Report from the Secret Committee on the Expediency of the Bank Resuming Cash Payments: With the Minutes of Evidence |
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advances to government alluded amount of bank amount of circulation amount of country answer arise balance of payments bank of England bank of France bankers bills of exchange causes cent certainly circulating medium circumstances coinage commercial Committee commodities conceive consequence consider considerable continue country bank paper demand diminished diminution discount distress effect England notes England paper exchequer bills exportation extent favourable fluctuation foreign exchanges foreign loans France gold coin government securities inconvenience increase invested issue of bank July Lord Liverpool market price means ment merchant metallic currency millions mint price months necessary notes in circulation operation opinion ounce paper currency period pound notes pound sterling present amount price of gold produce proportion purchase question rate of exchange rate of interest reduction reference repayment restriction resume cash payments resumption of cash Russia seignorage specie speculation Supposing take place tion trade transactions unfavourable
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第 1 頁 - Council made under this Act shall be laid before both Houses of Parliament within Six Weeks after issuing the same if Parliament be then sitting, and if not, then within Six Weeks after the Commencement of the then next Session of Parliament.
第 377 頁 - That this court cannot refrain from adverting to an opinion strongly insisted on by some, that the Bank has only to reduce its issues to obtain a favourable turn in the exchanges, and a consequent influx of the precious metals : the court conceives it to be its duty to declare, that it is unable to discover any solid foundation for such a sentiment.
第 25 頁 - A like effect is sometimes produced, and in a much greater degree, from the discredit of their customers, to whom they are in the habit of advancing money; most of their customers being holders of articles which are liable to be affected by a general depression of price.
第 2 頁 - ... suspension of them, has expressed an opinion, that their resumption was highly desirable ; and has assigned, as the reason for continuing the Restriction, the expediency of enabling the Bauk to make such preparations, as to their discretion and experience might appear most expedient, for enabling them to resume Payments in Cash, without public inconvenience.
第 9 頁 - Bank can effect a reduction of their issues, supposing no part of the advances made by them to the Government to be repaid, is by limiting that accommodation to Trade,• which they have long been in the habit of granting, by the...
第 19 頁 - There cannot, while this plan is acted upon, be any demand for gold for the purposes of internal circulation ; and whatever quantity it would be necessary to provide with the view of replacing the small notes at present in circulation, may therefore be dispensed with. That portion of capital which...
第 21 頁 - If the price of Gold shall remain the same as it is at present, the. demand from the Bank, which will have to deliver it at that price, will necessarily be very limited. If, in the interval any causes shall affect it, and produce a rise in its price, the Bank must in that case contract its Paper, either positively, as compared with• its persent amount, or relatively, to any increased demand which there may be for it ; and thus, by increasing its value as currency, proportionately diminish the inducement...
第 4 頁 - It appears by the returns, that on the 5th July 1817, immediately preceding the payments of the dividends, the amount outstanding was 25,800,000/; and on the 4th October, being a few days before the payment of the dividends of that quarter, the amount was, 28,900,000/. The issue of Sovereigns between July and December 1817, amounted to 1,240,422/, so that had the sovereigns remained in circulation, there would have been an increase to the circulating medium issued by the Bank of England in the course...
第 10 頁 - ... service ; and in a certain degree within those limits lessens the benefit previously derived by the Bank from its accumulation from the first to the last day of each quarter. It appears however to the Committee, that whatever may be, either now or hereafter, the amount of the public balances held by the Bank, that amount ought always to be kept in view, and allowance made for it when the advances from the Bank to the government are under consideration ; for it is clear, that if a final settlement...
第 26 頁 - Your committee have foreborne from entering into any reasoning upon the effect produced upon the value of our currency, by variations in the numerical amount of the notes issued by the bank of England. So many circumstances contribute to affect that value; such, for instance, as the varying state of commercial credit and confidence — the fluctuations in the amount of country...