|Other titles||Australian monetary system, 1788-1851.|
|The Physical Object|
|Pagination||xvi, 727 p.|
|Number of Pages||727|
|LC Control Number||70061706|
Get this from a library! Foundations of the Australian monetary system, [S J Butlin] -- Begins with the development of local currency in New South Wales, and the growth of private and savings banks in Australia. Genre/Form: History: Additional Physical Format: Online version: Butlin, Sydney James. Foundations of the Australian monetary system, [Carlton] Melbourne University Press . Foundations of The Australian Monetary System Author: S J Butlin Publisher: George Robertson Date: The Pattison Collection, along with other items at Flagstaff Hill Maritime Village. Foundations of the Australian Monetary System Butlin, S. J. () University of Sydney Library Sydney, Australia
The implementation of monetary policy. Monetary policy is set in terms of an operating target for the cash rate, which is the interest rate on overnight loans made between institutions in the money market. When the Reserve Bank Board decides that a change in monetary policy should occur, it specifies a new target for the cash rate. A commodity money system is a monetary system in which a commodity such as gold or seashells is made the unit of value and physically used as money. The money retains its value because of its physical properties. In some cases, a government may stamp a metal coin with a face, value or mark that indicates its weight or asserts its purity, but the value remains the same even if the coin is. The history of Australian currency commences with the first European settlement of Australia on 26 January At the time, New South Wales was a British colony, and the English currency was in formal circulation, though the supply was insufficient and alternative forms of exchange were resorted to. 16 hours ago In fact, far more was achieved. Ireland’s crisis was, it must be said, largely of its own making. The economic and political rot had penetrated the foundations long before the banks started to.