A Treatise on Coins, Currency, and Banking: With Observations on the Bank Act of 1844 and on the Reports of the Committees on the House of Lords and of the House of Commons on the Bank Acts, Volume 1
Longman, Brown, Green, Longmans, & Roberts, 1858 - 397 pages
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according Adam Smith advances amount appears bank notes Bank of England banker bills bullion called capital carried causes cent circulation commerce Committee commodities Company consequence considerable considered continued convertibility currency debt demand deposit discount duty effect engagement equal established evidence exchange exportation extent foreign give given gold and silver gold coin Government Governor greater House importation increase interest issue issue department legal tender less limited London Lord loss manufactures means measure ment mercantile merchants metals millions obligation observes occasion operation opinion paid payment period person pound present pressure principle produce profit promise promissory notes purchase quantity question received regulations reserve respect securities shillings silver coin sovereign standard supply supposed things tion trade United weight whole
Page 128 - The natural price, therefore, is, as it were, the central price, to which the prices of all commodities are continually gravitating. Different accidents may sometimes keep them suspended a good deal above it, and sometimes force them down even somewhat below it. But whatever may be the obstacles which hinder them from settling in this center of repose and continuance, they are constantly tending towards it.
Page 579 - The uniform, constant, and uninterrupted effort of every man to better his condition, the principle from which public and national, as well as private opulence is originally derived, is frequently powerful enough to maintain the natural progress of things toward improvement, in spite both of the extravagance of government, and of the greatest errors of administration.
Page 350 - If it be well weighed, to say that a man lieth, is as much as to say that he is brave towards God and a coward towards men. For a lie faces God, and shrinks from man.' Surely the wickedness of falsehood and breach of faith cannot possibly be so highly expressed, as in that it shall be the last peal to call the judgments of God upon the generations of men: it being foretold, that, when 'Christ cometh,' he shall not 'find faith upon the earth.
Page 350 - To pass from theological and philosophical truth, to the truth of civil business; it will be acknowledged, even by those that practise it not, that clear and round dealing is the honour of man's nature ; and that mixture of falsehood is like allay in coin of gold and silver; which may make the metal work the better, but it embaseth it.
Page 119 - Thou sawest till that a stone was cut out without hands, which smote the image upon his feet that were of iron and clay, and brake them to pieces. Then was the iron, the clay, the brass, the silver, and the gold, broken to pieces together, and became like the chaff of the summer threshingfloors; and the wind carried them away, that no place was found for them: and the stone that smote the image became a great mountain, and filled the whole earth.
Page 252 - ... the toil and trouble which it can save to himself, and which it can impose upon other people. What is bought with money, or with goods, is purchased by labour, as much as what we acquire by the toil of our own body.
Page 253 - The substitution of paper in the room of gold and silver money, replaces a very expensive instrument of commerce with one much less costly, and sometimes equally convenient. Circulation comes to be carried on by a new wheel, which it costs less both to erect and to maintain than the old one.
Page 149 - Resolved, That the President, in the late Executive proceedings in relation to the public revenue, has assumed upon himself authority and power not conferred by the Constitution and laws, but in derogation of both.
Page 199 - The commerce and industry of the country, however, it must be acknowledged, though they may be somewhat augmented, cannot be altogether so secure when they are thus, as it were, suspended upon the Daedalian wings of paper money as when they travel about upon the solid ground of gold and silver.
Page 328 - The statesman, who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it.