The Bank of England and the State: A Lecture Delivered on November 14, 1905The University Press, 1923 - 35 Seiten |
Häufige Begriffe und Wortgruppen
65 miles accounts advances advantage affect the currency Arbuthnot authorised balances Bank Act Bank Charter Act Bank of England Bank of France bank-notes banks in London bullion held business of banking capital cash reserves cent centre and mainstay Chancellor circulating medium co-operate commerce considerable crises England note enquire Exchequer Bills exclusive privilege extension forms of paper functions funds gold basis gold coin gold reserve important increase Issue Department issue notes issue of notes joint stock banks legal tender liabilities London bankers London Clearing House Lord Goschen mainstay of mercantile Manchester ment monetary Money Market National Debt note issue obtain owe or take Palgrave paper credit Parliament pecuniary position questions of currency regards regulated relations Report of 1858 says silver Sir Robert Peel source of profit stock of bullion stock of gold subscriptions tion trade Treasury United Kingdom University of Manchester unwritten law
Beliebte Passagen
Seite 19 - Pound,' in that case another class of measures relating to Paper Currency will be requisite. Now, the whole foundation of the proposal I am about to make rests upon the assumption that according to practice, according to law, according to the ancient monetary policy of this country, that which is implied by the word 'Pound' is a certain definite quantity of gold with a mark upon it to determine its weight and fineness...
Seite 9 - There is no contract, public or private, — no engagement, national or individual, — which is unaffected by it. The enterprises of commerce, the profits of trade, the arrangements made in all the domestic relations of society, the wages of labour, pecuniary transactions of the highest amount and of the lowest, the payment of the national debt, the provision for the national expenditure, the command which the coin of the smallest denomination has over all the necessaries of life, are all affected...
Seite 14 - Parliament, and that it shall not be lawful for any body politic or corporate whatsoever created or to be created, or for any other persons whatsoever united or to be united in covenants or partnership exceeding the number of six persons in that part of Great Britain called England, to borrow, owe, or take up any sum or sums of money on their bills or notes payable on demand or at any less time than six months from the borrowing thereof...
Seite 19 - I mean to designate by that word the coin of the Realm, and promissory notes payable to bearer on demand. In using the words paper currency, I mean only such promissory notes. I do not include in those terms bills of exchange, or drafts on bankers, or other forms of paper credit.
Seite 20 - I think experience shows that the paper currency, that is, the promissory notes payable to bearer on demand, stands in a certain relation to the gold coin and the foreign exchange in which other forms of paper credit do not stand. There are striking examples of this adduced in the Report of the Bullion Committee of 1810, in the case both of the Bank of England, and of the Irish and Scotch Banks.
Seite 19 - There is a material distinction, in my opinion, between the character of a promissory note payable to bearer on demand, and other forms of paper credit, and between the effects which they respectively produce upon the prices of commodities and upon the exchanges. The one answers all the purposes of money, passes from hand to hand without endorsement, without examination, if there be no suspicion of forgery : and it is in fact, what its designations imply it to be, currency or circulating medium.
Seite 16 - III. c. 32), declaring that the bank should not be subject to any penalties for advancing money to the government for the payment of bills of exchange, accepted by the commissioners of his Majesty's treasury, and made payable at the bank. The amount of sums so advanced was required to be annually laid before parliament.
Seite 11 - ... or influence. Over Commissioners so entirely independent of them the Ministers would have much less power than they now possess over the Bank directors. Experience shows how little this latter body have been able to withstand the cajolings of Ministers, and how frequently they have been induced to increase their advances on Exchequer bills and Treasury bills at the very moment they were themselves declaring that it would be attended with the greatest risk to the stability of their establishment...
Seite 2 - Secretary) 12 LIME GROVE, OXFORD ROAD, MANCHESTER LONGMANS, GREEN & CO. LONDON : 39 Paternoster Row NEW YORK: 443-449 Fourth Avenue and Thirtieth Street...
Seite 14 - England, it shall not be lawful for any body politic or corporate whatsoever, created or to be created (other than the said Governor and Company of the Bank of England), or for any other persons whatsoever, united or to be united in covenants or...