Thoughts On the Effects of the Bank Restrictions 8
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The obligation of paying in English Bank notes would unquestionably make it necessary for the Irish Bank Directors to narrow their discounts, and to limit the accommodations which they at present affi^rd to the merchants of Ireland ; and great com- mercial embarrassment would certainly ensue if tliis 78 assistance, in the extent in which it is now afforded, was very suddenly and abruptly withdrawn. This therefore has very properly been urged as one of the difficulties of the proposed measure. B...ut the inconve- nience might, it is probable, be sufficiently obviated, and any sudden shock prevented, by allowing suffi- cient time to the Bank for a cautious and very gra- dual diminution of their notes. If it should still, however, appear that some inconvenience is un» avoidable, it could not reasonably be stated as an ob- jection of much weight or importance. An inconve- nience of the same nature, and of much greater extent, must at some time happen, and will be the inevitable consequence of the renewal of payments in specie, at whatever time that event shall take place.
What to read after Thoughts On the Effects of the Bank Restrictions 8?
You can find similar books in the "Read Also" column, or choose other free books by King, Peter King, Lord, 1776-1833 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The obligation of paying in English Bank notes would unquestionably make it necessary for the Irish Bank Directors to narrow their discounts, and to limit the accommodations which they at present affi^rd to the merchants of Ireland ; and great com- mercial embarrassment would certainly ensue if tliis 78 assistance, in the extent in which it is now afforded, was very suddenly and abruptly withdrawn. This therefore has very properly been urged as one of the difficulties of the proposed measure. B...ut the inconve- nience might, it is probable, be sufficiently obviated, and any sudden shock prevented, by allowing suffi- cient time to the Bank for a cautious and very gra- dual diminution of their notes. If it should still, however, appear that some inconvenience is un» avoidable, it could not reasonably be stated as an ob- jection of much weight or importance. An inconve- nience of the same nature, and of much greater extent, must at some time happen, and will be the inevitable consequence of the renewal of payments in specie, at whatever time that event shall take place.
What to read after Thoughts On the Effects of the Bank Restrictions 8?
You can find similar books in the "Read Also" column, or choose other free books by King, Peter King, Lord, 1776-1833 to read onlineMoreLess
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