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abroad additional afforded amount appears arise assume balance of trade bank notes Bank of England bank paper bankers become bills borrow Britain bullion capital cash cause cent Chapter circulating medium circumstance coin commerce commodities consequence considerable considered continue country bank debt demand difficulty diminished diminution discount effect England notes equal evil excess exchange existing exported extended fall foreign give given gold greater guineas hands important increase interest issue lately less limitation loans London maintain manner manufactures means merchants millions naturally necessary 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 serve sufficient supply suppose suspension tion trade unfavourable whole
Side 245 - 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 230 - To limit the total amount of paper issued, and to resort for this purpose, whenever the temptation to borrow is strong, to some effectual principle of restriction; in no case, however, materially to diminish the sum in circulation, but to let it vibrate only within certain limits...
Side 161 - By issuing too great a quantity of paper, of which the excess was continually returning, in order to be exchanged for gold and silver, the Bank of England was for many years together obliged to coin gold to the extent of between eight hundred thousand pounds and a million a year; or at an average, about eight hundred and fifty thousand pounds.
Side 245 - Suppose four-fifths of all the money in Great Britain to be annihilated in one night, and the nation reduced to the same condition, with regard to specie, as in the reigns of the Harrys and Edwards, what would be the consequence?
Side 223 - In order to ascertain how far the desire of obtaining loans at the bank may be expected at any time to be carried, we must enquire into the subject of the quantum of profit likely to be derived from borrowing there under the existing circumstances.
Side 24 - In order to justify the supposition that a real bill (as it is called) represents actual property, there ought to be some power in the bill-holder to prevent the property which the bill represents, from being turned to other purposes than that of paying the bill in question. Ko such power exists ; neither the man who holds the real bill, nor the man who discounts it, has any property in the specific goods for which it was given...
Side 86 - It may be laid down as a general truth, that the commercial exports and imports of a state (that is to say, the exported and imported commodities, for which one country receives an equivalent from another) naturally proportion themselves in some degree to each other ; and that the balance of trade, therefore (by which is meant the difference between these commercial exports and imports), cannot continue for a very long time to be either highly favourable or highly unfavourable to a country.
Side 99 - ... 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 can always be turned to a more beneficial use than a very great overplus of any other commodity.
Side 245 - Again, suppose that all the money of Great Britain were multiplied five-fold in a night, must not the contrary effect follow? Must not all labour and commodities rise to such an exorbitant height that no neighbouring nations could afford to buy from us, while their commodities on the other hand, became...
Side 203 - ... the whole state, and makes its effect be felt on all ranks of people. At first, no alteration is perceived; by degrees the price rises, first of one commodity, then of another; till the whole at last reaches a just proportion with the new quantity of specie which is in the kingdom.