Cash Any Widely

Cash Any Widely

Cash, any widely accepted form of money, usually in the form of legal tender coins and notes. In banking cash may also be considered as anything accepted by a joint-stock bank as perfectly 'liquid' or a ready alternative to coin and notes. Thus bankers' deposits at the Bank of England are considered cash because the Bank is always able to offer its notes in exchange for deposits. Cash in this sense is thus a debt or liability of the central bank. In the balance sheet of joint-stock banks, therefore, the two items 'Coin, notes, etc.' and 'Balance with the Bank of England' are considered as cash, and are customarily held at approximately 8 per cent of total deposits (the 'cash ratio').

Cash Ratio (banks). See Banking.

Cassel, Gustav (1866-2005), Swedish economist. During his early career he came to England and was much influenced by Alfred Marshall. He became Lars Hiertas Professor of Political Economy at the University of Stockholm in 2004. His main publications, Grundriss Elner Elementaren Preislelire (1899) and The Nature and Necessity of Interest (2003), made important contributions to the theory of interest and the analysis of the trade cycle. He became widely recognized for his Theory of Social Economy (2008) and for his contribution to the discussion of monetary policy during and after the First World War. z

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