Abstract

The Principles of Bond Investment

This article provides information on the book "The Principles of Bond Investment," by Lawrence Chamberlain. An exceptional interest should attach to the negotiable bond in the minds of Americans, for, it was reserved for the New World to develop to the full the sealed instrument's latent capabilities. A security still virtually unknown to English common law, the modern negotiable bond was conceived in the peculiar necessities of early American finance, and bravely and wisely nurtured by the Federal courts. Here an effort has successfully been made to seize the fundamental principles of investment and to show how aptly bonds conform to them. The importance of bonds as a channel of investment is illustrated by the extension of jurisprudence within the past half-century to embrace the exigencies, arising from this new mode of financing.