The Meaning of Money (Classic Reprint) - Hartley Withers

Excerpt from The Meaning of Money
Much has happened in the Money Market since this book was written. The stress of the greatest war that ever deluged Europe in bloodshed has strained the strength of our credit system without breaking it; we know now that if the financial power of the country is husbanded with care and statesmanship, it will be our trusty weapon until a secure peace is won, and our mainstay among the new problems and difficulties that peace will bring with it There never was a time when a clear understanding of our monetary system was more necessary to all who wish to form a reasoned judgment about matters of great moment to the nation's well-being; and if this book can help to throw light on this dark subject in this time of crisis, its writer will have earned a reward of which he little dreamt when he wrote it - most of it in Kensington Gardens - in the peaceful spring and summer of 1908.
It maybe added that the chief thesis worked out in the book needs a slight extension in the light of the war's experience. That every loan by a bank to a customer increases the volume of banking deposits is now an acknowledged truism.
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