Inhaltsangabe
This historic book may have numerous typos or missing text. Not indexed. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1922. Not illustrated. Excerpt: ... ADDENDUM THE QUESTION OF DOLLAR EXCHANGE In recent times attention has been attracted to the question of dollar exchange, or the question as to the future of the draft drawn payable in dollars, as an instrument of international trade. Bills of exchange employed in internal trade, being always of course drawn in dollars, might be included under "dollar exchange" in a broad sense, but the question being mooted to-day does not concern domestic paper. However, both bills drawn for the acceptance of bankers' and merchants' bills on merchants are coming into greater use in the home trade, and this tends to further a like development in our foreign commerce by making for an acquaintanceship with acceptances and by aiding in the building up of a broad and active discount market for such instruments. The importance of dollar exchange in foreign trade has indeed grown considerably during the latter years of the war, but what many hope for is that it may come to hold something of the position that sterling exchange has had. Whether or not we care to make predictions in this field, we can set forth what the realization of this expectation would signify. In the first place, dollar exchange might come to fulfill the same functions in our own foreign commerce that sterling exchange has fulfilled in the foreign commerce of the United Kingdom. But in the second place, and beyond this, it might come to function in commerce which does not touch our shores but which goes direct between two foreign countries, in the way sterling exchange has for years functioned for commerce not entering the United Kingdom.1 If dollar exchange comes to occupy the field in connection with our own foreign commerce it would mean that some of the exporters who ship to the United States would draw ...
Die Inhaltsangabe kann sich auf eine andere Ausgabe dieses Titels beziehen.
