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An Inquiry Into the Nature and Effects of the Paper Credit of Great Britain
Uten tilgangsbegrensning - 1807
An Inquiry Into the Nature and Effects of the Paper Credit of Great Britain ...
Ingen forhåndsvisning tilgjengelig - 2014
An Enquiry Into the Nature and Effects of the Paper Credit of Great Britain ...
Ingen forhåndsvisning tilgjengelig - 2014
abroad additional afford amount appears arise assumed balance of trade bank notes Bank of England bank paper banker become bills borrowers Britain bullion capital cash cause cent Chapter circulating medium circumstance coin commerce commodities consequence considerable considered continue country bank debt demand difficulty diminished discount effect encrease England notes equal evil excess exchange existing exported extended fall foreign give given gold greater guineas hands important interest issue lately lend less limitation loans London manner manufactures means ment merchants millions naturally necessary object observed obtained occasion paper credit particular payments perhaps period persons pounds present principle probably produce profit proportion quantity question raise reason received reduction rendered respect rise seems sell serves Smith sufficient supply suppose suspension tion trade unfavourable whole
Side 311 - Must not the price of all labour and commodities sink in proportion, and everything be sold as cheap as they were in those ages? What nation could then dispute with us in any foreign market, or pretend to navigate or to sell manufactures at the same price, which to us would afford sufficient profit?
Side 30 - In answer to this statement it may be observed, first, that the notes given in consequence of a real sale of goods cannot be considered as on that account certainly representing any actual property. Suppose that A sells 1001. worth of goods to B at six months' credit, and takes a bill at six months for it; and that B, within a month after, sells the same goods, at a like credit, to C, taking a like bill ; and again, that C, after another month, sells them to D, taking.a like bill, and so on.
Side 271 - So that when corn rises to treble the common rate, it may be presumed that we want above one-third of the common produce ; and if we should want five-tenths, or half the common produce, the price would rise to near five times the common rate.
Side 205 - ... metals in coin. But, in every country, the greater part of the current coin is almost always more or less worn, or otherwise degenerated from its standard. In Great Britain it was, before the late reformation, a good deal so, the gold being more than two per cent and the silver more than eight per cent below its standard weight.
Side 309 - That provisions and labour should become dear by the encrease of trade and money, is, in many respects, an inconvenience; but an inconvenience that is unavoidable, and the effect of that public wealth and prosperity which are the end of all our wishes.
Side 310 - But there appears no reason for encreasing that inconvenience by a counterfeit money, which foreigners will not accept of in any payment, and which any great disorder in the state will reduce to nothing. There are, it is true, many people in every rich state who having large sums of money, would prefer paper with good security; as being of more easy transport and more safe custody. If the public provide not a bank, private bankers will take advantage of this circumstance; as the goldsmiths formerly...
Side 131 - The country, therefore, which has the favourable balance, being, to a certain degree, eager for payment, but not in immediate want of all that supply of goods which would be necessary to pay the balance, prefers gold as part, at least, of the payment ; for gold...
Side 45 - ... to erect and to maintain than the old one. But in what manner this operation is performed, and in what manner it tends to...
Side 309 - And in general we may observe, that the dearness of every thing, from plenty of money, is a disadvantage which attends an established commerce, and sets bounds to it in every country, by enabling the poorer states to undersell the richer in all foreign markets.