Breach of Privilege; Being the Evidence of Mr. John Bull, Taken Before the Secret Committee on the National Distress in 1847 and 1848. T Clutton Salt

Breach of Privilege; Being the Evidence of Mr. John Bull, Taken Before the Secret Committee on the National Distress in 1847 and 1848
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Author: T Clutton Salt
Number of Pages: 48 pages
Published Date: 01 May 2012
Publisher: Rarebooksclub.com
Publication Country: Miami Fl, United States
Language: English
Format: eBook
ISBN: 9781231053782
File Name: Breach.of.Privilege;.Being.the.Evidence.of.Mr..John.Bull,.Taken.Before.the.Secret.Committee.on.the.National.Distress.in.1847.and.1848.pdf
Download Link: Breach of Privilege; Being the Evidence of Mr. John Bull, Taken Before the Secret Committee on the National Distress in 1847 and 1848
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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. 1849 Excerpt: ...what would have been the consequence if the Bank could not have met all its payments by means of its reserve?--It is frightful to contemplate what the consequence would have been. 5893. What would probably have been the effect upon the amount of bullion in the issue department?--It would have been drawn out. 5894. By the holders of the 14,000,000/. of notes that were issued upon securities?--Yes. 5895. Was not the convertibility of the note at that time in very imminent danger?--I think so. 5896. If the Act of 1844 had for its object to preserve the con vertibility of the note, do you think it answered its purpose? think not. Mr. Gurney. Railway speculation not productive of the distress. The oft-exploded, but still authoritatively adduced, fallacy of the recent national distress having had its origin in Railway operations, has been completely demolished by the evidence in the Commons' Committee; the following reply of Mr. Gurney will almost suffice. 1606. Do you attribute much to the effect of the railways?--I cannot in my own experience trace it to railways; my own experience, which is in the floating money of the country, has not led me to perceive much derangement in the circulating medium on account of railways; I have been asked several times, whether I thought it affected the money market while they were in progress; even during their progress, I was under the necessity of giving an answer that I could not tell, but still my reason would say that so far as the commercial capital of the country (I do not mean the mere floating money) has been withdrawn from commercial purposes and trading purposes into railways, it must have had a certain injurious effect upon trade; on the other hand, I should say that it was rather a time of excitement, in fact in t...

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نوشته شده در تاریخ یکشنبه 28 تیر 1394    | توسط: Geoff Cobb    |    |
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