A paper on the circulating medium, on seignorage, on gold coin, and on the statute ... entitled An act to regulate the issue of bank notes, Volume 10

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Page 45 - That this court cannot refrain from . adverting to an opinion, strongly insisted upon by some, that the Bank has only to reduce its issues, to obtain a favourable turn in the exchanges, and a consequent influx of the precious metals; the court conceives it to be its duty to declare that it is unable to discover any solid foundation for such a sentiment."* 125.
Page 80 - ... a tender of a note or notes of the governor and com- at tne Bnnk pany of the Bank of England, expressed to be payable to bearer on demand, banks"' shall be a legal tender, to the amount expressed in such note or notes, and shall be taken to be valid as a tender to such amount for all sums above five pounds on all occasions on which any tender of money may be legally made, so long as the Bank of England shall continue to pay on demand their said notes in legal coin...
Page 40 - And whereas it is necessary to limit the amount of silver bullion on which it shall be lawful for the Issue Department of the Bank of England to issue Bank of England notes : Be it therefore enacted, That it shall not be lawful for the Bank of England to retain in the Issue Department of the said bank at any one time an amount of silver bullion exceeding...
Page 43 - If we admit the principle of a metallic standard, and admit that the paper currency ought to be regulated by immediate reference to the foreign exchanges, — that there ought to be early contractions of paper on the efflux of gold, — we might, I think, infer from reasoning, without the aid of experience, that an unlimited competition in respect to issue will not afford a security for the proper regulation of the paper currency.
Page xii - ... government of Queen Elizabeth and King William III. in their currency legislation, and the strengthening of their power that resulted therefrom. Lord Liverpool's report describes the result of the reform in Queen Elizabeth's time : — " ' The joy expressed at the completion of this reform was very great : the Parliament and people in their addresses to Queen Elizabeth always mentioned the reformation of the coin as one of the principal merits of her reign, and it is recorded as such in the epitaph...
Page 80 - That it shall be lawful for the said Governor and Company to agree with every banker, who, under the Provisions of this Act, shall be entitled to issue bank notes, to allow to such banker a composition at the rate of One per centum per annum on the amount of Bank of England Notes which shall be issued and kept in circulation by such banker...
Page 48 - What answer did his Majesty's government give to that? — They resisted it from first to last. " The Bank of England issued one-pound notes at that period. Was that done to protect its remaining treasure? — Decidedly; and it worked wonders, and it was by great good luck that we had the means of doing it : because one box containing a quantity of one-pound notes had been overlooked, and they were forthcoming at the lucky moment.
Page 37 - Public service, that the Directors of the Bank of England should forbear issuing any Cash in payment, until the sense of Parliament can...
Page 25 - ... advances to government; the last having been granted with great reluctance on their part, on his pressing solicitations." In an interview, which took place on the 23d of the same month, on the loans to the emperor being mentioned, the governor assured Mr.

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