A Practical Treatise on Banking, Currency, and the Exchanges

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Longmans, Green, and Company, 1866 - Počet stran: 254

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Strana 39 - Parliament, and that it shall not be lawful for any body politic or corporate whatsoever created or to be created, or for any other persons whatsoever united or to be united in covenants or partnership exceeding the number of six persons in that part of Great Britain called England, to borrow, owe, or take up any sum or sums of money on their bills or notes payable on demand or at any less time than six months from the borrowing thereof...
Strana 161 - Gold and silver having been chosen for the general medium of circulation, they are, by the competition of commerce, distributed in such proportions amongst the different countries of the world, as to accommodate themselves to the natural traffic which would take place if no such metals existed, and the trade between countries were purely a trade of barter.
Strana 247 - The riches, and, so far as power depends upon riches, the power of every country, must always be in proportion to the value of its annual produce, the fund from which all taxes must ultimately be paid.
Strana 22 - A currency is in its most perfect state, when it consists wholly of paper money, but of paper money of an equal value with the gold which it professes to represent.
Strana 158 - When the division of labor has been once thoroughly established, it is but a very small part of a man's wants which the produce of his own labor can supply.
Strana 158 - And thus the certainty of being able to exchange all that surplus part of the produce of his own labour, which is over and above his own consumption, for such parts of the produce of other men's labour as he may have occasion for, encourages every man to apply himself to a particular occupation, and to cultivate and bring to perfection whatever talent or genius he may possess for that particular species of business.
Strana 196 - Thousand eight hundred and forty-four, the issue of promissory notes of the Governor and Company of the Bank of England, payable on demand, shall be separated and thenceforth kept wholly distinct from the general banking business of the said Governor and Company ; and the business of and relating to such issue shall be thenceforth conducted and carried on by the said Governor and Company in a separate department, to be called " The Issue Department of the Bank of England...
Strana 130 - A bill is not finally discharged until paid by, or on behalf of the acceptor ; and a note by, or on behalf of the maker. It was held formerly that part payment by the drawer was a partial discharge to the acceptor, but it is now decided that payment by the drawer is no plea, but simply converts the holder into a trustee for the drawer, when the holder afterwards recovers of the acceptor. Payment by the drawer of an accommodation bill is a complete discharge. A bill made payable by the acceptor at...
Strana 173 - 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.
Strana 158 - Every man thus lives by exchanging, or becomes in some measure a merchant, and the society itself grows to be what is properly a commercial society.

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