Banks And Currency
Banks And Currency
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The situation of two of those countries is in nowise parallel to that of the United States. Twenty shilling notes continue to circu- late in Scotland ; and the banking system of that country offers an anomaly which has not been satisfactorily explained. The numerous failures of country banks in England have been some- times ascribed to their not being incorporated companies; which is disproved by the solidity of the numerous Scotch banks of the same description, and by the repeated failures of ...our own chartered banks ; and sometimes to their not being permitted by law to consist of a sufficient number of partners. But of the twenty-nine banks of Scotland which are not chartered, seven- teen are voluntary associations, consisting of from three to nine- teen partners, the credit of which is as good as that of the other twelve unincorporated, and of the three chartered banks of that country. We believe, that independent of the peculiarities which distinguish liie Scotch banking system, its superior sta- bility must be principally ascribed to the persevering but cau- tious enterprise, to the great frugality, and generally to the habits of that nation.
What to read after Banks And Currency?
You can find similar books in the "Read Also" column, or choose other free books by Albert Gallatin to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The situation of two of those countries is in nowise parallel to that of the United States. Twenty shilling notes continue to circu- late in Scotland ; and the banking system of that country offers an anomaly which has not been satisfactorily explained. The numerous failures of country banks in England have been some- times ascribed to their not being incorporated companies; which is disproved by the solidity of the numerous Scotch banks of the same description, and by the repeated failures of ...our own chartered banks ; and sometimes to their not being permitted by law to consist of a sufficient number of partners. But of the twenty-nine banks of Scotland which are not chartered, seven- teen are voluntary associations, consisting of from three to nine- teen partners, the credit of which is as good as that of the other twelve unincorporated, and of the three chartered banks of that country. We believe, that independent of the peculiarities which distinguish liie Scotch banking system, its superior sta- bility must be principally ascribed to the persevering but cau- tious enterprise, to the great frugality, and generally to the habits of that nation.
What to read after Banks And Currency?
You can find similar books in the "Read Also" column, or choose other free books by Albert Gallatin to read onlineMoreLess
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