Here this work was intended to close, but the publication of Mr. Horsley Palmer's Pamphlet upon the "Causes and Consequences of the Pressure on the Money Market," and the discussions it occasioned, induced me to write two additional Sections. My chief object in doing this has been to repel the charges brought against the Joint Stock Banks. In noticing the other causes to which the recent pressure has been assigned, I have contented myself with transcribing the sentiments of other writers.

As the publication of Mr. Horsley Palmer has been "looked upon as a sort of official document, embodying the views and opinions of the directors generally," it may be proper to inform the reader, that the work now before him conveys only the individual opinions of the author.

38, THROGMORTON STREET,

May 1, 1837.

J. W. G.

WORKS

PUBLISHED BY THE SAME AUTHOR.

1. THE HISTORY AND PRINCIPLES OF BANKING.

Third Edition.

"A work likely to be extensively useful at this period has just appeared, entitled, "The History and Principles of Banking." By James William Gilbart. The author's object has not been to advance any new theories of his own, but to make the reader acquainted with the facts and principles of the question, as deduced from the existing practice. In this, his long experience must make him a very competent guide. The numerous claims on our crowded columns prevent our giving a full notice of the work: the recommendation of which may be summed up in his own phrase—that it is a Grammar of banking."-Times, Feb. 20, 1834.

66

"This work may be advantageously consulted for a practical knowledge of banking in all shapes from the Bank of England down to loan banks, and the new law to facilitate the purchase of small annuities. It should also be added, that a variety of tables are contained in the volume, not mere transcripts from official documents, but intelligible recasts by a man of business. So far as we are able to judge by inspection, they seem to have the rare merit of containing what is wanted, and nothing more."-Spectator, Feb. 15,

1834.

X

"Combining a clear appreciation of the science of banking, with the best practical knowledge of his business, we have seen no work on this subject which better deserves to be consulted and studied than Mr. Gilbart's volume."-Literary Gazette, Feb. 22, 1834.

"Mr. Gilbart claims for his book that it contains both features (theory and practice), and is a scientific work written by a practical man. His claims appear to be fully borne out by the perspicuity of his views, and the analytical spirit with which he treats the subject. He is fully master of the details, and ascends with equal ease to the examination of the elementary principles. His account of the nature of joint stock banks, of branch banks, of deposit, remittance, circulation, and discount, of cash credit, loan and savings banks, will be found by men of business to be of considerable value for reference." -Atlas, Feb. 24, 1834.

"We have been highly pleased with its agreeable and instructive character, and we think that no man connected with trade should be without this book."-Monthly Review, May, 1834.

"As the author most truly says in his preface, the aim of this book is to impart useful knowledge. Those who are ignorant of the art, or rather science of banking, (for banking may be considered as a science in political economy) will here obtain a knowledge of facts and principles which will sufficiently enlighten their minds on the subject, and they will have the good fortune of not having principles instilled which may lead them into error. The question of currency, cash payments, &c. which have been such a source of labyrinthic litigation are not mooted. It is a clear and well written work, and must have been written by a person endowed with a lucid head and an impartial mind."-Metropolitan Magazine, August, 1834.

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"A more complete and accurate work, with less irrelevant matter, we never read."-Gentleman's Magazine, October, 1834.

“We have before us a most interesting work from the pen of Mr. Gilbart, entitled "The History and Principles of Banking." This subject, which is generally considered abstruse and recondite, has been, by the pen of Mr. Gilbart, rendered so plain, that the most ordinary capacity may easily comprehend it. It requires such a man as the manager of the London and Westminster Bank to produce this work. A speculative theorist, no matter how acute his intellect, must have failed in presenting us with those forcible details which belong only to the practical man, whilst to the mere man of business, that power of combination and mastery of language must have been wanting, which the literary abilities of Mr. Gilbart have enabled him to bring to bear upon the subject. The peculiar interest which it possesses, is owing, as the author truly states in his preface, to the circumstance of its being a scientific work, written by a practical man. The subject of banking, at all times of such importance to a mercantile country, possesses paramount claims to attention at the present moment, when two fresh bodies of Argentarii have come into the field to bear away whatever spoil may have escaped the hands of the veteran campaigners. "The History and Principles of Banking" should be in the hands of every man, who wishes to be acquainted with the manner in which the money transactions of this great country are carried on.' - Waterford Chronicle, June 9, 1836.

2. THE HISTORY OF BANKING IN IRELAND.

"It affords a succinct view of the acts of parliament, through which the banking operations of Ireland were affected from the time of Henry VI. to the present day, shewing briefly the main features of the monetary system in that country."-Atlas, June 19, 1836.

xii

"It is a valuable statistical work, and a desirable appendix to his "History and Principles of Banking."-Gentleman's Magazine, July,

1836.

"It gives a very clever and succinct account of the History of Banking in Ireland."-Monthly Review, July, 1835.

"It is a useful book for those who are anxious for practical information, touching the money matters of the sister kingdom; or who wish, by investigating her banking system, to track her slow and late progress in commerce and civilization."-Spectator, July, 1836.

3. A PRACTICAL TREATISE ON BANKING.

Fourth Edition.

"A valuable and useful little work."-Mr. McCullock's Smith's Wealth of Nations."