A View of the Money System of England, From the Conquest : With Proposals for Establishing a Secure And Equable Credit Currency 27
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To quickly assess the difficulty of the text, read a short excerpt:
The frequent returns of war throughout the eighteenth cen- tury, furnished occasion for parliament to make frequent and al large concessions of taxes. These being granted, exche- quer bills and bank notes provided a credit currency, through which the taxes were paid agreeably to the representation in p. 9. The funding system gave perpetuity to this credit cur- rency, the extent of which must otherwise have been limited to the amount of taxes immediately forthcoming.
At first the credit currency... was in great disrepute ; but as bank notes were received by government in discharge of all taxes, customs, &,c, and also in payment of government loans, the same as specie, they were soon felt to be as efficient for the mere purposes of home circulation as the best metallic money. The immediate effect of this was to diminish the ab* solute necessity for gold, and in consequence to diminish the the value of it, in like manner as a suddenly increased supply of gold from the mines would have done.
What to read after A View of the Money System of England, From the Conquest : With Proposals for Establishing a Secure And Equable Credit Currency 27?
You can find similar books in the "Read Also" column, or choose other free books by James Taylor to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The frequent returns of war throughout the eighteenth cen- tury, furnished occasion for parliament to make frequent and al large concessions of taxes. These being granted, exche- quer bills and bank notes provided a credit currency, through which the taxes were paid agreeably to the representation in p. 9. The funding system gave perpetuity to this credit cur- rency, the extent of which must otherwise have been limited to the amount of taxes immediately forthcoming.
At first the credit currency... was in great disrepute ; but as bank notes were received by government in discharge of all taxes, customs, &,c, and also in payment of government loans, the same as specie, they were soon felt to be as efficient for the mere purposes of home circulation as the best metallic money. The immediate effect of this was to diminish the ab* solute necessity for gold, and in consequence to diminish the the value of it, in like manner as a suddenly increased supply of gold from the mines would have done.
What to read after A View of the Money System of England, From the Conquest : With Proposals for Establishing a Secure And Equable Credit Currency 27?
You can find similar books in the "Read Also" column, or choose other free books by James Taylor to read onlineMoreLess
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