Observations On Paper Money Banking And Overtrading Including Those Parts of
Observations On Paper Money Banking And Overtrading Including Those Parts of
Henry Parnell
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Cash. Oct. 1805 ditto ditto 51. Ditto. Oct. 1806 ditto ditto 51. Ditto. Inquiry, &c. By R. Mushet, Evidence, p. 54. I 2 116 ON THE BANK ot no considerable error, that the sum of undi- vided profit must, in the mean time, have in- creased to the enormous amount of 13, OOO^OOO/. *: out of this fund the Bank advanced to Govern- ment, for the year 18l6, a loan of 6, 000, 000/. ; and at a Court of Proprietors, held in May 18l6, it was resolved to make an addition to the capital of the Bank of 2, 910..., 600/. , the effect of which was to raise the capital of each pro- prietor of 10O/. Of stock, producing 10/. Per annum, to 125/. , and to increase his income proportionally, namely, to 12/. 10s. Per annum. The great profit realized by the Bank, since the suspension of its cash payments, has produced a corresponding rise in the value of its stock. Throughout the year 1797? tne average price of Bank stock was about 125/. Per cent. ; since that period it has been gradually improving in value, and its market price now (18 16) amounts to * This view of the affairs of the Bank, since the year 1797 is founded on the statements contained in the work of Mr.
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