The Bank of England: And the Organisation of Credit in England |
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Page 79
... want of gold in this country since the resumption of Cash - payments in 1819 . The want has always been of bank - notes con- vertible into gold on demand . The want of gold has never been as money , but as a commodity , or article of ...
... want of gold in this country since the resumption of Cash - payments in 1819 . The want has always been of bank - notes con- vertible into gold on demand . The want of gold has never been as money , but as a commodity , or article of ...
Page 81
... wants of the community is manifestly beyond the power of human foresight and design . All that can be wisely done is to allow an ample margin to meet present wants and probable contingencies , to be from time to time enlarged or reduced ...
... wants of the community is manifestly beyond the power of human foresight and design . All that can be wisely done is to allow an ample margin to meet present wants and probable contingencies , to be from time to time enlarged or reduced ...
Page 86
... wants of the public for effecting their ordinary transactions , and the public were willing to hold those notes , and not to send then in for payment , as long as the number did not exceed the want , simply for their usefulness , as ...
... wants of the public for effecting their ordinary transactions , and the public were willing to hold those notes , and not to send then in for payment , as long as the number did not exceed the want , simply for their usefulness , as ...
Page 92
... wants of the country . The Act assumes a want of gold without the means of getting it ; whereas , the want has been of Bank of England notes only ; because , with these notes there has never been any difficulty in getting gold in the ...
... wants of the country . The Act assumes a want of gold without the means of getting it ; whereas , the want has been of Bank of England notes only ; because , with these notes there has never been any difficulty in getting gold in the ...
Page 93
... wants of the country , have not been productive of a single advantage which was not enjoyed before ; and the inflexible line which was then drawn has inflicted incalculable evils on the whole country . If the line for the credit issues ...
... wants of the country , have not been productive of a single advantage which was not enjoyed before ; and the inflexible line which was then drawn has inflicted incalculable evils on the whole country . If the line for the credit issues ...
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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...