Excerpt from Brief and Reply Brief Submitted on Behalf of the New York Stock Exchange to the Senate Committee on Banking and Currency March 5, 1914 and March 30, 1914, Respectively
What is the evil alleged as the reason for the bill? In the report of the Committee appointed pursuant to House Resolutions 429 and 504 to investigate the concentration of control of money and credit. Dated February 28, 1913, (which we shall hereafter take the liberty of calling, for brevity, the Pujo Report) this is what is said on that subject (p. 116)
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Paperback. Zustand: New. Print on Demand. This book presents a comprehensive analysis of the proposed Senate Bill 3895, which aimed to regulate stock exchanges to curb fraudulent and harmful transactions. It opens by outlining the arguments for the bill, based on reports alleging rampant speculation, manipulation, and misuse of exchanges. The author meticulously examines the evidence presented, questioning its validity and highlighting the flaws in the bill's proposed remedies. Through a detailed exploration of the nature of transactions on the New York Stock Exchange, the book effectively debunks the notion of widespread unwholesome speculation and manipulation. It underscores the essential role of speculation and diverse market forces in facilitating liquidity and price discovery. The book emphasizes that the bill, rather than addressing genuine concerns, sought to impose unwarranted restrictions on the exchange, potentially stifling innovation and economic growth. In conclusion, the book offers a nuanced perspective on the regulation of stock exchanges, arguing for a balanced approach that safeguards investors without impeding the vital functions performed by these institutions. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Bestandsnummer des Verkäufers 9781330358924_0
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PAP. Zustand: New. New Book. Shipped from UK. Established seller since 2000. Bestandsnummer des Verkäufers LW-9781330358924
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PAP. Zustand: New. New Book. Shipped from UK. Established seller since 2000. Bestandsnummer des Verkäufers LW-9781330358924
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Zustand: Sehr gut. Zustand: Sehr gut | Sprache: Englisch | Produktart: Bücher | Keine Beschreibung verfügbar. Bestandsnummer des Verkäufers 25808994/2
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