Reflections Suggested By a Perusal of Mr. J. Horsley Palmer's Pamphlet: On ...
Reflections Suggested By a Perusal of Mr. J. Horsley Palmer's Pamphlet: On ...
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In our eReader you can find the full English version of the book. Read Reflections Suggested By a Perusal of Mr. J. Horsley Palmer's Pamphlet: On ... 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 Reflections Suggested By a Perusal of Mr. J. Horsley Palmer's Pamphlet: On ...
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The importance of a rigid adherence to this rule cannot be over-estimated : and if it be incompatible, as is alleged by some, with the mixed functions of the Bank of England, it seems to become a very serious question, whether it is not better to separate altogether the business of banking from that of regulating the currency, rather than suffer so essential a rule to be in any degree com- promised. It is not, however, very easy to per- ceive any insuperable difficulty in rendering the currency... department of the Bank of England totally distinct and separate from the management of its other business ; so that the one should not interfere with or affect the other more than they would do were they under the control of different bodies. In proportion as these two functions are kept distinct, will each be rendered more effectual for its proper purpose. The two branches of the business of the Bank thus divided will proceed with equal efficiency and without mutual inter- ruption. Like those animals described by natu- ralists, whose peculiar property it is that, when cut into two parts, they move off in opposite di- Digitized by Googk 17 rections, each half equally full of life and energy; thus, if the two natures of the Bank of England were completely dissociated, each would proceed to the discharge of its respective functions with more simplicity and efficiency, unencumbered by the conflicting tendencies and opposite action of its former companion.
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To quickly assess the difficulty of the text, read a short excerpt:
The importance of a rigid adherence to this rule cannot be over-estimated : and if it be incompatible, as is alleged by some, with the mixed functions of the Bank of England, it seems to become a very serious question, whether it is not better to separate altogether the business of banking from that of regulating the currency, rather than suffer so essential a rule to be in any degree com- promised. It is not, however, very easy to per- ceive any insuperable difficulty in rendering the currency... department of the Bank of England totally distinct and separate from the management of its other business ; so that the one should not interfere with or affect the other more than they would do were they under the control of different bodies. In proportion as these two functions are kept distinct, will each be rendered more effectual for its proper purpose. The two branches of the business of the Bank thus divided will proceed with equal efficiency and without mutual inter- ruption. Like those animals described by natu- ralists, whose peculiar property it is that, when cut into two parts, they move off in opposite di- Digitized by Googk 17 rections, each half equally full of life and energy; thus, if the two natures of the Bank of England were completely dissociated, each would proceed to the discharge of its respective functions with more simplicity and efficiency, unencumbered by the conflicting tendencies and opposite action of its former companion.
What to read after Reflections Suggested By a Perusal of Mr. J. Horsley Palmer's Pamphlet: On ...?
You can find similar books in the "Read Also" column, or choose other free books by Baron Samuel Jones Loyd Overstone to read onlineMoreLess
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