The Theory and Practice of Banking, Volumen2

Henry Dunning Macleod

Longmans, Green and Company, 1919

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CHAPTER X	1

Continuation of Sir Robert Peels speech	3

Definition of Parties to an Instrument of Credit	4

Extract from Sir Charles Woods speech	9

First investigation into the theory of the paper currency	10

18 Their description of the extraordinary debasement of the Irish Currency	11

Exchange with Belfast favourable to Ireland while that with Dublin adverse	13

Difference of 12 per cent between Exchange with Dublin and with Belfast	14

Appointment of the Committee on banks of issue in 1840	145

Lord Overstone points out the fundamental vice of the bank principle of 1832	147

Unsatisfactory character of the inquiry	148

State of the country from 1838 to 1844	149

Monetary pressure in April 1847	167

35 Mr Loyds opinion	179

Mr Glyns opinion	180

Comparative view of the bullion and the rate of discount of the Bank of England during 1855	182

Opinion of Mr Marshall that Irish Bank notes were depre ciated	15

His evidence on the subject	16

The Theory of the Directors of the Bank of Ireland as to the regulation of the paper currency	17

Report of the Committee	18

The Committee report that the Directors should regulate their issues by the price of guineas and the foreign Ex changes	19

The Committee do not discuss the new theory of paper currency	20

First declaration by a Parliamentary Committee that the paper currency should be regulated by the Foreign Ex changes	21

Renewal of the Banks loan to Government	22

Perfidious conduct of Prussia in 1805	23

The Berlin decree against British commerce in 1807	24

Immense speculation in 1808 and subsequent years	25

Great rise in the market price of gold	26

Names of the Committee	27

Remarks upon some of the evidence	28

State of facts agreed upon	29

Issues maintained by the other party	30

49 Evidence of Mr Chambers	32

Remark of Mr Huskisson	34

Another illustration	35

Discussion on second point of difference between the two parties	36

Opinion of a foreign merchant	37

Discussion of the third point of difference between the parties	38

Discussion of the fourth point of difference reserved	39

The same continued	40

The same continued	41

The same continued	42

The same continued	43

The same continued	44

The same continued	45

The same continued	46

The same continued	47

Resolutions of Mr Horner	48

Mr Roses reply to Mr Horner	49

Mr Vansittarts resolutions	50

Historical untruth of the doctrine that the coinage never was intended to contain any fixed quantity of bullion	52

Examples of this given by Mr Sharp	53

Rejection of the Bullion ReportMr Peel votes with the majority	54

Mr Canning tries to persuade Mr Vansittart to abstain from pressing his resolution	55

Letter of Lord King	56

Lord Stanhopes Act in 1811	57

Observations of Lord Stanhope	58

Alleged injustice of making the Bank buy gold at the market price	59

Great speculations and increase of country banks in 1813	60

Great destruction of country bank paper in 1816 rise in the foreign exchanges and fall in the market price of gold	61

Which is an example of the truth of the principles of the Bullion Report	62

Partial resumption of cash payments in 1816	63

Great drain of bullion in 181819appointment of Com mittee by both Houses of Parliament to enquire into the expediency of resuming cash payments	64

Great change in the opinions of the mercantile world regard ing the principles of the Bullion Report	65

Opinion of Mr Pole DeputyGovernor of the Bank	66

Opinion of Mr Haldimand Director of the Bank	67

Opinion of Mr Ward Director of the Bank	71

Opinion of Mr Samuel Thornton late Director of the Bank	72

Opinion of Mr Thomas Tooke	74

Opinion of Mr Ricardo	75

Opinion of Mr Baring	77

Opinion of Mr John Ward	79

Reports of the Committees to both Houses	80

Discussion of the points of difference	81

129 Speech of Lord Grenville	83

Speeches of Lord Lauderdale and Lord King	88

Table shewing the chief variations in the marketprice	95

the Act of 1819	106

during the whole of the restriction from 1797 to 1819	109

General revival of prosperity in 1823	110

Origin of the disaster in 1825 began at the close of 1824	111

Description of the speculative mania of 1825	112

Fatal conduct of the Bank of England at this period	113

Rapid efflux of Bullion from the Bank of England in 1824	114

Banking panic in the autumn and winter of 1825	115

General run upon the London and country bankers	116

The great pressure in the moneymarket turns the exchanges in favour of England	117

Issue of 1 notes by the Bank which stays the panic in the country	118

CHAPTER XVII	119

The speculative mania not attributable to the Bank or to the country banks	120

The bold policy of the Bank saved it from bankruptcy	121

Abolition of 1 and 2 bank notes	122

Mr Barings condemnation of the small notes	123

Opinion of Sir John Newport	125

Speech of Sir Robert Peel	126

Provisions of the Act suppressing small notes in England	127

Intention of the Government to suppress the small notes in Scotland abandoned in consequence of the recommenda tion of Committees of both Hous...	128

Reform Bill	129

Committee of the Commons on the Bank Charter	130

Mr Horsley Palmers description of the method adopted by the Bank to carry out the principles of the Bullion Report	131

First appearance of the heresy that bills of exchange form no part of the circulating medium	132

Definition of the Banks exclusive privilege of banking	133

The Banks privilege held not to exclude the formation of Joint Stock Banks of deposit	134

