First Published in 1972. The London Discount Market is unique, and its existence has contributed more than any other single factor to the elaboration of what may legitimately be called the Anglo-Saxon tradition in Central Banking technique. The bill of exchange has existed for centuries in its classical late Victorian form by many decades. This book assesses how in no other country in the world did the same relationships evolve between the Central institution and the Money Market.

First Published in 1972. The London Discount Market is unique, and its existence has contributed more than any other single factor to the elaboration of what may legitimately be called the Anglo-Saxon tradition in Central Banking technique. The bill of exchange has existed for centuries in its classical late Victorian form by many decades. This book assesses how in no other country in the world did the same relationships evolve between the Central institution and the Money Market.