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Use and Abuse; Or, Right and Wrong, in the Relations to Labour, of Capital, Machinery, and Land

Use and Abuse; Or, Right and Wrong, in the Relations to Labour, of Capital, Machinery, and Land


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated.1852 Excerpt: ... which the issue of paper should never extend. On such a system, the interest currently charged for accommodation by our banks would go to form no small item of the public revenue. If the accommodation afforded by our banking system, or, in other words, if our currency paper could be restricted in its use to the facilitating the production of permanent utilities, then it might subserve an important purpose in the distribution and application of the saved fruits of industry. But no means have hitherto been applied, or even discovered, for effecting this; and both our banking system, and the constitution of society in this country, render their application all but impossible. You cannot confer on me the power of producing permanent utilities by accommodating me with a bank credit, but you confer on me the power of using the capital thus placed at my command, if I so please, and if my fancy or caprice suggest, in the production of what are not permanent utilities--in the production of what may not be utilities at all. Nay, you cannot prevent me, if I so please, from consuming a portion, or, perhaps, the whole of it in perishable objects--on articles of dress, of diet, or of decoration--and which I could not otherwise have obtained. Without this accommodation-paper, I must have parted with my stock, in order to have obtained these, and I would have seen, and, indeed, felt at once what I was about; but this paper enables me to retain possession of my stock for the time being, and to consume it too. Without these facilities of credit, persons must have been content to labour till they had earned a capital, or have been indebted to some friend or neighbour for the loan of so much money to have aided them in commencing business on a small scale, or in stocking a sma...


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Product Details
  • ISBN-13: 9781151383471
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 28
  • Spine Width: 2 mm
  • Width: 189 mm
  • ISBN-10: 1151383473
  • Publisher Date: 01 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 68 gr


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Use and Abuse; Or, Right and Wrong, in the Relations to Labour, of Capital, Machinery, and Land
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