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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1875 edition. Excerpt: ...if, however, such should be the case, I fear that this Bill, while it will entirely prevent the adoption of the measures which in 1825 and I believe in 1837 restored confidence, and applied a speedy remedy to the difliculties of the times, will raise a much less effectual barrier against the operations out of which these difliculties arose. 4thly, Because in all the cases of long-continued commercial and financial difficulties, these are, in my opinion, clearly to be traced to the exportation of bullion for the purchase of corn at the period of deficient harvests; and because in the event of the recurrence of a similar demand for foreign supply the provisions of this Bill will not only not do anything to remedy the evil, but, by compelling a continued and constant contraction of the currency, tend very much to accelerate its progress and aggravate its effects. 5thly, Because in every case where in consequence of the diminution of bullion in the Bank of England an inconvenient contraction of the currency may, under the provisions of this Bill, take place, that inconvenience will be further augmented by the withdrawal of the deposits in the Bank which the evident interest of the depositors will occasion, and thus, cause and effect acting and reacting on each other, the entire exhaustion of the bullion of the Bank and the ruin of the establishment may be apprehended. 6thly, Because the amount of the currency required by the wants of the country varies from time to time, and is influenced by a multitude of circumstances quite out of the reach of human control or of possible foresight, and the attempt to regulate it by legislative provisions introduces a new, unnecessary, and unnatural element of uncertainty in the value of property, subjects...show more

Product details

  • Paperback | 220 pages
  • 189 x 246 x 12mm | 399g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236952936
  • 9781236952936