A serious study of American banking methods, the changes necessary to establish stability, the broad phases of the flow of money, with frequent references to Keynes and other authorities. English banking history from 1797 to the present; Joint-Stock Banks from 1825 to today; the benefits and flaws of our own 1933-35 banking act. Necessity and desirability of controlling the direction in which bank credit flows in addition to its aggregate amount. Standards for guidance in control. An important book for monetary and economic theorists and serious-minded bankers and students of finance.