Letter to Charles Wood, Esq., M.P., on Money, and the Means of Economizing the Use of itP. Richardson, 1841 - 106 páginas |
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Letter to Charles Wood, Esq. , M. P. , on Money, and the Means of ... George Warde Norman No hay ninguna vista previa disponible - 2020 |
Letter to Charles Wood, Esq., M.P., on Money, and the Means of Economizing ... George Warde Norman No hay ninguna vista previa disponible - 2016 |
Términos y frases comunes
adjust amount of bank-notes amount of coin amount of money arise Bank of England banker banker's books banking expedients banking reserve barter bills of exchange book credits bullion capital circumstances Clearing-House coin and Bank-notes coin and notes coin or Bank-notes coin or notes commodities contraction contrivances convertibility debt demand deposit accounts depositor deposits difference discharge discredit dities economizing expedients economizing money effect employed equal amount existing export extent fall favourable exchange foreign gold and silver Hamburg hands important increase issuers issuing banks legislative less loans matter means medium of exchange ment metallic circulation metallic currency metallic money monetary functions necessarily opinion paid paper-money payment perform period portion possess precious metals principles pro tanto produce proportion quantity of money racter rate of interest regulation rency render reserve respects secure seignorage sets-off siderable period sovereigns supposing things tion transactions turbed usually whole
Pasajes populares
Página 34 - If bank notes are withdrawn from circulation, their place must necessarily be supplied by an equal amount of coin ; but the abolition of any, or of all of the contrivances for dispensing with the use of money, will not necessitate the introduction in their place of an equal amount of coin or bank notes.
Página 86 - I have the honour to be, my dear sir, Your most obedient humble servant, DERBY.
Página 95 - I advisedly pass over the question should the treasure in the Bank of England increase and decrease in equal proportion with its own notes or in equal proportion with the whole...
Página 12 - That it is an accurate measure of value from the highest to the lowest degree. 4th. And as a corollary, That it is in universal demand and forms the general medium of exchange. The final result of its possessing these properties is that the civilized part of mankind, at all times and in all places, are willing to receive it to any extent in exchange for all articles which they may wish to sell.
Página 72 - On the whole it appears that the extensive use of the various economizing expedients in this country, where they are employed to so enormous an extent, may produce occasionally very striking phenomena. They and the use made of them are commonly pointed out by the phrases — the state of credit, low credit, high credit, &c., and we often see, without any alteration in the real money of the country, great changes take place in the state of the money-market and of the prices of particular commodities,...
Página 20 - There is one circumstance worth attention on account of its tendency to increase the transmission of specie under an adverse exchange. The articles of export which might replace gold and silver are usually few in number, speaking practically, and the increased quantity of such goods received by the creditor country lowers their price in it to an extent which, partially at least, lessens the effect produced by the enlargement of its currency.
Página 95 - ... on the fancy or caprice of those who have to administer the currency ; while I think that the contraction should be connected with a self-acting machinery, that it should be regulated simply by the state of the English currency, compared with that of the currencies of other countries as tested by the exchanges ; in other words, that it should exactly conform to what would occur had we only metallic money.
Página 43 - A buys cotton of B at 10 per cent, in advance on the previous price payable at three months, and gives his acceptance for the amount. At the close of this period or after one or more renewals the bill must be paid out of the currency in existence, and if there is not enough money to sustain such a price, a fall in prices must ensue, and B " effects, being so much larger a proportion of the whole
Página 104 - ... one another at the will of the public, the result being that the notes would conform to all the variations of a metallic currency, and would only differ from it in being less costly and more convenient. 3. That with a system of unsecured competing issues occasional insolvency and discredit on the part of some issuers are almost unavoidable, and that under it it is almost impossible to attain a perfect conformity to the variation of a metallic currency. 4. That for the...
Página 30 - During a favourable exchange it is equally so, for then with a metallic currency the gold imported would be added to the circulation ; while at present, in such a state of things, prices fall, and the rate of interest being usually low, loans are redeemed, advances are paid off, and the paper circulation is thus kept down. The experience of the last few years furnishes us abundance of facts confirmatory of this theoretic view of the subject.