Author : James Stewart
Publisher : Theclassics.Us
ISBN 13 : 9781230197562
Total Pages : 142 pages
Book Rating : 4.1/5 (975 download)
Book Synopsis An Inquiry Into the Principles of Political Economy Volume 2 by : James Stewart
Download or read book An Inquiry Into the Principles of Political Economy Volume 2 written by James Stewart and published by Theclassics.Us. This book was released on 2013-09 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1770 edition. Excerpt: ... CHAP. III. Of Banks. IN deducing the principles of banks, I shall dd the best I can to go through the subject systematically. I have divided credit into three branches, private, mercantile, and pub ic. This distribution will be of use on many occasions, and shall be followed as fas as it will go, consistently with perspicuity: but as I have often observed of subjects of a complex nature, they cannot be brought under the influence of a few general principles, without running into the modern vice of forming systems, by wire-drawing many relations in order to make them answer. The great operations of domestic circulation are better diicovered by an examination of the principles upon which we find banking established, than by any other method I can contrive. It has been by inquiry into the nature of those banks which are the most remarkable in Europe, that 1 have gathered the little knowledge I have of the theory of circulation. This induces me to think that the best way of communicating my thoughts on that subject, is to lay down the result of my inquiries relative to the very object of them. After comparing the operations of different banks in promoting circulation, I find 1 can divide them, as to their policy, into two general classes, viz. those which issue notes payable in coin to bearer; and those which only transfer the credit written down in their books from one person to another. Those which issue notes, I call banks of circulation; those which transfer their credit, I call banks of deposit. Both indeed may be called banks of circulation, because by their means circulation is facilitated; but as different terms serve to distinguish ideas different in themselves, those I here employ, will answer the purpose as well as any others, ...
