By Wallace D. Wattles
THE technology of having wealthy is the unique and most sensible consultant to manifesting wealth throughout the legislations of charm. First released in 1910, THE SCIENCD of having wealthy was once an important idea for Rhonda Byrne's bestselling booklet "The Secret." based on united states this present day, the textual content is "divided into 17 brief, straight-to-the-point chapters that specify how one can conquer psychological obstacles, and the way construction, now not pageant, is the hidden key to wealth attraction."
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Extra resources for The Science of Getting Rich 1912
Sample text
Even if some of these costs can be recouped by charges there are many which cannot. By contrast, deposits in deposit accounts have fewer overhead costs, but do earn interest for the depositor so that a direct charge is incurred. Money borrowed on the money markets may be more expensive but have fewer hidden costs. On the lending side some of the loans must be low-yielding loans at 'call' or 'short notice' to preserve liquidity; others will be of medium yield with high security (loans to first-class names); others will be at higher interest rates but with an element of risk over repayments.
Natural disasters, the collapse of a powerful company or a crop failure may bring a unit bank to the 'discount window' for reasons totally unconnected with its own lending policy, and a punitive rate would be wholly inappropriate. The assistance given as 'lender of last resort' is not therefore related to the money supply in general, and any 'credit rationing' that has to be done is based upon other considerations than price. Only in the case of a general national inflation is the discount rate used for a shock effect, to bring the nation to its senses.
Although not strictly a banking function, there is a great deal of work to be done in servicing the National Debt. The huge volume of debt, on which interest is paid twice yearly, involves the preparation of countless dividend warrants or bank transfers. Until 1869 dividends were paid in person at the Bank, and Dividend Day was a long-standing City event, with stockholders arriving in their best clothes to collect their dividends and spend an enjoyable day in town. Today the payments are by credit transfers into named bank accounts in the vast majority of cases.