Deposits made in banks greatly Overcount trade.
"The Value of Money"
Benjamin M. Anderson, Jr.
And New York clearings do not Overcount New York check deposits.
"The Value of Money"
Benjamin M. Anderson, Jr.
The figures do not prove my thesis that brokers' deposits greatly Overcount their sales, but they at least show that they do not greatly undercount them.
"The Value of Money"
Benjamin M. Anderson, Jr.