Reflections Suggested By a Perusal of Mr J Horsley Palmers Pamphlet On the Ca
Reflections Suggested By a Perusal of Mr J Horsley Palmers Pamphlet On the Ca
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The demand has been produced by an alteration in the relative value of gold and silver in that country, by which gold is rendered a more ad- vantageous medium of payment than it was pre- viously ; and as this cause appears to be perma- nent in its nature, we do not see with what reason we can expect that the effect, viz. The detention of gold in that country, will be temporary. If re- mittances in specie are to come from America, may we not more reasonably expect that they will be made in the d...epreciated metal, silver?
VIII. We have already adverted to the in- convenience arising from our having to reason 38 upon very broken and imperfect data. The pam- phlet of Mr. Palmer is far from giving that full and detailed information respecting the ac- tion of the Bank, without which it is impos- sible to form a correct view of the character and effect of its proceedings. In this respect the pamphlet is lamentably deficient and unsatisfactory. We are told that the issues of the Bank have been reduced nearly 25 per cent, between the month of March 1834, and July 1836; but the simple con- trast of the state of the circulation at any two periods, selected with the view of producing a particular result, is far from being sufficient for the intended purpose : we ought to have before us a detailed statement, month by month for the whole of the intervening period, of the amount of the circulation and of the bullion.
What to read after Reflections Suggested By a Perusal of Mr J Horsley Palmers Pamphlet On the Ca?
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To quickly assess the difficulty of the text, read a short excerpt:
The demand has been produced by an alteration in the relative value of gold and silver in that country, by which gold is rendered a more ad- vantageous medium of payment than it was pre- viously ; and as this cause appears to be perma- nent in its nature, we do not see with what reason we can expect that the effect, viz. The detention of gold in that country, will be temporary. If re- mittances in specie are to come from America, may we not more reasonably expect that they will be made in the d...epreciated metal, silver?
VIII. We have already adverted to the in- convenience arising from our having to reason 38 upon very broken and imperfect data. The pam- phlet of Mr. Palmer is far from giving that full and detailed information respecting the ac- tion of the Bank, without which it is impos- sible to form a correct view of the character and effect of its proceedings. In this respect the pamphlet is lamentably deficient and unsatisfactory. We are told that the issues of the Bank have been reduced nearly 25 per cent, between the month of March 1834, and July 1836; but the simple con- trast of the state of the circulation at any two periods, selected with the view of producing a particular result, is far from being sufficient for the intended purpose : we ought to have before us a detailed statement, month by month for the whole of the intervening period, of the amount of the circulation and of the bullion.
What to read after Reflections Suggested By a Perusal of Mr J Horsley Palmers Pamphlet On the Ca?
You can find similar books in the "Read Also" column, or choose other free books by Samuel Jones Loyd Overstone to read onlineMoreLess
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