A Select Collection of Scarce and Valuable Tracts and Other Publications, on Paper Currency and Banking: From the Originals of Hume, Wallace, Thornton, Ricardo, Blake, Huskisson, and Others ; with a Preface, Notes, and IndexLord Overstone, 1857 - 684 pages |
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A Select Collection of Scarce and Valuable Tracts and Other Publications, on ... John Ramsay McCulloch No preview available - 2015 |
Common terms and phrases
abroad amount appears arising augmentation balance of trade bank notes Bank of England Bank of Ireland bank paper bankers bills of exchange Britain capital cash payments cause cent circulating medium circumstances commercial Committee commodities computed exchange consequence considerable considered continue convertible country banks debt degree demand depreciated currency depreciation difference diminished diminution Directors discount effect Emissions England notes England paper evil excess expense export favour fluctuations foreign bills gold and silver Gold Bullion gold coin guineas Hambro Hamburgh high price imports increased interest issue legal tender less loans London manufactures market price mercantile merchants millions mint price nominal exchange occasion ounce paper credit paper currency Paper Money Parliament period pound precious metals present price of bullion price of Gold principles produce profit proportion purchase quantity of gold real exchange reduced rendered sell specie supply suppose suspension tion transactions unfavourable
Popular passages
Page 469 - ... augmentation of prices upon all money transactions for time; the unavoidable injury suffered by annuitants, and by creditors of every description, both private and public; the unintended advantage gained by Government and all other debtors; are consequences too obvious to request proof, and too repugnant to justice to be left without remedy.
Page 245 - It is not by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country.
Page 61 - Suppose that there are 12 millions of paper, which circulate in the kingdom as money (for we are not to imagine that all our enormous funds are employed in that shape), and suppose the real cash of the kingdom to be...
Page 408 - It will be found by the evidence, that the high price of gold is ascribed, by most of the witnesses, entirely to an alleged scarcity of that article, arising out of an unusual demand for it upon the continent of Europe. This unusual demand for gold upon the continent is described by some of them as being chiefly for the use of the French armies, though increased also by that state of alarm, and failure of confidence, which leads to the practice of hoarding.
Page 305 - ... whole at last reaches a just proportion with the new quantity of specie which is in the kingdom. In my opinion it is only in this interval, or intermediate situation, between the acquisition of money and rise of prices...
Page 436 - on which we make our advances. " Do you advert to these two circumstances with a view " to regulate the general amount of your advances ? — I do " not advert to it with a view to our general advances, " conceiving it not to bear upon the question.
Page 419 - In this manner, a general rise of all prices, a rise in the market price of Gold, and a fall of the Foreign Exchanges, will be the effect of an excessive quantity of circulating medium in a country which has adopted a currency not exportable to other countries, or not convertible at will into a Coin which is exportable.
Page 437 - ... much more unfavourable, the notes of the Bank of England, as well as those of the country Banks,, have been very considerably increased. Your Committee however, on the whole, are not of opinion that a material depression of the Exchanges has been manifestly to be traced in its amount and degree to an augmentation of notes corresponding in point of time. They conceive, that the more minute and ordinary fluctuations of Exchange are generally referable to the course of our commerce ; that political...
Page 221 - The country, therefore, which has the favourable balance, being, to a certain degree, eager for payment, but not in immediate want of all that supply of goods which would be necessary to pay the balance, prefers gold as part, at least, of the payment; for gold can always be turned to a more beneficial use than a very great overplus of any other commodity.
Page 370 - Mr. Thornton has not explained to us, why any unwillingness should exist in the foreign country to receive our goods in exchange for their corn; and it would be necessary for him to show, that if such an unwillingness were to exist, we should agree to indulge it so far as to consent to part with our coin. If we consent to give coin in exchange for goods, it must be from choice, not necessity. We should not import more goods than we export, unless we had a redundancy of currency, which it therefore...