The Bank of England: And the Organisation of Credit in England |
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Page 17
... exchange for the adjustment of all transactions equally at all times , between all persons , and in all places . It has , further , the quality of discharging those functions in endless succession . Now , I conceive that neither de ...
... exchange for the adjustment of all transactions equally at all times , between all persons , and in all places . It has , further , the quality of discharging those functions in endless succession . Now , I conceive that neither de ...
Page 18
... exchange from the designation of currency , because " they do not possess that power of universal exchangeability which belongs to the money of the country . " It is impossible to imagine a definition more . fatal than this is , to the ...
... exchange from the designation of currency , because " they do not possess that power of universal exchangeability which belongs to the money of the country . " It is impossible to imagine a definition more . fatal than this is , to the ...
Page 20
... Exchange , and a Bank Note is , that the former is a promise of a deferred payment , and the latter that of an immediate one ; and there is less risk in taking the latter than the former . From these circumstances a Bank Note possesses ...
... Exchange , and a Bank Note is , that the former is a promise of a deferred payment , and the latter that of an immediate one ; and there is less risk in taking the latter than the former . From these circumstances a Bank Note possesses ...
Page 21
... Exchange . To all those who hold the doc- trine that Bills of Exchange are not currency , or circulating medium , the answer is short and simple - that even if the allegation were true , it is nothing to the purpose , because it only ...
... Exchange . To all those who hold the doc- trine that Bills of Exchange are not currency , or circulating medium , the answer is short and simple - that even if the allegation were true , it is nothing to the purpose , because it only ...
Page 28
... Exchange . Each of these general divisions , again , is divided into several varieties . The Sovereign , or Pound , is 123 274 grains of standard gold , 22 carats fine , and 2 carats alloy . The sovereign was a new gold coin , made ...
... Exchange . Each of these general divisions , again , is divided into several varieties . The Sovereign , or Pound , is 123 274 grains of standard gold , 22 carats fine , and 2 carats alloy . The sovereign was a new gold coin , made ...
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Common terms and phrases
affairs amount of notes augment Bank Act Bank Charter Act bank notes Bank of Eng Bank of England Bank of France Bank rate bank-notes bankers Banking Department banking reserve Banks of Issue Banque capitalists cent coin and bullion coinage commerce commodities consequence credit money currency Debt demand deposits diminish effect Émile Pereire England notes equal established export fact fixed funds gold and silver increase Isaac Pereire Issue Department issue notes issue of notes Joint-Stock Banks legal tender loanable capital London Lord Overstone loss means ment Michel Chevalier millions monopoly National notes in circulation notes issued operations panic paper money payment precious metals present principle privilege produce profit proportion quantity question raising the rate rate of discount rate of interest regulated render reserve of notes silver coin Sir Robert Peel specie tion trade and industry wants whole Wolowski
Popular passages
Page 829 - ... in all parts of the United States in payment of taxes, excises, public lands, and all other dues to the United States, except for duties on imports; and also for all salaries and other debts and demands owing by the United States to individuals, corporations, and associations within the United States, except interest on the public debt, and in redemption of the national currency.
Page 259 - The property which every man has in his own labor, as it is the original foundation of all other property, so it is the most sacred and inviolable.
Page 830 - ... whenever the lawful money of any other association shall be below fifteen per centum of its [circulation and~\ deposits, such association shall not increase its liabilities by making any new loans or discounts...
Page 654 - ... which he would otherwise be obliged to keep by him unemployed, and in ready money for answering occasional demands.
Page 268 - England to borrow owe or take up any sum or sums of money on their bills or notes payable at demand or at any less time than six months from the borrowing thereof...
Page 657 - The circulation of every country may be considered as divided into two different branches; the circulation of the dealers with one another, and the circulation between the dealers and the consumers.
Page 832 - No association shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith...
Page 828 - Federal reserve bank making such deposit in the manner provided by existing law, shall be entitled to receive from the Comptroller of the Currency circulating notes in blank, registered and countersigned as provided by law, equal in amount to the par value of the bonds so deposited.
Page 460 - ... have on hand, in lawful money of the United States, an amount equal to at least twenty-five per centum of the aggregate amount of its notes in circulation and its deposits...
Page 268 - Be it therefore declared and enacted, that any body, politic or corporate, or society, or company, or partnership, although consisting of more than six persons, may carry on the trade or business of banking in London, or within sixty-five miles thereof...