1 Introduction 1
The City 1
2 The Banking System （The London Money Market） Part 1 9
The Bank of England 9
The Nationalisation of the Bank 18
Monetart Control 19
3 The Banking System (The London Money Market) Part 2 29
The Other Banks 29
Banking Policy 31
The Clearing System 35
Accepting Houses and the Discount Market 36
Treasury Bills 41
The Euro-dollar Market 43
4 The Capital Market 50
Savings and Investments 50
Short-and Long-Term Credit 51
The New Issue Market 52
Investment Trusts and Unit Trusts 56
5 The Stock Exchange 62
Organisation of the Stock Exchange 64
Brokers and Jobbers 66
The Choice for the Investor 68
Transfers and Settlements 73
Settlements and Accounts 74
‘Bulls’,‘Bears’ and ‘Stags’ 75
The Importance of the Stock Exchange 77
6 Foreign Exchanges 83
Rates of Exchange 83
The Foreign Exchange Market 84
The Gold Standard 86
The Balance of Payments 92
Stabilisation Funds 96
Spot and Forward Exchanges 98
Foreign Exchange Control 99
The Sterling Area 103
7 Shipping and Marine Insurance 113
The Merchant Navy 113
Changes and Problems 113
The Baltic Exchange 117
Lloyd’s 119
8 Foreign Trade 133
Imports and Exports 133
The Terms of Trade 137
Distribution and Organisation of Foreign Trade 138
Statistics 141
Customs and Excise Duties 142
Bonded Warehouses and Drawback 145
Free Ports 148
Import and Export Controls 149
9 Markets 158
The Commodity Markets 158
Spot and Futures Markets 160
Hedging 162
How the Markets Work 163
10 Distribution and Marketing 177
Self-service Stores and Supermarkets 177
Branded Goods and Patents 183
Resale Price Maintenance 186
Hire Purchase 189
Consumer Guidance 191
Standardisation 194
Market Research 196
Advertising 201
11 Organisations in Trade and Industry 211
Rationalisation 211
Cartels and Trusts 212
Employers’ Organisations 217
The Trade Unions and the TUC 220
12 Industrial Relations 229
Wage Agreements and Arbitration 229
Cost of Living Index 230
Strikes and Lockouts 233
Incentive Schemes 235
Equal Pay 239
Human Relations 241
Automation 245
Nationalisation 247
13 Monopolies and Restrictive Practices 260
Monopolies and Restrictive Practices in Trade and Industry 260
The Monopolies Commission 261
The Restrictive Trade Practices Act of 1956 263
The Monopolies and Mergers Act 1965 265
Restrictive Practices in the Trade Unions 266
14 Economic Problems 275
Trade Cycles 275
Employment and Unemployment 279
Planned or Free Economy 283
Planning in Britain 285
Competition versus Monopoly 289
Currency Fluctuations 292
15 International Problems 301
International Co-operation 301
The World Bank 302
The International Monetary Fund (IMF) 303
International Liquidity Shortage 305
General Agreement on Tariffs and Trade (GATT) 307
The Reconstruction of Europe 308
Britain and the Common Market 316
Index 328