The Principles of Currency And Banking Being Five Lectures Delivered in Queen
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In our eReader you can find the full English version of the book. Read The Principles of Currency And Banking Being Five Lectures Delivered in Queen 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 The Principles of Currency And Banking Being Five Lectures Delivered in Queen
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An ounce; if the gold currency which makes up £3 175. LO^cl. Comes to weigh less than an ounce — if, when converted into bulHon in the crucible, this sum would not yield this weight, whosoever wishes to buy an ounce of gold bullion must give so much more for it as will make up a sum equal in weight to the bullion he desires to purchase. Such a state of things could not now occur, because, as we have already seen, a sovereign ceases to be a legal tender if it be less than 122^ grains in weight, ...and when presented at the Bank of England it will be clipped. A tliird cause of the excess of the market price over the mint price of gold, was the over-issue by the banks of inconvertible paper during the period of the resti'ic- c2 20 LECTURE I.
turn on cash pa3'mcnts, from 1797 to 1819. The Bank of England was then discharged from the liability of paying its notes in gold; and, after some time, it and the nnmerous country banks proceeded to issue so largely, and to increase the amount of the currency to such an extent, that the prices of every thing rose, and ol' course the price of gold bullion rose along with the rest.
What to read after The Principles of Currency And Banking Being Five Lectures Delivered in Queen?
You can find similar books in the "Read Also" column, or choose other free books by Richard Horner Mills to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
An ounce; if the gold currency which makes up £3 175. LO^cl. Comes to weigh less than an ounce — if, when converted into bulHon in the crucible, this sum would not yield this weight, whosoever wishes to buy an ounce of gold bullion must give so much more for it as will make up a sum equal in weight to the bullion he desires to purchase. Such a state of things could not now occur, because, as we have already seen, a sovereign ceases to be a legal tender if it be less than 122^ grains in weight, ...and when presented at the Bank of England it will be clipped. A tliird cause of the excess of the market price over the mint price of gold, was the over-issue by the banks of inconvertible paper during the period of the resti'ic- c2 20 LECTURE I.
turn on cash pa3'mcnts, from 1797 to 1819. The Bank of England was then discharged from the liability of paying its notes in gold; and, after some time, it and the nnmerous country banks proceeded to issue so largely, and to increase the amount of the currency to such an extent, that the prices of every thing rose, and ol' course the price of gold bullion rose along with the rest.
What to read after The Principles of Currency And Banking Being Five Lectures Delivered in Queen?
You can find similar books in the "Read Also" column, or choose other free books by Richard Horner Mills to read onlineMoreLess
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