The Macmillan Report

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Excerpt from The Macmillan Report: A Short Summary of Its Main Points, Prepared for the Guidance of Students Divergence between the interests Of their own country and those of the rest Of the world. Inadequate control Over the monetary machine and its working. Neither the Federal Reserve system, the Bank Of France nor the Reichsbank has as complete a control over the creation Of credit in their respective countries as has the Bank Of England, whose control, within the limits Of the international standard, is remarkably complete Nevertheless, even if the central bank can control the amount of money, it cannot control the uses to which it is put. This is the sphere Of the commercial banks. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.