cover image: The New Review  September 1942

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The New Review September 1942

1942

THIS SIDE AND THAT THE RUSSIAN CAMPAIGN THE leading feature of the battle in Southern Russia lies in the contrast between the self-reliant courage of the troops and the unreliable strategy of Marshal Timoshenko. [...] In India this dual control of currency and credit was clearly recognized and that was the strongest plea for the creation of a Central Bank here.' The last war increasingly brought home the lesson of the usefulness of Central Banks and there was a healthy growth of such banks after the war particularly in the Republics of South America in the then newly created States of Europe and the Dominion [...] The growing realization by the Bank of England of its position as the 'lender of the last resort' made it reluctant to rely on these methods.' Moral suasion and direct action imply techniques more subtle in nature and in the case of England the former has generally reference to the rate and direction of the investment.' In money markets of the American type predominated by a large number of uni [...] The dependence of the English money market on the Central Bank and the convention that the money market would follow the lead of the Central Bank' tended to make the Bank rate effective in England. [...] Keynes has given a far reaching analysis of the operation of the Bank rate in England.2 He distinguished three 'strands' in the working of the Bank rate : 1) regarding the Bank rate merely as a means of regulating the quantity of bank money ; 2) regarding it as a means of protecting the country's gold reserves by regulating the rate of foreign lending3 ; 3) regarding the Bank rate as a means of re
history
Pages
98
Published in
United Kingdom
SARF Document ID
sarf.120030
Segment Pages Author Actions
Frontmatter
i-ii A. S.J. Lallemand view
From the World of Journals
i-vii unknown view
This Side and That
177-184 unknown view
Poetry as a School-Certificate Subject
185-194 F.J. Pereira view
Credit Control in Modern Central Banking
195-209 P.C. Thomas view
Democracy
210-223 A. Lallemand view
The China of Pearl Buck
224-240 S. Sadhu view
Punica Granatum
241-254 J.F. Caius view
The Mediterranean
255-260 R. Satakopan view
Some Recent Books
261-264 unknown view
Backmatter
i-i unknown view

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