855-1913 (Paperback)
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This 1971 book reviews and criticises the widely accepted
hypothesis that the decline of the inland bill of exchange in
Britain in the nineteenth century was largely due to the process of
bank amalgamation, which linked bank branches in areas of excess
demand for money with branches having surplus funds. Dr Nishimura
argues that the introduction of the telegraph and steamship in the
last quarter of the nineteenth century, by making both supply and
demand more certain, relieved the merchant of the necessity to hold
large stocks of goods in anticipation of orders. This book will be
useful for other researchers in this field.
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