A Brief Historical Sketch Of The Bank

Author : John Ramsay McCulloch
Publisher :
ISBN 13 : 9781332746828
Total Pages : 82 pages
Book Rating : 4.7/5 (468 download)

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Download or read book Historical Sketch of the Bank of England written by John Ramsay McCulloch and published by . This book was released on 2016-07-23 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Historical Sketch of the Bank of England: With an Examination of the Question as to the Prolongation of the Exclusive Privileges of That Establishment A security of this sort has been exacted in the case of the Bank of England; and the whole lent by the Bank to Government, must be sacrificed before the holders of her notes can sustain the smallest loss. Her stability has, therefore, been truly said, by Dr. Smith, to be equal to that of the British government. The system of taking securities having been found to answer so well in the case of the Bank of England, is a powerful argu ment in favour of its extension. Were securities taken from the country banks, their ultimate failure, in the capacity of banks of issue, would be rendered impossible and a degree of solidity would be given to our money system, which it is idle to expect it can ever attain, so long as it continues on its present footing. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.