History of the Bank of England And Its Financial Services to the State
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Should the Bank wish to issue notes, it might do so up to the amount of the debt. Notes, bills of exchange, and other debts of the Bank were all looked at from the same point of view. They were the liabilities of the company, and their security rested upon the government debt.
There is no indication of any intention to give the Bank a share in the management of the public debt or of the a Blackstone, Commentaries (edition 1830), Vol. I, pp. 272, 472.
^ See an extract from the charter of the Ban...k of England in McCulloch's "Treatise on Metallic and Paper Money and Banks, " p. 455. Anderson, a. 1 694. [There is a reprint of the charter and by-laws in Lawson's " History of Banking. " H. S. F. ] 79 The English Banking System public money. To say that by the provisions of the act Vhich founded it the Bank undertook the functions of the Exchequer, is untrue. This was neither embodied in the act nor was it immediately put into practice. The voluminous act, suffering in form from the usual clumsi- ness of English laws, contained in fact only a few princi- ples of administration and left it entirely to the practical constructive powers of the Bank directors to find the necessary rules for the development and conduct of the Bank.
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To quickly assess the difficulty of the text, read a short excerpt:
Should the Bank wish to issue notes, it might do so up to the amount of the debt. Notes, bills of exchange, and other debts of the Bank were all looked at from the same point of view. They were the liabilities of the company, and their security rested upon the government debt.
There is no indication of any intention to give the Bank a share in the management of the public debt or of the a Blackstone, Commentaries (edition 1830), Vol. I, pp. 272, 472.
^ See an extract from the charter of the Ban...k of England in McCulloch's "Treatise on Metallic and Paper Money and Banks, " p. 455. Anderson, a. 1 694. [There is a reprint of the charter and by-laws in Lawson's " History of Banking. " H. S. F. ] 79 The English Banking System public money. To say that by the provisions of the act Vhich founded it the Bank undertook the functions of the Exchequer, is untrue. This was neither embodied in the act nor was it immediately put into practice. The voluminous act, suffering in form from the usual clumsi- ness of English laws, contained in fact only a few princi- ples of administration and left it entirely to the practical constructive powers of the Bank directors to find the necessary rules for the development and conduct of the Bank.
What to read after History of the Bank of England And Its Financial Services to the State?
You can find similar books in the "Read Also" column, or choose other free books by Eugen Von Philippovich to read onlineMoreLess
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