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Home > History and Archaeology > History > The Errors of the Banking Acts of 1844-5, as Exhibited in the Late Monetary Crisis; Being a Reply to the Times, to Mercator (Lord Overstone), and
The Errors of the Banking Acts of 1844-5, as Exhibited in the Late Monetary Crisis; Being a Reply to the Times, to Mercator (Lord Overstone), and

The Errors of the Banking Acts of 1844-5, as Exhibited in the Late Monetary Crisis; Being a Reply to the Times, to Mercator (Lord Overstone), and


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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. 1857. Excerpt: ... bank deposits, are liable to be put to the pinch when other interests come in the way, and even by the mere accidents of our sales and arrivals of gold, and that they have not that steady and regular support which their importance and safety demand. That these evils are the result of legislation, the sequel of this pamphlet, we hope, will show. THE BANKING ACTS AND THEIR DEFENDERS On the 6th of May, 1844, Sir Robert Peel moved in his place in the House of Commons the series of resolutions which form the bases of the Acts of that and the following year, and which continue to regulate the banking system of this country. By these resolutions the following, among other things, were declared expedient: --1st, That the Bank of England should be divided into two separate departments--one for the issue of notes, and another for the conduct of banking business; 2d, That the amount of securities upon which it would thenceforth be lawful for the Bank of England to issue promissory notes should be limited; 3d, That the issue of promissory notes by any bank not then issuing such notes, or by any bank thereafter to be established in any part of the United Kingdom, should be prohibited; and 4th, That such banks in England and Wales as then issued promissory notes should continue to issue, subject to such conditions and limitations as might be prescribed by law. The resolutions were adopted; and the same session the Act commonly called " The Bank Charter Act" was passed, by which it was provided that the amount of securities (Government stock) on which the Bank of England should issue notes be 14,000,000, and that the whole of its circulation above that amount be issued exclusively on the basis of bullion. With respect to provincial banks of issue in England and Wal...


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Product Details
  • ISBN-13: 9781235672026
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 52
  • Spine Width: 3 mm
  • Width: 189 mm
  • ISBN-10: 1235672026
  • Publisher Date: 01 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 163 gr

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The Errors of the Banking Acts of 1844-5, as Exhibited in the Late Monetary Crisis; Being a Reply to the Times, to Mercator (Lord Overstone), and
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