The Late Prosperity, And the Present Adversity of the Country Explained : the Proper Remedies Considered, And the Comparative Merits of the English And Scottish Systems of Banking Discussed in a Correspondence Between Sir John Sinclair And Mr. Thomas Attw
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In our eReader you can find the full English version of the book. Read The Late Prosperity, And the Present Adversity of the Country Explained : the Proper Remedies Considered, And the Comparative Merits of the English And Scottish Systems of Banking Discussed in a Correspondence Between Sir John Sinclair And Mr. Thomas Attw 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 Late Prosperity, And the Present Adversity of the Country Explained : the Proper Remedies Considered, And the Comparative Merits of the English And Scottish Systems of Banking Discussed in a Correspondence Between Sir John Sinclair And Mr. Thomas Attw
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The banks are thus made to act as great regulators in the monetary machinery, keeping the balances of one man to-day, and of another to-morrow, who have no immediate oc- ccasions for their use ; and giving back the use of such balances to the same parties, or to others, accord- ing as their occasions may arise.
You seem to deprecate the gigantic power of the Bank of England^ (although that power has but late- ly been used to the salvation of the Government ;) and yet you seem to acknowledge tha...t the power of the Joint Stock Banks in Scotland is, in some degree, an- alagous thereto ; for you expressly state, that they preserve their bank notes in circulation, although " there is not a single Sovereign'' to be found in cir- culation wherewith to pay them. Our English Banks have prepared themselves better, to submit to 86 the Iron Law which compels them to pay the wlwle of their debts in Sovereigns, although they have never received Sovereigns for a hundredth part of such Debts a I will venture to assert, that the Scottish Banks must be prepared also ; or we shall very short- ly witness among those Banks far greater ruin and confusion than we have ever yet seen in England.
What to read after The Late Prosperity, And the Present Adversity of the Country Explained : the Proper Remedies Considered, And the Comparative Merits of the English And Scottish Systems of Banking Discussed in a Correspondence Between Sir John Sinclair And Mr. Thomas Attw?
You can find similar books in the "Read Also" column, or choose other free books by Sinclair, John, Sir, 1754-1835 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The banks are thus made to act as great regulators in the monetary machinery, keeping the balances of one man to-day, and of another to-morrow, who have no immediate oc- ccasions for their use ; and giving back the use of such balances to the same parties, or to others, accord- ing as their occasions may arise.
You seem to deprecate the gigantic power of the Bank of England^ (although that power has but late- ly been used to the salvation of the Government ;) and yet you seem to acknowledge tha...t the power of the Joint Stock Banks in Scotland is, in some degree, an- alagous thereto ; for you expressly state, that they preserve their bank notes in circulation, although " there is not a single Sovereign'' to be found in cir- culation wherewith to pay them. Our English Banks have prepared themselves better, to submit to 86 the Iron Law which compels them to pay the wlwle of their debts in Sovereigns, although they have never received Sovereigns for a hundredth part of such Debts a I will venture to assert, that the Scottish Banks must be prepared also ; or we shall very short- ly witness among those Banks far greater ruin and confusion than we have ever yet seen in England.
What to read after The Late Prosperity, And the Present Adversity of the Country Explained : the Proper Remedies Considered, And the Comparative Merits of the English And Scottish Systems of Banking Discussed in a Correspondence Between Sir John Sinclair And Mr. Thomas Attw?
You can find similar books in the "Read Also" column, or choose other free books by Sinclair, John, Sir, 1754-1835 to read onlineMoreLess
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