Lombard Street: A Description of the Money Market

by Walter Bagehot

Overview

Much of what we consider modern economics is the work of British journalist and economist Walter Bagehot, one of the first editors of the influential newspaper The Economist and an early proponent of business cycles. Here, he develops his theory of central banking, much of which continues to impact financial thinking today. First published in 1873, this replica of the updated 1910 edition explores the history of London's Lombard Street, from how it came to be the traditional home of banks and moneylenders to how the value of money was determined by the institutions there. Joint stocks, private banking, and the regulation of the banking reserve: Bagehot's discussion of these fundamental economic issues makes this a vital resource for anyone wishing to understand financial history. WALTER BAGEHOT (1826-1877) also wrote The English Constitution (1867), Physics and Politics (1872), and The Postulates of English Political Economy (1885), among other works.

Product Details

ISBN-13:	9781605200170
Publisher:	Cosimo Classics
Publication date:	12/01/2007
Pages:	404
Product dimensions:	5.50(w) x 8.50(h) x 1.06(d)

About the Author

WALTER BAGEHOT is one of the most celebrated finance writers ever. One of the most lucid and discerning critics of his time, Bagehot was editor of the highly regarded Economist. Widely acknowledged as an expert on banking and finance, he was frequently consulted by Parliament.

Table of Contents

A General View of Lombard Street.
How Lombard Street Came to Exist, and Why it Assumed Its Present Form.
The Position of the Chancellor of the Exchequer in the Money Market.
The Mode in Which the Value of Money is Settled in Lombard Street.
Why Lombard Street is Often Very Dull, and Sometimes Extremely Excited.
A More Exact Account of the Mode in Which the Bank of England has Discharged Its Duty of Retaining a Good Bank Reserve, and of Administering it Effectually.
The Government of the Bank of England.
The Joint Stock Banks.
The Private Banks.
The Bill-Brokers.
The Principles Which Should Regulate the Amount of the Banking Reserve to be Kept by the Bank of England.
Conclusion.
Appendices.