The Theory and Practice of Banking, Volumen2

Henry Dunning Macleod

Longmans, Green, 1893

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CHAPTER X	1

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

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 Bank of Scotland increases its Capital	216

The Scotch Banks suspend payments in cash in 1797	217

The Commercial Bank founded in 1810	218

13 Committees of Parliament on Scotch Banks	219

Scotch Banking Act of 1845	220

Failure of the Western Bank in 1857	227

Details of this failure	233

The circumstances of this failure prove the solidity of the Scotch Banking system	234

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

Discussion of the points of difference	31

49 Evidence of Mr Chambers	32

48 The circulation of Scotch 1 notes in England forbidden	48

91	54

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

Letter of Lord King	56

Opposed by Lord Grenville	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

Ministerial resolutions	81

Speeches of Lord Lauderdale and Lord King	83

Letter of Lord King	94

CHAPTER XI	96

Remarks upon overtrading of 1809 reserved	100

Which is an example of the truth of the principles of	106

General revival of prosperity in 1823	110

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

Great change in the opinions of the mercantile world regard	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

Opinion of Mr Samuel Thornton late Director of the Bank 72	118

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

Resolution of the Bank of England in opposition to	124

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

CHAPTER XII	150

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

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

Committee of Inquiry into the commercial distress 30th	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	193

Great Bank failures	195

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

Speeches of Lord Lauderdale and Lord King	198

Rivalry to the Bank	199

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

On the Right of the Scotch Banks to open Branches in England	237

Stoppage of the City of Glasgow Bank	241

FROM	243

Peculiarity of Laws system	244

It is a violation of the fundamental conception of a Currency established in this work	245

Some account of Laws Theory of Money	246

The same continued	247

The same continued	248

The same continued	249

The same continued	250

The essence of Lawism is that money represents commodities and that paper currency may be based upon commodities Money does not represent Co...	251

The Theory of basing a paper currency upon commodities involves the palpable contradiction in terms that a person may buy commodities and keep...	252

Laws idea	253

The most celebrated examples of Lawism	254

Accounts of the French Assignats	255

The same continued	256

The same continued	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

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

Still in spirit the Common Law of England	291

All Negotiable Instruments are Currency	304

Writers who include Bank Credits as Currency	312

Discussion between Mr Hume and Lord Overstone	320

Speech of Sir Robert Peel	323

Legal and philosophical errors of these opinions	326

Opinion of M Michel Chevalier	333

ON THE ORGANISATION OF THE BANK OF ENGLAND	334

The Expansive Theory saves the Bank and the country	356

An excessive restriction of Credit produces and causes a	363

become necessary	378

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	411

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	428

Advances to Companies	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

Factors Acts limited to mercantile transactions	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

The same continued	540

7	613

9

The C

VOL II

Otras ediciones - Ver todas

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

The Theory and Practice of Banking, Volumen2
Henry Dunning Macleod
Vista completa - 1919

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

Términos y frases comunes

acceptor advances amount assignats Bank Notes Bank of England Bank of Ireland Bank paper banker bearer on demand Bill of Lading bill or note bills of exchange Bullion Committee Bullion Report capital cash payments caused cent cheque circulating medium coin commercial Commons consequence contract country banks creditor crisis Crown 8vo debt deposit depreciated currency depreciation directors dishonour drawer effect excessive issues Exchequer bills export favour Foreign Exchanges France Government guineas holder House increase indorsement issue notes joint stock banks liabilities London Lord Lord Overstone Market Price merchants Metallic Currency negotiable notice opinion paid panic Paper Currency Parliament party payable to bearer person present price of bullion price of gold principle promissory notes quantity rate of discount reduced resolutions restriction Scotch banks Scotland securities shew silver Sir Robert Peel specie speculation standard theory transfer Vict vols wheat

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Página 570 - Where in a bill drawer and drawee are the same person, or where the drawee is a fictitious person, or a person not having capacity to contract, the holder may treat the instrument, at his option, either as a bill of exchange or a promissory note.

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Página 542 - Partial, that is to say, an acceptance to pay part only of the amount for which the bill is drawn ; 3.

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Página 536 - In the hands of any holder other than a holder in due course, a negotiable instrument is subject to the same defenses as if it were non-negotiable. But a holder who derives his title through a holder in due course, and who is not himself a party to any fraud or illegality affecting the instrument, has all the rights of such former holder in respect of all parties prior to the latter.

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Página 520 - Where a banker in good faith and without negligence receives payment for a customer of a cheque crossed generally or specially to himself, and the customer has no title, or a defective title, thereto, the banker shall not incur any liability to the true owner of the cheque by reason only of having received such payment.

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Página 580 - Where a bill has been paid for honor, all parties subsequent to the party for whose honor it is paid are discharged, but the payer for honor is subrogated for, and succeeds to, both the rights and duties of the holder as regards the party for whose honor he pays and all parties liable to the latter.

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Página 538 - Where a bill is addressed to two or more drawees who are not partners, presentment must be made to them all...

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Información bibliográfica

Título	The Theory and Practice of Banking, Volumen2 The Theory and Practice of Banking, Henry Dunning Macleod
Autor	Henry Dunning Macleod
Edición	5
Editor	Longmans, Green, 1893

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