PREFACE I earnestly invite the most serious attention, with unbiased mind, of every one especially rulers, statesmen, legislators, and economists — to this analysis of the world’s prices and foreign and colonial exchanges of intermediaries; and to the simple arithmetical demonstration to travellers, traders, and financiers of their effects upon the interchanges of things between man...
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INTRODUCTION THE following work is an attempt to explain, in as clear and simple language as possible, the elementary principles of Currency and Banking, their progressive development in practice, and the laws at present affecting them. Many of the works already existing on these subjects are excellent in several respects, and contain much valuable information; but...
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PREFACE THE principles of the following Work have appeared in former publications, but are more fully developed in this. Those publications have not been generally read, but were not, perhaps, without their effect. They at least have furnished the sub-stratum of more than one popular essay: if any writings on subjects of Political Economy can...
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PREFACE In the present edition of these Lectures I have corrected some inaccuracies which occurred in the first. I have in many places, where my meaning seemed to be obscure, endeavoured to make it plain ; and I have, in some instances, altered the arrangement of the subjects. I believe that they are thus better...
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THE metals have so long performed the use of money, that money and coin are become almost synonymous, although in their principles they be quite different. The first thing therefore to be done in treating of money, is, to separate two ideas, which, by being blended .together, have very greatly contributed to throw a...
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INTRODUCTION Great difficulty was frequently experienced in the course of this work in clearly distinguishing between different notions which had to be expressed by means of one and the same term in English. I have attempted to solve this difficulty by printing a genus with a small letter and a species with a capital letter....
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PREFACE by the Author The object of the following pages is to explain, is a plain and familiar manner, what money, Banking, and currency, properly speaking, are ; and how it behoves us to deal with them at present in this country. I conceive that this object may be realized in a manner the most...
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PREFACE THE literature on the subject of the present book is remarkably meagre. We look practically in vain for any book in any language treating of the highly-important and likewise interesting subject of the transfer of money from one nation to another. The fact is all the more astonishing, as Arbitrage is of the...
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ESSAY ON BANKING BANKS are by far the most important of all our commercial establishments. They are the fountains of our currency, the depositories of our capital, and at once the wheels and pillars of our trade. Business to any great extent could not be carried on without them. All who have cash transactions...
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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...
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People frequently act in haste, and repent at leisure. In this case, there was no cause for repentance. But it naturally led to reflection, and it appeared to me, that instead of coming forward in times of such danger, and blindly entering into an obligation, so unlimited, in favour of Banks, which, for any...
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Importance of the Subject. In an address to the stockholders of the United States Bank, at their meeting in 1S28, Mr. N. Biddle, the President of that institution, stated, that, of five hundred and forty-four Banks in the United States, one hundred and forty-four had been openly declared bankrupt, and about fifty more had...
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INTRODUCTION. It is alleged by persons of great political influence, that defects very injurious to the community exist in the present system of Banking in England, and manifold evils in its practice ; and that the Legislature is imperatively called upon to remove those defects, by sanctioning some new method of Banking, and introducing...
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PREFACE THE reason for being of this work is the growing interest in the United States in financial and economic subjects and the fact that they promise to be the paramount issues of American politics for many years to come. My purpose has been to bring together, in compact form, the leading facts regarding the...
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