Banks and banking -- Great Britain; Finance -- Great Britain
There are two ways of reading a Money Article. The first, and probably
by far the most popular method, is merely to glance at, or “skip
over,” the information respecting the condition of the Money Market,
the price of money, the discount of bills, foreign exchanges, Bank
Return, etc., and to turn to the supposedly more interesting subject of
the fluctuations in prices on the Stock Exchange, and especially of the
prices of those securities in which the reader has a pecuniary interest.
The other method of reading these articles, and certainly the most
profitable method, is to read thoughtfully _all_ the information, and
to note the connection of cause and effect in relation to the various
items mentioned; in fact, to read the articles as a homogeneous whole,
and not simply to dip into them here and there; and the reader who so
reads his Money Article will be surprised to find what an insight into
the present and, to a certain extent, the future financial position he
acquires thereby.
The City Editor of a paper has a vast amount of information to supply
to the public, and a limited amount of space in which to present
that information, and the result is that these articles are usually
decidedly “terse”—not to say abrupt—in style: a fact is briefly stated,
and the probable effect of such fact is added, though no information is
given as to why such an effect should result from such a cause, which
is left to the reader to fathom out as best he can.
Money Articles may be roughly divided into two sections: the first
deals with the Money Market proper, the foreign exchanges, gold
movements, etc., and the second with Stock Exchange matters. These two
sections may appeal to somewhat different classes of the community; but
the connection between them is so intimate, and they act and react on
each other so frequently, that they cannot be dissociated. The first
section of the article more nearly affects the subject-matter of this
book than the latter portion, which is amply dealt with in another book
of this series.
Money Articles almost invariably commence with a paragraph which
is really a general summary of the events which have transpired in
the Money Market on the day of writing. The first paragraph, though
consisting of only a few lines, often teems with information to those
that can read it aright. Nearly all the subjects with which it deals
have been dealt with in the course of this book, and therefore it will
only be necessary to enumerate them here.
Public-domain text, read in full here on John Shaqi.
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