The Right Honourable Spencer Perceval
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In our eReader you can find the full English version of the book. Read The Right Honourable Spencer Perceval 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 Right Honourable Spencer Perceval
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THE SESSION OF 1811 163 Everything combined to create a crisis : the agricultural prospect, depreciation of paper money, over-speculation by brokers on the Stock Exchange, and Horner's report urging a resumption of cash payments within the space of two years, which caused something in the shape of a panic in the mercantile world. Yankee trade had proved disastrous to many speculators. Merchants, who had suffered, appealed to the Government, and Perceval, on the 1st March, obtained the appointme...nt of "a Select Committee to enquire into commercial credit. " An issue of £6, 000, 000 in Exchequer Bills was authorised by Parliament to be paid to the sufferers, following the precedent of Pitt in 1793. The Budget itself showed few signs of the com- mercial crisis. The supplies slightly exceeded £56, 020, 000, and little more than £49, 450, 000 was a charge on Great Britain. Perceval estimated the ways and means at £49, 555, 000 but £24, 000, 000 was to be raised by loan, £12, 000, 000 to replace Exchequer Bills, and 164 SPENCER PERCEVAL £12, 000, 000 by fresh stock.
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You can find similar books in the "Read Also" column, or choose other free books by Philip Treherne to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
THE SESSION OF 1811 163 Everything combined to create a crisis : the agricultural prospect, depreciation of paper money, over-speculation by brokers on the Stock Exchange, and Horner's report urging a resumption of cash payments within the space of two years, which caused something in the shape of a panic in the mercantile world. Yankee trade had proved disastrous to many speculators. Merchants, who had suffered, appealed to the Government, and Perceval, on the 1st March, obtained the appointme...nt of "a Select Committee to enquire into commercial credit. " An issue of £6, 000, 000 in Exchequer Bills was authorised by Parliament to be paid to the sufferers, following the precedent of Pitt in 1793. The Budget itself showed few signs of the com- mercial crisis. The supplies slightly exceeded £56, 020, 000, and little more than £49, 450, 000 was a charge on Great Britain. Perceval estimated the ways and means at £49, 555, 000 but £24, 000, 000 was to be raised by loan, £12, 000, 000 to replace Exchequer Bills, and 164 SPENCER PERCEVAL £12, 000, 000 by fresh stock.
What to read after The Right Honourable Spencer Perceval?
You can find similar books in the "Read Also" column, or choose other free books by Philip Treherne to read onlineMoreLess
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