Placid bays, steeply forested shorelines, breaching whales, dynamic urban centers -- Western Washington's Puget Sound region captivates with its magic.
The early 1900s U.S. saw considerable seasonal variations in the balance of trade, primarily caused by the annual agricultural cycle. This examination of the New York money market demonstrates that the frequent fluctuations in monetary conditions were caused by variations in the trade flows rather than capital movements by banks.
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