Historical Sketch of the Bank of England: With an Examination of the Question as to the Prolongation of the Exclusive Privileges of that Establishment, Volume 30 |
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Historical Sketch of the Bank of England: With an Examination of the ... John Ramsay McCulloch No preview available - 2016 |
Historical Sketch of the Bank of England: With an Examination of the ... John Ramsay McCulloch No preview available - 2016 |
Common terms and phrases
1st August Advance to Government advantage affected allowed amount annuities annum August 26 Bank Notes Bank of England Bank paper bankers banking establishments capital stock cash and bullion cent Charter renewed circulation circumstances coffers conduct consequence considerable country banks currency of London demand depressed drain for bullion drain for gold enacted exchange Exchequer bills February 26 forgery Governor and Company House of Commons inclusive increased individuals injury interest issue of notes issuers issuing notes June Lady-day legal tender loan ment mercantile Michaelmas millions National Bank notes in London number of partners occasion Order in Council order to prevent over-issue of country over-issuing bank pecuniary Post Bills pound notes power of issuing principles profit public debt redundant render renewed to 1st Scotch banks shew sinking fund sort South Sea Company specie payments supply of bullion supposed transactions whole
Popular passages
Page 15 - Parliament, and that it shall not be lawful for any body, politic or corporate, whatsoever erected, or to be erected, or for any other persons whatsoever united, or to be united, in covenants or partnership, exceeding the number of six persons, in that part of Great Britain called England, to borrow, OWE, or take up any sum or sums of money on thtir bills or notes payable at demand, or at any less time than six months from the 'borrowing thereof...
Page 74 - South Sea Stock, purchased by the Governor and Company of the Bank of England of the South Sea Company, and transferred by them to the said Governor and Company, in pursuance of the Act of the 8th Geo.
Page 22 - Much difference of opinion has existed with respect to the policy of the restriction in 1797 ; but, considering the peculiar circumstances under which it took place, its expediency seems abundantly obvious. The run did not originate in any over-issue of bank paper, but grew entirely out of political causes.
Page 13 - Four general courts to be held in every year in the months of September, December, April, and July. A general court may be summoned at any time, upon the requisition of nine proprietors duly qualified as electors. "The majority of electors in general courts have the power to make and constitute by-laws and ordinances for the government of the corporation, provided that such by-laws and ordinances be not repugnant to the laws of the kingdom, and be confirmed and approved according to the statutes...
Page 41 - A banker is a dealer in capital, or more properly a dealer in money. He is an intermediate party between the borrower and the lender. He borrows of one party, and lends to another; and the difference between the terms at which he borrows and those at which he lends, forms the source of his profit. By this means he draws into active operation those small sums of money which were previously unproductive in the hands of private individuals; and at the same time furnishes accommodation to those who have...
Page 25 - B for an account of the price of bullion, the depreciation of paper, 8cc., from 1800 to 1821). A great diversity of opinion has been entertained with respect to the policy of the return to the old standard, in 1819. By one party it has been represented as a wise and politic measure; they contend that Mr. Peel's Act not only put an end to those fluctuations in the value of money, which had previously been productive of great mischief, and gave effect to the solemn engagements into which the...
Page 15 - England, or for any other persons whatsoever, united or to be united in covenants or partnership, exceeding the number of six persons, in that part of Great Britain called England, to borrow, owe, or take up any sum or sums of money on their bills or notes payable on demand, or in any less time than six months from the borrowing thereof.
Page 33 - It acts, not only as an ordinary bank, but as a great engine of state. It receives and pays the greater part of the annuities which are due to the creditors of the publie ; it circulates exchequer bills ; and it advances to government the annual amount of the land and malt taxes, which are frequently not paid up till some years thereafter.