Political Economy : With Especial Reference to the Industrial History of Nations
Political Economy : With Especial Reference to the Industrial History of Nations
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In our eReader you can find the full English version of the book. Read Political Economy : With Especial Reference to the Industrial History of Nations Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Political Economy : With Especial Reference to the Industrial History of Nations
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If a large amount of foreign stocks or government bonds have been subscribed for, gold must go out to pay for them. If schemes of improvement in India are on foot, English gold must buy on the Continent the silver that is to pay the Hindoo work- men. If any country has sold as much as usual to England, but .
has bought less than usual, specie must be exported to pay the balance, since bills of exchange are not to be had. If a failure Digitized by Google "PUTTING ON THE BANK SCREW." 167 of the E...nglish grain crop necessitates a larger import than usual of Russian or American wheat, Mark Lane must pay for it partly in gold, unless the exports to Russia or America be unusually great. Any one of these causes or a concurrence of several will diminish the bullion in bank. Were there no Act of 1844, and were the directors wise by past experience, the decrease would not matter. It might be treated as a petty backset, that the course of trade would speedily compensate for.
But as ii is, the bank raises the rate and diminishes the amount of discounts as the bullion diminishes, in order to keep the circulation down to the level of the bullion, instead of taking any steps directly- to replace the loss.
What to read after Political Economy : With Especial Reference to the Industrial History of Nations?
You can find similar books in the "Read Also" column, or choose other free books by Robert Ellis Thompson to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
If a large amount of foreign stocks or government bonds have been subscribed for, gold must go out to pay for them. If schemes of improvement in India are on foot, English gold must buy on the Continent the silver that is to pay the Hindoo work- men. If any country has sold as much as usual to England, but .
has bought less than usual, specie must be exported to pay the balance, since bills of exchange are not to be had. If a failure Digitized by Google "PUTTING ON THE BANK SCREW." 167 of the E...nglish grain crop necessitates a larger import than usual of Russian or American wheat, Mark Lane must pay for it partly in gold, unless the exports to Russia or America be unusually great. Any one of these causes or a concurrence of several will diminish the bullion in bank. Were there no Act of 1844, and were the directors wise by past experience, the decrease would not matter. It might be treated as a petty backset, that the course of trade would speedily compensate for.
But as ii is, the bank raises the rate and diminishes the amount of discounts as the bullion diminishes, in order to keep the circulation down to the level of the bullion, instead of taking any steps directly- to replace the loss.
What to read after Political Economy : With Especial Reference to the Industrial History of Nations?
You can find similar books in the "Read Also" column, or choose other free books by Robert Ellis Thompson to read onlineMoreLess
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