Observations On the Principles Which Regulate the Course of Exchange And On the
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If he can make a profit of 10 per cent, by his business, he will always be willing to extend it by borrowing capital, for which he is to pay an interest of only 5 per cent. Here then are two parties exactly suited to the supply of each others wants, and co-operating from mutual interest towards the same object. The profits of the Bank are in proportion to the paper currency it can lend, and the expected profits of the mer- chant are in proportion to the paper currency he can borrow. Under such ...circumstances it is idle to talk of the Bank Directors having the power to contract their discounts when they perceive there has been an over-issue, unless a motive can be ' shewn for the exercise of that power. While the Restriction Act is in force, the only rule of their conduct will be the validity of the bills that are of- fered for discount, and they are bound by the duty they owe to the Bank Proprietors who appoint them, to profit by the facilities thus imprudently granted by the government, and to employ to the greatest possible advantage the funds of which they have the disposal.
What to read after Observations On the Principles Which Regulate the Course of Exchange And On the?
You can find similar books in the "Read Also" column, or choose other free books by Blake William to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
If he can make a profit of 10 per cent, by his business, he will always be willing to extend it by borrowing capital, for which he is to pay an interest of only 5 per cent. Here then are two parties exactly suited to the supply of each others wants, and co-operating from mutual interest towards the same object. The profits of the Bank are in proportion to the paper currency it can lend, and the expected profits of the mer- chant are in proportion to the paper currency he can borrow. Under such ...circumstances it is idle to talk of the Bank Directors having the power to contract their discounts when they perceive there has been an over-issue, unless a motive can be ' shewn for the exercise of that power. While the Restriction Act is in force, the only rule of their conduct will be the validity of the bills that are of- fered for discount, and they are bound by the duty they owe to the Bank Proprietors who appoint them, to profit by the facilities thus imprudently granted by the government, and to employ to the greatest possible advantage the funds of which they have the disposal.
What to read after Observations On the Principles Which Regulate the Course of Exchange And On the?
You can find similar books in the "Read Also" column, or choose other free books by Blake William to read onlineMoreLess
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