This what's called a Stock Book in philatelics. It's used to store stamps in any way possible. I have stamp albums that are cataloged by Scott Numbers by year, set, and country. I'll share my cataloged albums a little later.
As you can see I've placed and organized my stamp collection that pleases me. At any point, my Stock Book could be re-arranged to my satisfaction.
Each page has a number of rows and are protected with glassine sleeves. I don't know why but the Stock Books are made (At least the best quality ones) in Germany and are hand binded and the spine stitched as well.
The blue Stock Book is brand new and haven't been used yet. The red Stock Book was purchased in 2003. I've also taken the opportunity in how stamps are protected and easily displayed.