An Enquiry Into the Nature and Effects of the Paper Credit of Great BritainJ. Hatchard, 1802 - 320 pages |
Other editions - View all
An Enquiry Into the Nature and Effects of the Paper Credit of Great Britain Henry Thornton No preview available - 2017 |
An Enquiry Into the Nature and Effects of the Paper Credit of Great Britain Henry Thornton No preview available - 2008 |
Common terms and phrases
abroad additional afford alarm amount arise assignats augmentation balance of trade Bank of England bank paper banker bills of exchange borrowers Britain bullion price capital cash payments cause cent CHAP circulating medium circumstance coin commercial consequence considerable considered country bank notes country paper debt degree demand diminished diminution discount dities effect encrease England notes England paper enlarge evil excess exchequer bills expence fluctuations foreign guineas Hamburgh high price holder interest issue of paper kingdom labour lately lend less limitation loans manner manufactures market price means ment mercantile merchants metropolis millions necessary neral observed paper credit period pound weight price of articles price of commodities price of gold principle produce profit proportion quan quantity of Bank quantity of gold quantity of paper reduction rendered rise seignorage sell shewn Smith sufficient supply suppose suspension tion transactions unfavourable balance
Popular passages
Page 311 - Must not the price of all labour and commodities sink in proportion, and everything be sold as cheap as they were in those ages? What nation could then dispute with us in any foreign market, or pretend to navigate or to sell manufactures at the same price, which to us would afford sufficient profit?
Page 204 - ... an ounce, losing in this manner between two and a half and three per cent upon the coinage of so very large a sum.
Page 30 - In answer to this statement it may be observed, first, that the notes given in consequence of a real sale of goods cannot be considered as on that account certainly representing any actual property. Suppose that A sells 1001. worth of goods to B at six months' credit, and takes a bill at six months for it; and that B, within a month after, sells the same goods, at a like credit, to C, taking a like bill ; and again, that C, after another month, sells them to D, taking.a like bill, and so on.
Page 271 - So that when corn rises to treble the common rate, it may be presumed that we want above one-third of the common produce ; and if we should want five-tenths, or half the common produce, the price would rise to near five times the common rate.
Page 205 - ... metals in coin. But, in every country, the greater part of the current coin is almost always more or less worn, or otherwise degenerated from its standard. In Great Britain it was, before the late reformation, a good deal so, the gold being more than two per cent and the silver more than eight per cent below its standard weight.
Page 309 - That provisions and labour should become dear by the encrease of trade and money, is, in many respects, an inconvenience; but an inconvenience that is unavoidable, and the effect of that public wealth and prosperity which are the end of all our wishes.
Page 310 - But there appears no reason for encreasing that inconvenience by a counterfeit money, which foreigners will not accept of in any payment, and which any great disorder in the state will reduce to nothing. There are, it is true, many people in every rich state who having large sums of money, would prefer paper with good security; as being of more easy transport and more safe custody. If the public provide not a bank, private bankers will take advantage of this circumstance; as the goldsmiths formerly...
Page 131 - 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...
Page 45 - ... to erect and to maintain than the old one. But in what manner this operation is performed, and in what manner it tends to...
Page 309 - And in general we may observe, that the dearness of every thing, from plenty of money, is a disadvantage which attends an established commerce, and sets bounds to it in every country, by enabling the poorer states to undersell the richer in all foreign markets.