Loading ...INTRODUCTORY OBSERVATIONS.
Several members of the Joint-Stock Bank Association having thought that many of the articles of the Economist on Banking and Currency might be usefully re-published, the late Editor has been requested to make a selection of them for that purpose.
The Economist was set on foot by Mr. Joplin, with the support and approbation of the Committee of the Joint-stock Bank Association, not as a newspaper speculation, but simply to protect the interests and defend the principles of Joint-stock Banking, at a time when they were in great danger from being impugned and misunderstood. The object in starting it having, in a great measure, been accomplished, it was for this and other reasons given up, though there was much probability of its success as a newspaper, having gained considerable reputation, both at home and abroad, as well as an extensive circulation for the character of the paper, and the short period of its establishment, which was also gradually increasing.
It is likewise proper for the Editor to state, that the leading articles on Banking, Currency, and commercial subjects were written, or rather dictated, by Mr. Joplin, and the following are consequently entitled to any authority which may be attached to that gentleman’s name and experience.
Previous to the establishment of the Economist, there was a general disposition to charge the Joint-stock Banks with the existing: embarrassments; and one object of the following articles, as will be seen, was to direct public attention to the true source of the mischief, the management or mismanagement of the circulation by the Bank of England.
It seems by no means improbable, from the state of public opinion on the subject, as well as from their own recorded opinions, that Government will, sooner or later, adopt some course with respect to the Currency which may not turn out beneficial to those who issue it. h\ however, this be done with respect to the Joint-stock Banks, it will only be from want of a proper combination amongst them. Mr. Joplin has stated in his last pamphlet, that should any comprehensive measure for the regulation of the Currency be entertained, there is no necessity whatever for its being rendered unacceptable either to the Private or Joint-stock Banks ; and until such a statement, coming from any one at all possessing knowledge of the subject, be disproved, the Joint-stock Banks’ have a right, and are called upon to use their best exertions to prevent, the interests of their constituents being trifled with by projects for settling the currency.
The articles are not given in the order in which they appeared, but are divided, as far as practicable, into subjects and chapters, to each of which a concise introduction is appended.
It may likewise be proper to observe, that such articles only have been selected as possess general interest. Those which were addressed to the Joint-stock Banks in particular, recommending union, &c, it is hoped there is no necessity of repeating with reference to the banks themselves, and they would possess no interest with the public.
It will also be seen by the readers of the Economist, that the headings of some of the articles have been altered, and that the first one has been re-written, for the sake of increased perspicuity.
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