Banks and bankers, by Daniel Hardcastle, jun

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1842 - 411 páginas
 

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Página 47 - It is not by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country.
Página 47 - The commerce and industry of the country, however, it must be acknowledged, though they may be somewhat augmented, cannot be altogether so secure, when they are thus, as it were, suspended upon the Daedalian wings of paper money, as when they travel about upon the solid ground of gold and silver.
Página 53 - But those exertions of the natural liberty of a few individuals, which might endanger the security of the whole society, are, and ought to be, restrained by the laws of all governments, of the most free, as well as of the most despotical. The obligation of building party walls, in order to prevent the communication of fire, is a violation of natural liberty, exactly of the same kind with the regulations of the banking trade which are here proposed.
Página 48 - The circulation of every country may be considered as divided into two different branches ; the circulation of the dealers with one another, and the circulation between the dealers and the consumers.
Página 54 - A paper money consisting in bank-notes, issued by people of undoubted credit, payable upon D 5 demand without any condition, and in fact always readily paid as soon as presented, is, in every respect, equal in value to gold and silver money, since gold and silver money can at any time be had for it.
Página 224 - That should this great corporation, conducted by directors who are not personally responsible, succeed, by means of these exclusive advantages, in their apparent object of supplanting the existing banking establishments, they will thereby be rendered masters of the circulation of the country, which they will be enabled to contract or expand according to their own will, and thus be armed with a tremendous power and influence, dangerous to the stability of property and the independence of the country.
Página 174 - That this court cannot refrain from adverting to an opinion strongly insisted on by some, that the Bank has only to reduce its issues to obtain a favourable turn in the exchanges, and a consequent influx of the precious metals : the court conceives it to be its duty to declare, that it is unable to discover any solid foundation for such a sentiment.
Página 303 - Notes ; and recourse may be had, for the purpose of procuring payment, to each description of property at the same time. Execution is not confined to the real property of a debtor merely during his life, but proceeds with equal effect upon that property after his decease. The law relating to the establishment of Records, gives ready means of procuring information with respect to the real and heritable estate of which any person in Scotland may be possessed.
Página 47 - The gold and silver money which circulates in any country," he observes, " may very properly be compared to л highway, which, while it circulates and carries to market all the grass and corn of the country, produces itself not a single pile of either. The judicious operations of banking, by providing, if I may be allowed so violent a metaphor, a sort of waggon-way through the air, enable the country to convert, as it were, a great part of its highways into good pastures and corn-fields, and thereby...
Página 40 - In their early intercourse with Europeans, the article that attracted most notice was iron. Its utility in forming the instruments of war and husbandry made it preferable to all others ; and iron soon became the measure by which the value of all other commodities was ascertained.

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