Principles of Currency and BankingG. & C. & H. Carvill, 1829 - 131 頁 |
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abundant amount of bank amount of capital augment bank issues bank notes bank of England bank paper bullion capital and credit capitals of banks cause cious metals circulating medium coin coinage commercial paper confidence convertible country banks culation degree demands of trade depreciated depreciated currency discount dities dollars effect emissions employment England evils excess of currency excess of issues excessive issues exchangeable value exist fluctuations four shillings gold and silver Harvard College history of banks increased injure interests invested issues of paper joint currency lation lative laws of currency limitation of issues loans ment nature occasion operations ounces paper currency permanent pital possess precious metals present banking system prevent prices of commodities principles of currency profitable proportion quantity of currency quantity of paper redundant regulations rency respecting result safe safety small notes stamped standard supply and demand tion uniform wholly metallic
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第 2 頁 - Co. of the said district, have deposited in this office the title of a book, the right whereof they claim as proprietors, in the words following, to wit : " Tadeuskund, the Last King of the Lenape. An Historical Tale." In conformity to the Act of the Congress of the United States...
第 2 頁 - Congress of the United States, entitled "an act for the encouragement of learning, by securing the copies of maps, charts, and books, to the authors and proprietors of such copies, during the time therein mentioned." And also to an act entitled "an act supplementary to an act entitled an act for the encouragement of learning, by securing the copies of maps, charts, and books, to the authors and proprietors of such copies, during the times therein mentioned, and extending the benefits thereof to the...
第 122 頁 - But if the public require protection against the inferior money which might be imposed upon them by an undue mixture of alloy, and which is obtained by means of the Government stamp when metallic money is used, how much more necessary is such protection when paper money forms the whole, or almost the whole, of the circulating medium of the country ? Is it not inconsistent that Government should use its power to protect the community from the loss of one shilling in a guinea, but does not interfere...
第 123 頁 - ... commit. Why is not the same principle followed with respect to the country banks ? What objection can there be against requiring of those who take upon themselves the office of furnishing the public with a circulating medium, to deposit with Government an adequate security for the due performance of their engagements ? In the use of money, every one is a trader. Those whose habits and pursuits are little suited to explore the mechanism of trade, are obliged to make use of money, and are no way...
第 123 頁 - ... incomes, women, labourers, and mechanics of all descriptions, are often severe sufferers by the failures of country banks, which have lately become frequent beyond all former example. Though I am by no means disposed to judge uncharitably of those who have occasioned so much ruin and distress to the middle and lower classes of the people, yet, it must be allowed by the most indulgent, that the true business of banking must be very much abused before it can be necessary for any bank, possessing...
第 122 頁 - ... note ? In the case of the bank of England notes, a guarantee is taken by the government for the notes which the bank issues ; and the whole capital of the bank, amounting to more than eleven millions and a half, must be lost before the holders of their notes can be sufferers from any imprudence they may commit.
第 115 頁 - ... country extremely difficult, and to a great extent impracticable. " It is a sufficient reason for the suppression of small notes, that they greatly multiply counterfeits, owing to the facility with which spurious imitations of them may be passed. Notes of ten dollars and upwards are comparatively but seldom counterfeited. Such notes are generally in the hands of persons capable of deciding on their genuineness. No one receives a note of that amount without attentive scrutiny; whereas the smaller...
第 49 頁 - Experience, however, shows that neither a State nor a Bank ever have had the unrestricted power of issuing paper money, without abusing that power. In all States, therefore, the issue of paper money ought to be under some check and control ; and none seems so proper for that purpose as that of subjecting the issuers of paper money to the obligation of paying their notes, either in gold coin or bullion.
第 84 頁 - ... injured ; and in the extreme case of such an entire loss, the capital reserved from hazard would still protect the utmost possible amount of outstanding issues. " But the safety of this system would result chiefly from its effect in preventing over-issues of paper, and consequently, drains of specie, and contractions of the circulation ; and thereby preventing those reductions and fluctuations of prices, which bring about suspensions and failures, and render the present system so unsafe, both...
第 113 頁 - The natural and ordinary effect of the circulation of small notes is to cause the specie to leave the channels of circulation, and settle in the vaults of the banks, and for the most part in the banks of commercial towns. Consequently, when from the state of trade and currency it is in demand for exportation, being already collected it is silently and suddenly withdrawn ; and before the public at large can have any sufficient notice of its being gone, the banks are obliged to stop their issues, and...