The Currency Question Freed From Mystery, in a Letter to Mr. Peel, Showing How the Distress May Be Relieved Without Altering the Standard .. 28
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In our eReader you can find the full English version of the book. Read The Currency Question Freed From Mystery, in a Letter to Mr. Peel, Showing How the Distress May Be Relieved Without Altering the Standard .. 28 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 The Currency Question Freed From Mystery, in a Letter to Mr. Peel, Showing How the Distress May Be Relieved Without Altering the Standard .. 28
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If, however, the amount of one and two pound notes circulating in 1825 was at all correctly given at two and a half millions (the Duke of Wellington, however, on better grounds cal- culated it at six millions), it is evident that twenty-eight millions of sovereigns cannot be required merely for the purpose of change. It is much more probable that a very large propor- tion of them are demanded of bankers in prefer- ence to their five and ten pound notes, through the general distrust of country b...anks, which the crash of 1825 occasioned, and which the legis- lature unfortunately took no measures to coun- teract by placing, or even allowing these esta- 15 blishments to place themselves, on a sounder footing. Another very large quantity of sovereigns is no doubt removed from active circulation, and hoarded, by persons, who, from a similar distrust in bank notes, and the generally inadequate re- turns for the employment of capital, prefer keep- ing a deposit of gold by them, to be secure against all contingencies.
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To quickly assess the difficulty of the text, read a short excerpt:
If, however, the amount of one and two pound notes circulating in 1825 was at all correctly given at two and a half millions (the Duke of Wellington, however, on better grounds cal- culated it at six millions), it is evident that twenty-eight millions of sovereigns cannot be required merely for the purpose of change. It is much more probable that a very large propor- tion of them are demanded of bankers in prefer- ence to their five and ten pound notes, through the general distrust of country b...anks, which the crash of 1825 occasioned, and which the legis- lature unfortunately took no measures to coun- teract by placing, or even allowing these esta- 15 blishments to place themselves, on a sounder footing. Another very large quantity of sovereigns is no doubt removed from active circulation, and hoarded, by persons, who, from a similar distrust in bank notes, and the generally inadequate re- turns for the employment of capital, prefer keep- ing a deposit of gold by them, to be secure against all contingencies.
What to read after The Currency Question Freed From Mystery, in a Letter to Mr. Peel, Showing How the Distress May Be Relieved Without Altering the Standard .. 28?
You can find similar books in the "Read Also" column, or choose other free books by George Poulett Scrope to read onlineMoreLess
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