Money And the Mechanism of Exchange
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CHAPTER XVII.
THE NATURE AND VARIETIES OF PROMISSORY NOTES.
Before attempting to come to any conclusion as to the best mode of regulating the issue of promissory notes, we must carefully analyse the differences which may exist between one promise and another. What seems at first sight a very slight and subtle distinction, may be found to lead to important results. He who issues a representative or promissory document, en- gaging to give a certain quantity of a defined com- modity in return for ...the document when presented, may really make any one of three distinct engage- ments.
1. He may promise to keep a certain identical article in his possession until it is called for.
2. He may engage to have in his possession a cer- tain amount of commodity ready to meet the promis- sory notes, without distinguishing between portion and portion of a similar substance.
3. The undertaking' may be merely to the effect that the required commodity shall be forthcoming when the note is presented, no covenant being made as to the quantity to be held in stock for the purpose.
What to read after Money And the Mechanism of Exchange?
You can find similar books in the "Read Also" column, or choose other free books by Jevons, William Stanley, 1835-1882 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
CHAPTER XVII.
THE NATURE AND VARIETIES OF PROMISSORY NOTES.
Before attempting to come to any conclusion as to the best mode of regulating the issue of promissory notes, we must carefully analyse the differences which may exist between one promise and another. What seems at first sight a very slight and subtle distinction, may be found to lead to important results. He who issues a representative or promissory document, en- gaging to give a certain quantity of a defined com- modity in return for ...the document when presented, may really make any one of three distinct engage- ments.
1. He may promise to keep a certain identical article in his possession until it is called for.
2. He may engage to have in his possession a cer- tain amount of commodity ready to meet the promis- sory notes, without distinguishing between portion and portion of a similar substance.
3. The undertaking' may be merely to the effect that the required commodity shall be forthcoming when the note is presented, no covenant being made as to the quantity to be held in stock for the purpose.
What to read after Money And the Mechanism of Exchange?
You can find similar books in the "Read Also" column, or choose other free books by Jevons, William Stanley, 1835-1882 to read onlineMoreLess
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