Elements of Foreign Exchange: A Foreign Exchange Primer

"Elements of Foreign Exchange: A Foreign Exchange Primer" by Franklin Escher is an early 20th-century educational text that explains the complicated world of foreign exchange, making it understandable for beginners. It focuses on how international debts are paid using drafts and bills of exchange while clarifying the roles that merchants and banks play in global trade. The book points out that exchange rates change based on demand and supply because of trade, money moving between countries, and investment. It breaks down the economic ideas that shape the foreign exchange market, offering readers a strong understanding of how it all works.