Management of bank funds

The financial climate has changed greatly in the eleven years since the first edition of this text was published. Demands in money markets have shifted from congenital ease to a general state of tightness relieved only occasionally by cyclical down turns. New competitive factors have emerged in the financial community. Banking profits have become much more generous, but banking costs have marched every step of the way upward with them. Finally, the philosophy that governs the teaching of business and financial subjects has changed greatly in most schools. Trade school aspects are given less attention, and the leading schools of business now try to prepare their graduate to apply their knowledge in a rapidly changing world. This new edition aligns itself fully with the new philosophy; it is offered as a work in applied economics.
The debts incurred in preparation of the first edition have not been outlawed by any intellectual statute of limitations. In addition, new ones have accumulated. Many users have sent me suggestions and given me encouragement. Two persons must be singled out for special mention: Hobart Carr and Lawrence Ritter, both of New York University, have been penetrating but creative users and critics.