Notes and Bank Deposits

Roy Harrod

Chapter 2 in Money, 1969, pp 24-65 from Palgrave Macmillan

Abstract: Abstract A man may deposit some gold (or silver) in a bank and receive a certificate that he has done so, which also constitutes a promise by the bank to repay him his gold on demand. He may then use this certificate as money. He may give it to someone to whom he has to discharge a debt. ‘ Look, here is this promise by the famous bank X to pay me in gold; if I give it to you, it will pay you the gold.’ We may call these certificates bank-notes. They may be a convenient substitute for gold, both for carrying about, especially in large denominations, and for sending through the post.

Keywords: Monetary Policy; Central Bank; Commercial Bank; Money Supply; Treasury Bill (search for similar items in EconPapers)
Date: 1969
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-15348-0_2

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349153480

DOI: 10.1007/978-1-349-15348-0_2

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().