TAILIEUCHUNG - A FOREIGN EXCHANGE PRIMER By FRANKLIN ESCHER

The various forms of obligation between the bankers and merchants of one country and the bankers and merchants of another, which result in the drawing of bills of exchange. Chapter II. The Demand for Bills of Exchange 15 A discussion of the six sources from which spring the demand for the various kinds of bills of exchange. Chapter III. The Rise and Fall of Exchange Rates 25 Operation of the five main influences tending to make exchange rise as opposed to the five main influences tending to make Chapter IV. . | Elements of Foreign Exchange A FOREIGN EXCHANGE PRIMER By FRANKLIN ESCHER Special Lecturer on Foreign Exchange at New York University Fifth Edition NEW YORK THE BANKERS PUBLISHING COMPANY 1915 LONDON EFFINGHAM WILSON 54 THREADNEEDLE ST. Copyright 1910 By the Bankers Publishing Co. New York CONTENTS PAGE Chapter I. What Foreign Exchange is and What Brings it into Existence 3 The various forms of obligation between the bankers and merchants of one country and the bankers and merchants of another which result in the drawing of bills of exchange. Chapter II. The Demand for Bills of Exchange 15 A discussion of the six sources from which spring the demand for the various kinds of bills of exchange. Chapter III. The Rise and Fall of Exchange Rates 25 Operation of the five main influences tending to make exchange rise as opposed to the five main influences tending to make Chapter IV. The Various Kinds of Exchange 45 A detailed description of Commercial Long Bills Clean Bills Commercial Short Bills Drafts drawn against securities sold abroad Bankers demand drafts Bankers long drafts. Chapter V. The Foreign Exchange Market 59 How the exchange market is constituted. The bankers dealers and brokers who make it up. How exchange rates are established. The relative importance of different kinds of exchange. How Money Is Made in Foreign Exchange. The Operations of Chapter VI. 68 the Foreign Department An intimate description of Selling demand bills against remittances of demand bills Selling cables against remittances of demand bills Selling demand drafts against remittances of long exchange The operation of lending foreign money here The drawing of finance bills Arbitraging in Foreign Exchange Dealing in exchange futures. Chapter VII. Gold Exports and Imports 106 The primary movement of gold from the mines to the markets and its subsequent distribution along the lines of favorable exchange rates. Description with presentation of actual figures of The export of gold bars from New

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