Reflections Suggested By a Perusal of Mr. J. Horsley Palmer's Pamphlet : On the Causes And Consequences of the Pressure On the Money Market 34

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6,325,000 Sept. 20 .
... 18,147,000 ...
• 5.719,000 Oct. 18 .
.. 17,936,000 ...
. 5,257,000 Nov. 15 .
... 17,543,000 ...
. 4,933,000 Dec. 13 .
... 17,361,000 ...
» 4,545,000 1837.
Jan. 13 ... 17,422,000 ...
. 4,287,000 Feb. 10 .
... 17,868,000 ..• . 4,032,000 Upon an inspection of this table we cannot fail to remark — 1. That the circulation is considerably higher at 26 this moment than it was in January 1836, although during this period the bullion has undergone a very large diminution.
2. Tha
...t the circulation continued steadily to increase from January 1836 up to May, and tliat even in September it w^as at the same amount at which it stood in May, although the drain of bullion was by Mr. Palmer's acknowledgment in full force from April to September.
3. That there does not appear to have been any effectual reduction of circulation subsequent to the rise of interest upon Exchequer Bills, although this measure was loudly called for as necessary to enable the Bank to realize its securities, and thus reduce its issues.


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