Mises Search

The purpose of this 1931 textbook is two-fold: to develop the principles of bank credit considered in the abstract and to set forth the main factors underlying the loans made, the credit extended, by banks to borrowers. Part One is devoted mainly to an explanation of the way in which cash in banks becomes the basis of manifold loans and deposits,

This rare study by C.A. Phillips, together with T.F. McManus and R.W. Nelson, appeared in 1937 as an Austrian-style analysis of the stock market crash and the great depression that followed. It explores the many theories tossed about at the time, and concludes that the theory “here developed may be called a ‘central banking’ explanation of the