An Illustration of Mr. Joplin's Views on Currency, and Plan for Its Improvement

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Baldwin, Cradock and Joy, 1825 - 120 pages
 

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Page xv - England, acting in copartnership, from borrowing, owing, or taking up any sum or sums of money on their bills or notes payable on demand, or at any less time than six months from the borrowing thereof: provided that such body politic or corporate, or persons united in covenants or partnerships, exceeding the number of six persons in...
Page 24 - When the market is very small, no person can have any encouragement to dedicate himself entirely to one employment, for want of the power to exchange all that surplus part of the produce of his own labour which is over and above his own consumption for such parts of the produce of other men's labour as he has occasion for.
Page 24 - When the division of labor has been once thoroughly established, it is but a very small part of a man's wants which the produce of his own labor can supply. He supplies the far greater part of them by exchanging that surplus part of the produce of his own labor, which is over and above his own consumption, for such parts of the produce of other men's labor as he has occasion for. Every man thus lives by exchanging, or becomes in some measure a merchant, and the society itself grows to be what is...
Page 24 - Every man thus lives by exchanging, or becomes in some measure a merchant, and the society itself grows to be what is properly a commercial society.
Page 69 - In a year of sudden and extraordinary plenty, there are funds in the hands of many of the employers of industry, sufficient to maintain and employ a greater number of industrious people than had been employed the year before, and this extraordinary number cannot always be had. Those masters, therefore, who want more workmen, bid against one another in order to get them, which sometimes raises both the real and the money price of their labor. The contrary of this happens in a year of sudden and extraordinary...
Page xxvii - You have stated, that the control which guards the public against any excess in the issues, is that no person would be, disposed to pay at the rate of five per cent, interest to the Bank for the use of their notes...
Page xxviii - J — -I do not think it is -the practice amongst country bankers who understand their business. ^ . Do not country bankers find it necessary to keep a deposit of Bank of England notes in proportion to the issues of their own papej) and to the probable demands which may be made upon them for.
Page xii - Wednesday the 1 7th of April, THE RIGHT HON. LORD VISCOUNT HARRINGTON, IN THE CHAIR, Resolved, — That this meeting are convinced of the superior security afforded by Joint Stock Banking Companies, beyond that derived from private Banks, as well as of their more extensive influence in promoting the Commercial and Agricultural prosperity of a country. Resolved, — That for the purpose of promoting the establishment of Joint Stock Companies, a committee be appointed, to correspond with other persons...
Page 49 - I have obtained information on nearly the same points from other Banks in a variety of parts; viz. Ashburton, Carlisle, Exeter, Hinckley, Litchfield, Scarborough, Sleaford, Stamford, Stockton, Tiverton, and Woodbridge. Each of these issue ordinarily "Notes to bearer on demand" ; though the quantity issued by several of them is never considerable. I have endeavoured to compute the relative average quantity of "Notes payable on demand...
Page xiv - Parliament; and that it should not be lawful for any body politic or corporate whatsoever, erected or to be erected, or for any other persons united or to be united in covenants or partnership, exceeding the number of six persons, in that part of Great Britain called England, to borrow, owe...

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