The Bank of England: And the Organisation of Credit in England |
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Page 4
... whole question , the fact be borne in mind that , the Issue Depart- ment is quite separate and distinct from the Bank of England , and is wholly and entirely an office of the State for the manufacture of bank- notes , as the Royal Mint ...
... whole question , the fact be borne in mind that , the Issue Depart- ment is quite separate and distinct from the Bank of England , and is wholly and entirely an office of the State for the manufacture of bank- notes , as the Royal Mint ...
Page 31
... whole . But it may happen that , even though the merchant pay his debt , and no loss of capital ensue to the bank , yet it may be a loss of capi- tal to him . Thus , when he bought the goods on credit , and gave his acceptance for them ...
... whole . But it may happen that , even though the merchant pay his debt , and no loss of capital ensue to the bank , yet it may be a loss of capi- tal to him . Thus , when he bought the goods on credit , and gave his acceptance for them ...
Page 32
... whole community . And the great general result to the community is absolutely the same , whether the loss of capital fall upon the individual or upon the bank . The capital of the Nation is diminished , but the cur- rency remains the ...
... whole community . And the great general result to the community is absolutely the same , whether the loss of capital fall upon the individual or upon the bank . The capital of the Nation is diminished , but the cur- rency remains the ...
Page 56
... whole year exceeding 7 per cent . ! That all these derangements of the currency and consequent losses might have been pre- vented will be the judgment of posterity . It is impossible , however , in the face of these facts , to assume ...
... whole year exceeding 7 per cent . ! That all these derangements of the currency and consequent losses might have been pre- vented will be the judgment of posterity . It is impossible , however , in the face of these facts , to assume ...
Page 83
... whole City on the verge of ruin , - one thing , and one thing only stood unshaken . Bank Directors had lent away all their deposits ; the Bank reserve was gone ; commerce in vain shrieked for more relief ; the Bank tottered to its ...
... whole City on the verge of ruin , - one thing , and one thing only stood unshaken . Bank Directors had lent away all their deposits ; the Bank reserve was gone ; commerce in vain shrieked for more relief ; the Bank tottered to its ...
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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 capitalists cent coin and bullion coinage commerce commodities consequence credit money currency Debt demand deposits diminish effect Émile 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...