A Letter to the Right Honourable William Pitt, on the Influence of the Stoppage of Issues in Specie at the Bank of England; On the Prices of Provisions, and Other Commodities

A Letter to the Right Honourable William Pitt, on the Influence of the Stoppage of Issues in Specie at the Bank of England; On the Prices of Provisions, and Other Commodities

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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. 1801 edition. Excerpt: ...admit the full force of 'the Observation-t and, if there had been any important change, within the last four years, in the political, financial, or commercial situation of the country, (except the increase of Paper-money and its consequences) I should rsseadily have allowed to such-a change/all the operation that 'could be supposed du-eto it. This is all 1 shall say on this part of the subject, which I feel it to be impoffible to treat, as it deserves to be treated, without departing from that line of enquiry which I proposed to pursue in this address. I'f we contemplate the probable future depreciation' of paper, as it may affect the Creditors of the state, we are well warranted to con'clude, that the profusion of paper, which has blown up the nominal value of thecapital of the p, ublic debt, is sraught with the seeds of the' destruction of real public credit. This depreciation of paper the Creditors of the public now feel, perhaps even without suspecting its existence, in common with every other class of people; but when it becomes more palpable (as it infallibly must, if the present system be persevered in )', the odium which it must eiitail upon the country, standing, in this respect, in the character of a debtor, payinga real debt with a nomiiially equal, but really inferior value', is rather to be deprecated than described. If such a period should arrive, the public creditprs will be justly entitled to' charge their debtor with having " kept his, promise to their ear, and broke it to their bope;"' If a period should arrive When a dividend Note to t/zc Second Edition.--=This has been con-' v 1 fidered by one of my anonymous opponents as the most exceptionable passage in the whole Letter. The diminu-tion of value which I...show more

Product details

  • Paperback | 28 pages
  • 189 x 246 x 2mm | 68g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236812344
  • 9781236812346