The Parliamentary Debates Volume 14

The Parliamentary Debates Volume 14

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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. 1826 edition. Excerpt: ...One cause of the present suffering was said to be the excess of imports. The same remark was applicable to this, as to the question of speculation generally. The imports of a country could only be known to be excessive, when, by experience, they were found to be so. At present, the imports were excessive, only because the demand for foreign goods had suddenly fallen off. The loss resulting from the difference of prices would not be entirely sustained by this country. While the great importations were taking place, and while the prices of foreign merchandize were advancing, the prices of our own manufactured goods were also advancing; so that if, on one hand, we were importing at high prices, we were sending out our own manufactures, on the other hand, at prices advanced proportionally to the rise on the raw material. He did not stand up to recommend that assistance should be given to the dealers in bubbles of any kind, rail-roads, or gas companies, or foreign speculations, nor to the holders of bills of exchange of a long date, or difficult of negotiation. His proposition was simple. He wished that relief should be applied to that class of individuals who, with ample means, were suffering from the general want of credit and confidence, and who, he would add, were suffering to an extent which he would hardlv venture to describe. No language could be used that would be too strong for the state of things to which it was to be applied. Every failure tended to aggravate the mischief and distress pervading the commercial world. Since the failure of the house of Goldschmidt, the consternation had spread in every direction. That house was deemed, like others, to have dealt too largely in foreign securities, and to have been concerned too more

Product details

  • Paperback | 492 pages
  • 189 x 246 x 25mm | 871g
  • United States
  • English
  • black & white illustrations
  • 1236744020
  • 9781236744029