Regulation of issues by Stock Exchange Committee--Danger arising
therefrom--Difficulty of controlling capital--Best remedy is keener
appreciation by issuing houses, borrowers, and investors of evils of bad
finance--Candour in prospectuses--War as financial schoolmaster--War as
destroyer of capital--War as stimulator of productive activity

INDEX




INTERNATIONAL FINANCE




CHAPTER I


CAPITAL AND ITS REWARD

Finance, in the sense in which it will be used in this book, means the
machinery of money dealing. That is, the machinery by which money which
you and I save is put together and lent out to people who want to borrow
it. Finance becomes international when our money is lent to borrowers in
other countries, or when people in England, who want to start an
enterprise, get some or all of the money that they need, in order to do
so, from lenders oversea. The biggest borrowers of money, in most
countries, are the Governments, and so international finance is largely