When the saver needs his money back, he does not have to go to the company with whom he originally placed it. Instead, he sells his shares through a stockbroker to some other saver who is seeking to invest his money.

       Many of the services needed both by industry and by each of us are provided by the government or by local authorities. Without hospitals, roads, electricity, telephones, railways, this country could not function. All these require continuous spending in new equipment and new development if they are to serve us properly, requiring more money than is raised through taxes alone. The government, local authorities, and nationalized industries, therefore, frequently need to borrow money to finance major capital spending, and they, too, come to the Stock Exchange.

       There is hardly a man or woman in this country whose job or whose standard of living does not depend on the ability of his or her employers to raise money to finance new development. In one way or another, this new money must come from the savings of the country. The Stock Exchange exists to provide a channel through which these savings can reach those who need finance.

36.Almost all companies involved in new production and development must ______.

A.      depend on the population as a whole for finance

B.       persuade the banks to provide long-term finance

C.       collect large sums of money from friends and people they know

D.      rely on their own financial resources

37.The money which enables these companies to go ahead with their projects is ______.

A.      repaid to its original owners as soon as possible

B.       raised by the selling of shares in the companies

C.       exchanged for part ownership of the Stock Exchange

D.      invested in different companies on the Stock Exchange

38.When the savers want their money back they _____________.

A.      ask another company to obtain their money for them

B.       turn to other people to borrow money

C.       put their shares in the company back on the market

D.      transfer their money to more successful companies

39.Many essential services on which we depend are ____________.

A.