Considerations on Commerce, Bullion & Coin, Circulation, and Exchanges: With a View to Our Present Circumstances

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Luke Hansard & Sons, 1811 - 237 Seiten

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Seite 83 - Committee to involve a misconception, which they think it important to explain. In this Country, Gold is itself the measure of all exchangeable value, the scale to which all money prices are referred. It is so, not only by the usage and commercial habits of the country, but likewise by operation of law, ever since the Act of the 14th of His present Majesty...
Seite 172 - Your Committee having further examined the Governor and Deputy Governor, as to what may be meant by the political Circumstances mentioned in that Resolution, find, that they understand by them, the state of Hostility in which the Nation is still involved, and particularly such Apprehensions as may be entertained of Invasion, either in Ireland or this Country, together with the possibility there may be of Advances being to be made from this Country to Ireland ; and that from those Circumstances so...
Seite 197 - Exchange ; and in particular, that the first remarkable depression of it in the beginning of 1809, is to be ascribed, as has been stated in the evidence already quoted, to commercial events arising out of the occupation of the North of Germany by the troops of the French emperor. The evil has been, that the Exchange, when fallen, has not had the full means of recovery under the subsisting system.
Seite 180 - Committee, have exercised the new and extraordinary discretion reposed in them since 1797, with an integrity and a regard to the public interest, according to their conceptions of it, and indeed a degree of forbearance in turning it less to the profit of the Bank than it would easily have admitted of, that merit the continuance...
Seite 158 - But the whole fallacy of the argument turns upon comparing bank notes to what they do not resemble, and what they ought not to be compared to, viz. to goods, or to securities, or documents for debts. Now they are not goods, not securities, nor documents for debts, nor are so esteemed: but are treated as money, as cash, in the ordinary course and transaction of business, by the general consent of mankind; which gives them the credit and currency of money, to all intents and purposes. They are...
Seite 171 - ... with Hamburgh is, at present, unusually favourable to this country, and that, from the situation of our trade, there is good reason to imagine it will so continue, unless political circumstances should occur to affect it. Your Committee next proceeded to examine the Governor and Deputy Governor of the Bank, as to their opinion of the inconvenience which may have arisen from the restriction imposed on the Bank from making payment in cash, and of the expediency of continuing such restriction; and...
Seite 158 - But; are treated as money, as cash; in " the ordinary course, and transaction of business, " by the general consent of mankind ; which gives " them the credit, and currency of money to ALL
Seite 172 - Bank, and with advantage to the Nation. "Your Committee, therefore, having taken into consideration the general situation of the country, are of opinion, that notwithstanding the affairs of the Bank, both with respect to the general balance of its Accounts, and its capacity of making payments in Specie, are in such a state that it might with safety resume its accustomed functions, under a different state of public affairs; yet, that it will be expedient to continue the restriction now subsisting...
Seite 213 - Let not a torrent of impetuous zeal Transport thee thus beyond the bounds of reason : True fortitude is seen in great exploits. That justice warrants, and that wisdom guides, All else is towering frenzy and distraction.
Seite 172 - ... state of hostility in which the nation is still involved, and particularly such apprehensions as may be entertained of invasion, either in Ireland or this country, together with the possibility there may be of advances being to be made from this country to Ireland; and that from those circumstances so explained, and from the nature of the war and the avowed purpose of the enemy to attack this country by means of its public credit, and to distress it in its financial operations, they are led to...

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