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The Currency Question

The Currency Question


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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. 1841 Excerpt: ...of the Manchester Chamber of Commerce, published at the end of last year, and so far as he can judge, would hesitate very much in admitting the correctness of the statements it contains as to the great losses occasioned by fluctuations in the amount of the circulation. At the same time he confesses that these statements refer to descriptions of articles that he is not particularly acquainted with, that is, manufactured goods. His attention in perusing the statement was principally drawn to the inferences endeavoured to be established of the connection of the fall of prices with the management of the circulation by the Bank of England He is not disposed to attribute the fall in prices in any measure to the management of the circulation by the Bank of England. On the contrary, he is of opinion that there were causes in operation by which the fall might be accounted for without inferring any necessary agency of the circulation as administered by the Bank of England. Trade appeared to be in a sound state previous to 1835, and there was no indication of any effect upon prices produced by the Bank at the close of that year. From what was passing in the markets or produce of the country, there was no appearance of speculation or overtrading; the rate of interest was low, and attention was drawn to the extraordinary demand for our manufactures from America, and the extraordinary enterprise in various joint-stock companies in this country. The prices of most kinds of provisions were falling, and had fallen to a lower rate than they had been for the last sixty or seventy years. These circumstances negative the probability of any great effect having been produced on prices by the state of the circulation. In the early part of 1836 there was a considerable rise in most...


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Product Details
  • ISBN-13: 9781231676479
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 36
  • Spine Width: 2 mm
  • Width: 189 mm
  • ISBN-10: 1231676477
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 82 gr


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