Inquiry Into the Principles of Political Economy

Inquiry Into the Principles of Political Economy

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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. 1796 edition. Excerpt: ...either be an indulgence and encouragement to foreign trade; or it may be upon the consideration of the better security of foreign bills, which commonly pass through several indorsations before they are offered to be discounted at the bank. I come next to the circulation between the bank and the exchequer. The bank of England is to the exchequer, what a private person's banker is to him. It receives the cash of the exchequer, and answers its demands. Cash comes to the exchequer from the amount of taxes. The two great/branches of which are the excise and customs. To explain this operation The excise is computed to bring in annually from London, and the fifty-two collections over all England, nett into the exchequer, above four and a half millions sterling. The fifty-two collectors send the amount of their collections to London eight times a year, almost entirely in bills. As the same may be said of the remittances of all the other taxes, we may from this Circumstance observe by the way, that London alone must constantly owe to the country of Eng. land a sum equal to all the bills drawn upon it; that is to say, to all the taxes which the country pays: a circumstance not to be overlooked, from which many things may be learned, as will be taken notice of in the proper place. The bills sent by the fifty-two collectors, are drawn payable to the commiffioners of excise; they indorse them to the receiver general; he carries them to the bank as they fall due, and gets a receipt for the amount; this receipt he carries to the exchequer, who charge it in their account with the bank, and deliver tallies to the receiver general for the amount of his payments; these tallies he deiivers to the commiffioners of excise, who enter them in their book more

Product details

  • Paperback | 68 pages
  • 189 x 246 x 4mm | 141g
  • United States
  • English
  • black & white illustrations
  • 1236805879
  • 9781236805874