Memoirs of a banking house [ed. by R. Chambers].

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1860
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Page iv - But not around his honour'd urn Shall friends alone and kindred mourn ; The thousand eyes his care had dried Pour at his name a bitter tide ; And frequent falls the grateful dew For benefits the world ne'er knew. If mortal charity dare claim The Almighty's attributed name, Inscribe above his mouldering clay.
Page 96 - ... fluctuations in prices and in the state of trade. The buoyant and sanguine character of the human mind ; miscalculations as to the relative extent of supply and demand ; fluctuations of the seasons ; changes of taste and fashion ; legislative enactments and political events ; excitement or depression in the condition of other countries connected with us by active trading intercourse ; an endless variety of casualties acting upon those sympathies by which masses of men are often urged into a state...
Page 87 - ... up, and thus, in proportion as the stagnant and straightened circulation wants life and aid, it becomes every day more embarrassed, whilst each new calamity produced by such a state of things, contributes to spread and increase the general apprehension. It is therefore manifest, that by a possible combination of circumstances, the Bank might be driven to part with its last guinea, not only without having checked the drain, but with the certainty of increasing it, in proportion as the amount of...
Page 85 - To guard against commercial convulsions is not the direct or real purpose of the Bill. To subject the paper issues to such regulation as shall secure their conformity in amount and value with, and consequently their immediate convertibility at all times into, metallic money, is the purpose to which the provisions of the measure are avowedly directed...
Page 106 - the amount of their issues is exclusively regulated by the extent of local dealings and expenditure in their respective districts...
Page 101 - In point of fact, and historically, as far as my researches have gone, in every signal instance of a rise or fall of prices, the rise or fall has preceded, and therefore could not be the effect of, an enlargement or contraction of the bank circulation.
Page 3 - ... and the negotiation of bills of exchange on London, Holland, France, Italy, Spain, and Portugal. The negotiation of bills of exchange formed at that period a considerable part of the business of Edinburgh ; for there were then no country banks, and consequently the bills for the exports and imports of Perth, Dundee, Montrose, Aberdeen, and other trading towns in Scotland, with Holland, France, and other countries, were negotiated at Edinburgh...
Page xv - Under these circumstances, I published " The Economists Refuted ;" and explained, I believe, for the first time, the nature and extent of the advantages derived from trade. The principles which I propounded in "The Economists Refuted," Mr. Ricardo subsequently adopted in his great work on Political Economy and Taxation; and as my previous publication had been long out of print and forgotten, it was generally believed that it was reserved for Mr. Ricardo to correct the erroneous theory of Adam Smith,...
Page 83 - The instant this resolution of paying no more specie was known in the street, a scene of confusion and uproar took place, of which it is utterly impossible for those who did not witness it to form an idea.
Page 149 - that they supposed the gold which is drained off for exportation from a country using a currency exclusively metallic, to be collected by driblets at the fairs and markets, or from the tills of the grocers and mercers. They never even allude to the existence of such a thing as a great hoard of the metals, though upon the action of the hoards depends the whole economy of international payments between specie-circulating communities, while any operation of the money collected in hoards upon prices...

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