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    High Finance
    High Finance
    High Finance
    Ebook41 pages28 minutes

    High Finance

    By Otto Hermann Kahn

    ()

    Read preview
    LanguageEnglish
    PublisherArchive Classics
    Release dateNov 26, 2013
    High Finance

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      Book preview

      High Finance - Otto Hermann Kahn

      The Project Gutenberg EBook of High Finance, by Otto H. Kahn

      This eBook is for the use of anyone anywhere at no cost and with

      almost no restrictions whatsoever. You may copy it, give it away or

      re-use it under the terms of the Project Gutenberg License included

      with this eBook or online at www.gutenberg.net

      Title: High Finance

      Author: Otto H. Kahn

      Release Date: June 27, 2009 [EBook #29256]

      Language: English

      *** START OF THIS PROJECT GUTENBERG EBOOK HIGH FINANCE ***

      Produced by The Online Distributed Proofreading Team at

      http://www.pgdp.net (This file was produced from images

      generously made available by The Internet Archive/American

      Libraries.)

      High Finance

      Otto H. Kahn

      Address Delivered at Annual Dinner

      American Newspaper Publishers Association

      April 27, 1916, Waldorf-Astoria, New York

      HIGH FINANCE

      I

      The term high finance derives its origin from the French haute finance, which in France as elsewhere in Europe designates the most eminently respectable, the most unqualifiedly trustworthy amongst financial houses.

      Why has that term, in becoming acclimated in this country, gradually come to suggest a rather different meaning?

      Why does there exist in the United States, alone amongst the great nations, a widespread attitude of suspicion, indeed in many quarters, of virtual hostility, toward the financial community and especially toward the financial activities which focus in New York, the country's financial capital?

      There are a number of causes and for some of them finance cannot be absolved from responsibility. But the primary underlying and continuing cause is lack of clear appreciation of what finance means and stands for and is needed for. And from this there has sprung a veritable host of misconceptions, prejudices, superstitions and catch-phrases.

      Never was it of more importance than in the present emergency that the people should have a clear and correct understanding of the meaning and significance of finance, indeed of high finance, and that they should approach the subject calmly and dispassionately and with untroubled vision, for when the European war is over and the period of reconstruction sets in, one of the most vital questions of the day will be that of finance and financing.

      The handling and adjustment of that question, although it primarily concerns Europe, cannot fail to affect America favorably or unfavorably, according to the wisdom or lack of wisdom of our own attitude and actions.

      A great many things are being and have been charged

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