A Letter to the Right Hon. George Canning, to Explain in What Manner the Industry of the People, And the Productions of the Country, Are Connected With, And Influenced By, Internal Bills of Exchange, Country Bank Notes, And Country Bankers, Bank of Englan
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In our eReader you can find the full English version of the book. Read A Letter to the Right Hon. George Canning, to Explain in What Manner the Industry of the People, And the Productions of the Country, Are Connected With, And Influenced By, Internal Bills of Exchange, Country Bank Notes, And Country Bankers, Bank of Englan Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book A Letter to the Right Hon. George Canning, to Explain in What Manner the Industry of the People, And the Productions of the Country, Are Connected With, And Influenced By, Internal Bills of Exchange, Country Bank Notes, And Country Bankers, Bank of Englan
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46 unvvatched, irresponsible mode of conducting the note circulation of Scotland, tend to quicken all the opera- tions which produce excess. When one banker sees that another has issued more notes than usual, he is immediately advertised that his rival has taken a step in advance upon him, in the pursuit of gain ; and when profit, without risk, is the object, who will say that any Scotch banker is backward in taking the second step ?
The principle of limiting the discounts only by the security ...of the bills, so much reprobated in the prac- tice of the directors of the Bank of England, although exercised by them with extreme moderation, was, in Scotland, in full and unrestrained operation. And as one illustration of this, out of a hundred that might be cited, the Scotch bankers have long acted upon an established custom of discounting, for the travellers of wholesale English houses, the bills, or acceptances, of all the traders and shopkeepers in Scotland, at vari- ous dates, from two to six months, and taking in all classes ; not only the larger traders, but also the smallest shopkeeper, to a little hosier in a village ; the security of the English firm, the drawer of the bill, being in general an ample guarantee against loss.
What to read after A Letter to the Right Hon. George Canning, to Explain in What Manner the Industry of the People, And the Productions of the Country, Are Connected With, And Influenced By, Internal Bills of Exchange, Country Bank Notes, And Country Bankers, Bank of Englan?
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To quickly assess the difficulty of the text, read a short excerpt:
46 unvvatched, irresponsible mode of conducting the note circulation of Scotland, tend to quicken all the opera- tions which produce excess. When one banker sees that another has issued more notes than usual, he is immediately advertised that his rival has taken a step in advance upon him, in the pursuit of gain ; and when profit, without risk, is the object, who will say that any Scotch banker is backward in taking the second step ?
The principle of limiting the discounts only by the security ...of the bills, so much reprobated in the prac- tice of the directors of the Bank of England, although exercised by them with extreme moderation, was, in Scotland, in full and unrestrained operation. And as one illustration of this, out of a hundred that might be cited, the Scotch bankers have long acted upon an established custom of discounting, for the travellers of wholesale English houses, the bills, or acceptances, of all the traders and shopkeepers in Scotland, at vari- ous dates, from two to six months, and taking in all classes ; not only the larger traders, but also the smallest shopkeeper, to a little hosier in a village ; the security of the English firm, the drawer of the bill, being in general an ample guarantee against loss.
What to read after A Letter to the Right Hon. George Canning, to Explain in What Manner the Industry of the People, And the Productions of the Country, Are Connected With, And Influenced By, Internal Bills of Exchange, Country Bank Notes, And Country Bankers, Bank of Englan?
You can find similar books in the "Read Also" column, or choose other free books by Henry Burgess to read onlineMoreLess
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