The Principles of Currency and Exchange

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J. Budd, 1805 - 186 pàgines
 

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Pàgina 107 - assertions are void of truth,' the Report of the Committee of the House of Commons appointed to inquire into the state of oak timber throughout the kingdom in 1771 is also void of truth. If our arguments are ' void of judgment and sense...
Pàgina 175 - Committee go on to say) it has continued ever since unaffected by the failure of the Bank of Ayr, the convulsions to credit in general in 1792 and 1793, the failures in 1795, and the difficulties which caused the restriction in 1797 in England, but which was not extended to the Chartered Banks of Scotland ; and all this notwithstanding the great presumption, that if an account of all pecuniary transactions between Scotland and England could be ascertained it must have often happened that the balance...
Pàgina 180 - ... the subject of Exchange they wish to observe, that if their inquiries have failed in enabling them to propose any effectual remedy, still a remedy ought to be sought for by the wisdom of the House; for that a great country, now placed as Ireland is under the same Legislature with England, forming a constituent part of the United Empire equally as England, or any county in England does, its metropolis not so distant from London as any part of Scotland, Newcastle, Carlisle or Durham, should labour...
Pàgina 168 - If paper, therefore, by depreciation comes to represent a less quantity of money than it professes to do, it must make the exchange, which it is to pay, appear unfavourable, in the same manner as, coin, in which it were to be paid, would...
Pàgina 177 - But all the benefits proposed by this mode of remedies would be of little avail, and of very limited duration, if it did not promise at the same time to cure the depreciation of Paper in Ireland by diminishing its over issue; a consequence which Your Committee are firmly persuaded must...
Pàgina 157 - England, when the expense of conveying them from one country to the other does not amount to 1 per cent; but further, the circulating Paper of Ireland seems equally depreciated when compared with a Bank of England Note; for though a Note of each Bank may profess to represent the same quantity of Gold, the man who wants to obtain the latter will find the former as much inferior in value to it as it is to a Golden Guinea, and he must give the same additional sum to obtain it as to obtain the Guinea....
Pàgina 17 - William's time, the Exchange between England and Holland, computed in the usual manner according to the standard of their respective mints, was 25 per cent. against England ; but the value of the current coin of England was. more than 2,5 per cent. below the standard value...
Pàgina 178 - And your committee do, in express terms, declare their clear opinion, that it is incumbent on the directors of the Bank of Ireland, and their indispensable duty, to limit their paper at all times of an unfavourable exchange during the continuance of the restriction, exactly on the same principle as they would and must have done, in case the restriction did not exist, and that all the evils of a high and fluctuating exchange must be imputable to them if they fail to do so.
Pàgina 175 - there was, after. the peace of Versailles, in 1763, an exchange of 5 or 6 per cent, against Scotland with London, created by persons collecting gold from the different, Banks there, bringing it to London, and passing their bills at 176 Edinburgh for it, in order to put a profit into their own pockets by raising the exchange.
Pàgina 27 - ... That if the foot measure was altered at once over all England, by adding to it, or taking from it, any proportional part of its standard length, the alteration would be best discovered, by comparing the new foot with that of Paris, or of any other country, which had suffered no alteration'. 'Just so, if the pound sterling, which is the English unit, shall be found any how changed; and if the variation it has met with be difficult to ascertain, because of a complication of circumstances; the best...

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