"The whole profit of the issuance of money has provided the capital of the great banking business as it exists today"
- Frederick Soddy
About this Quote
In this quote, Frederick Soddy recommends that the main resource of capital for the modern financial industry is the revenue made from the issuance of cash. He implies that the financial system has benefited immensely from the power to develop and also manage the cash supply, which has actually enabled it to produce substantial earnings as well as collect significant funds. Soddy's declaration highlights the essential duty of money production in the advancement of the modern economy and emphasizes the significance of comprehending the operations of the banking and also financial systems.
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