Provisions of the Act renewing the Bank Charter in 1833	135

Depression of the price of wheat in 18343536	136

Position of the Bank in 18333435	138

Decline of bullion in the Bank in 1836	139

Difficulties of the Agricultural and Commercial Bank in Ireland	140

Position of the Bank in March 1838	142

The Bank sends a million of sovereigns to America	143

The bank rate of discount much below the market rate	144

Judicious conduct of the Bank during this drain	183

Pressure in 1856	184

Improved management of the Bank	185

Commencement of the crisis of 1857	186

Increase of the panic	187

Evidence of the Governor	188

Notes issued in excess of the Act	190

Pressure in 1863 and 1864	191

Bank of England joins the Clearing House	192

Third Suspension of the Bank Charter Act	195

Remarkable difference between the rates of discount of the Banks of England and France	196

CHAPTER XIII	198

The Bank issues 1 notes	200

Proposals to the Bank	201

Foundation of the Royal Bank in 1727	202

The optional clauses in the Bank Notes	205

Fall in the Scotch Exchanges	206

Act to forbid the optional clauses	208

Extract from Adam Smith	209

The Ayr Bank	213

The Bank of Scotland increases its Capital	216

Great Commercial Crisis in 1793	217

The Commercial Bank founded in 1810	218

CHAPTER XIV	243

Accounts of the French Assignats	257

The same continued	258

His extraordinary inconsistency	260

The same continued	262

Practical results of Laws Theory	263

Fifth exampleThe American banking convulsions of 183739	264

The principle of basing a paper currency on the public funds is identical with and is as vicious as basing it on land	266

Fundamental vice of the constitution of the Bank of England	267

The consequences of this vicious principle are prevented by its being limited to that single instance	268

This refutation incomplete	271

The same continued	273

Specific meaning of overissue	274

Fallacy of the expression good bills	275

Bullion is only the regulator of its amount	276

Specie and credit must always increase and decrease to gether	277

The rate of discount is the true mode of acting upon the paper currency	278

Effects of the action of this principle	279

In all commercial crises production should be curbed	280

The same continued	281

Historical proof of the fallacy of this theory	282

60 Consequences of adopting Sir A Alisons plan	283

Meaning of Currency	292

All Negotiable Instruments are Currency	304

Writers who include Bank Credits as Currency	312

Discussion between Mr Hume and Lord Overstone	320

Legal and philosophical errors of these opinions	326

Opinion of M Michel Chevalier	333

Causes of the failure of the	343

When the Foreign Exchanges are adverse the Bank must contract its issues 283	350

The same continued	352

An excessive restriction of Credit produces and causes a	363

VOL IL	369

Regulations of Bank Charter Act 1833	384

Causes of the failure of Joint Stock Banking in England	390

Decay of private Banking	396

CHAPTER XVIII	402

Trading customers	405

Nature of Banking	408

Relation of Banker to customer as Pawnee of banking securities	410

On Short Bills	412

Relation of Banker to customer as Warehouseman of his plate jewels specie deeds securities c	413

Bankers as Agents or Correspondents of other bankers	415

On Banking Investments	419

On discounting Bills of Exchange	420

Advances on loan with security	424

Advances by way of Cash Credits and Overdrawn Accounts	427

Bill brokers	429

On the Clearing System	435

On the Edinburgh Clearing House	437

On the London Clearing House	443

CHAPTER XIX	448

On Goods taken as Security	452

Policies of Life Assurance taken as Securities	453

On Title Deeds taken as Security	455

On Securities by third persons	459

On Dock Warrants and Bills of Lading	462

The Factors Act	463

251	469

Factors Acts Amendment Act 1877	472

On Bills of Lading	474

Bills of Lading Amendment Act 1855	476

CHAPTER XX	478

Definitions and General Principles	480

On the Transfer of a Credit or Debt	481

Order given by a Creditor to a Debtor to pay a third person	496

Capacity and authority of parties	526

a 2	546

252	547

253	557

Measure of Damages of a Dishonoured Bill	579

Conflict of Laws	587

Otras ediciones - Ver todas

The Theory and Practice of Banking, Volumen2
Henry Dunning Macleod
Vista completa - 1893

The Theory and Practice of Banking (1906)
Henry Dunning MacLeod
Sin vista previa disponible - 2008

Términos y frases comunes

amount Bank directors Bank Notes Bank of England Bank of Ireland Bank paper bankers Belfast Bullion Committee Bullion Report cash payments caused cent circulating medium circumstances coinage commercial Commons consequence consider consideration continued contraction convertible country banks course of Exchange demand depreciated depreciated currency depression difference diminution Dublin dwts effect England notes England paper enormous evidence excessive issues exportation favourable Foreign Exchanges France gold bullion gold coin Government grns guineas Hamburg House increase Irish Bank notes issue of Bank issue of paper joint stock banks London Market price measure mercantile merchants Metallic Currency Mint price Napoleon opinion ounce paid Paper Currency Parliament payable period premium price of bullion price of gold principles Prussia quantity rate of discount Rate of Exchange reduced regulated resolutions restore resumption of cash rise risen rose scarcity securities shew silver Sir Robert Peel Smith specie speculation standard unfavourable wheat witnesses

Información bibliográfica

Título	The Theory and Practice of Banking, Volumen2 The Theory and Practice of Banking, Henry Dunning Macleod
Autor	Henry Dunning Macleod
Editor	Longmans, Green and Company, 1919
Procedencia del original	Universidad de Wisconsin - Madison
Digitalizado	8 Jul. 2009

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