A History of Interest Rates: 2000 B.C. to the Present (1963)Sidney Homer
Book Description: Rutgers University Press, New Brunswick, NJ, 1963. Hardcover. 1st Edition. 8vo - over 7¾ - 9¾" tall. Hardcover, Red cloth boards with gilt title to spine, First Edition, 1963, 617 pages.
Book Condition: Very Good, covers rubbed and slight dark mark to front cover, white mark 1 in. x 1/16 in. on back cover near edge (see photo), corners gently bumped, light shelfwear, top dust dulled, some light soil/stains to text blocks, front endpapers tanned, gift inscription from previous owner's broker at Solomon Brothers & Hutzler and Solomon sticker to front endpapers, some light foxing to first few pages, some light tanning to pages otherwise free of marks,
Dust Jacket Condition: Good, price intact (NOT price clipped), covers rubbed and light soil, some small rips and tears, but nothing over 1/4 in.
Contents: Acknowledgments, Summary Tables, Charts, Introduction, PART ONE. ANCIENT TIMES: Chapter I. Prehistoric and Primitive Credit and Interest, II. Mesopotamia: Sumer, Babylonia, and Assyria, III. Greece, IV. Rome, V. A Summary and Analysis of Ancient Interest Rates, PART TWO. MEDIEVAL AND RENAISSANCE INTEREST RATES: VI. Usury Doctrines and Their Effect on European Credit Forms and Interest, VII. The Dark Ages, VIII. Late Medieval Times, IX. The Renaissance, X. A Summary and Analysis of Medieval and Renaissance Interest in Western Europe, PART THREE. MODERN EUROPE AND NORTH AMERICA TO 1900: XI. England in the Eighteenth Century, XII. Europe in the Eighteenth Century, XIII. England in the Nineteenth Century, XIV. France in the Nineteenth Century, XV. Other European Countries in the Nineteenth Century, XVI. The United States in the Eighteenth and Nineteenth Centuries, PART FOUR. WESTERN EUROPE AND NORTH AMERICA SINCE 1900: XVII. The United States in the Twentieth Century, XVIII. England in the Twentieth Century, XIX. Europe in the Twentieth Century, XX. Canada in the Twentieth Century, XXI. Summary and Analysis of Interest Rates in Western Europe and North America Since 1900, PART FIVE. OTHER COUNTRIES: XXII. China, XXIII. Japan, XXIV. Russia, XXV. Modern Italy, Austria, Portugal, Spain, Turkey, Egypt, Norway, and Denmark, XXVI. Sterling Area: Australia, New Zealand, South Africa, Ireland, India, and Pakistan, XXVII. Latin America, Notes, Index -- end. Extensive tables (81) and charts (73). Synopsis: A History of Interest Rates presents a very readable account of interest rate trends and lending practices over four millennia of economic history. Despite the paucity of data prior to the Industrial Revolution, author Homer provides a highly detailed analysis of money markets and borrowing practices in major economies. Underlying the analysis is his assertion that the free market long-term rates of interest for any industrial nation, properly charted, provide a sort of fever chart of the economic and political health of that nation. Given the enormous volatility of rates in the 20th century, this implies we're living in age of political and economic excesses that are reflected in massive interest rate swings.
About the Author: Sidney Homer was a partner in the investment firm of Salomon Brothers & Hutzler, New York. A graduate of Harvard, he was formerly president of Homer & Co., Inc., bond dealers, then manager of the institutional department of the investment counsel firm of Scudder, Stevens & Clark. Mr. Homer's entire business career since the 1920's had been directed to dealings in financial instruments. He has published numerous reports and analysis of contemporary interest rate trends which have been followed closely by many institutional investors. He devoted twenty-five years to compiling the data for this history, in the course of which he has consulted and been assisted by many scholars, bankers, and government officials here and abroad. -- Highly Collectible First Edition. (book covers interest rates up to 1963.
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