Includes index.

Part One. Money -- Part Two. Commercial Banking Structure -- Part Three. Commercial Bank Operations -- Part Four. Central Banking in the United States -- Part Five. Monetary Theory -- Part Six. Monetary and Fiscal Policy -- Part Seven. International Payment -- Part Eight. Other Financial Institution.

It is fair, I think, to describe this fifth edition of my textbook as a major revision. Although the outline remains essentially as in the fourth edition, I have added much new material to take account of the extraordinary developments in surprising number- -that have occurred in the past few years, as well as to give new emphasis to ideas, institutions, and problem areas that, though recognized all along and treated in matter-of-fact fashion, have recently taken on greatly increased significance. In addition, much rewriting in individual chapters has been aimed at greater clarity of exposition, better balance, and a more logical sequence of topics; and throughout. of course, I have sought to bring up to date all statistics, analyses of legal provisions and regulations, descriptions of institutional policies and practices, and other factual material.