Tracts And Other Publications On Metallic And Paper Currency
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III. Another important topic alluded to in Mr. Pal- mer's pamphlet, and certainly entitled to very serious consideration, is — The effect on the Joint- Stock Banks, to whose mis- conduct in the regulation of their issues he attributes the peculiar severity of the pressure upon the mercantile world during the last few months, when contrasted with the very different result in this respect which occurred under a similar loss of bullion and contraction of Bank 12 REFLECTIONS ON THE issues in 1832. ...Indeed, Mr. Palmer goes the length of doubting whether the Joint-Stock Banks in their present form and the Bank of England can co-exist.
It is not intended in these remarks either to make a general attack upon the conduct of the Bank of England, or to undertake the defence of the Joint-Stock Banks : whatever may be the evil consequences to the public interest arising from the errors of either party, it will probably be found upon an impartial investigation that those errors are more justly attributable to the false posi- tion in which the respective parties have been placed by unwise legislation, than to the want of that degree of vigilance, knowledge, or integrity which might be reason- ably expected from them.
What to read after Tracts And Other Publications On Metallic And Paper Currency?
You can find similar books in the "Read Also" column, or choose other free books by J R John Ramsay Mcculloch to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
III. Another important topic alluded to in Mr. Pal- mer's pamphlet, and certainly entitled to very serious consideration, is — The effect on the Joint- Stock Banks, to whose mis- conduct in the regulation of their issues he attributes the peculiar severity of the pressure upon the mercantile world during the last few months, when contrasted with the very different result in this respect which occurred under a similar loss of bullion and contraction of Bank 12 REFLECTIONS ON THE issues in 1832. ...Indeed, Mr. Palmer goes the length of doubting whether the Joint-Stock Banks in their present form and the Bank of England can co-exist.
It is not intended in these remarks either to make a general attack upon the conduct of the Bank of England, or to undertake the defence of the Joint-Stock Banks : whatever may be the evil consequences to the public interest arising from the errors of either party, it will probably be found upon an impartial investigation that those errors are more justly attributable to the false posi- tion in which the respective parties have been placed by unwise legislation, than to the want of that degree of vigilance, knowledge, or integrity which might be reason- ably expected from them.
What to read after Tracts And Other Publications On Metallic And Paper Currency?
You can find similar books in the "Read Also" column, or choose other free books by J R John Ramsay Mcculloch to read onlineMoreLess
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