Cobbetts Paper Against Gold

Author : William Cobbett
Publisher :
ISBN 13 : 9781333075422
Total Pages : 248 pages
Book Rating : 4.0/5 (754 download)

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Download or read book Cobbett's Paper Against Gold written by William Cobbett and published by . This book was released on 2016-07-19 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Cobbett's Paper Against Gold: Containing the History and Mystery of the Bank of England, the Funds, the Debt, the Sinking Fund, the Bank Stoppage, the Lowering and the Raising of the Value of Paper-Money Not so, however, think the Gentle men of the Bullion Committee. They think, or, at least, they evidently wish to make others think, that it is possi ble to lessen the quantity of the paper money, and to cause guineas to come back again and to pass from hand to hand as in former times; they would fain 'have us believe, that this can be done Without the total destruction of the paper-money; and, indeed, they have actually recommended to the House of Commons to pass a Law to eause the Bank in Threadneedle Street, London, commonly called the Bank of England, to pay its notes in real money, at the end OF t'vo years from this time. Two years is a pretty good lease for people to have of this sort. This Bank promises to pay on demand. It does this upon the face of every 'one of its notes; and, therefore, as a remedy for the evil of want of gold, to propose, that this Bank should begin to pay in two years' time, is something, which I think, would not have been offered to the public in any age but this, and, even in this age, to any public except the 'public in this country. The notes of the Bank qf England bear, upon the face of them, a promise that the Ban kers, 'or Bank Company, who issue the notes, v; ill pay the notes upon demand. Now, what do we mean by paying a note? Certainly we do not mean, the giving of one note for another note. Yet, this is the sort of payment, that people get atthe Bank of England; and this sort of pay ment the Bullion Committee does not pnopose even to begin to put an end to in less than two years from this time. 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.