The digital edition of all books may be viewed on our website before purchase. Excerpt from A Defence of the Joint-Stock Banks: An Examination of the Causes of the Present Monetary Difficulties and Hints for the Future Management of the Circulation (Classic Reprint)
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Vendeur : Forgotten Books, London, Royaume-Uni
Paperback. Etat : New. Print on Demand. This book delves into the heated debate regarding which banking system is most responsible for the economic challenges of the 1830s in Great Britain: the Bank of England or Joint-Stock Banks? The author begins by asserting that both parties are at least partially culpable. He points to the fact that although the Bank of England has been accused of mismanagement and overissue, the Joint-Stock Banks' share of the total currency circulation had only increased by 2 million pounds over three years' timeâ"a relatively small sum when compared to the Bank of England's concurrent 6 million pound loss in gold reserves. Nevertheless, the author does not exonerate the Joint-Stock Banks entirely. He concedes that some of their number have engaged in unsound lending practices and contributed to the overall loosening of credit that preceded the crisis. The author also takes aim at the government, arguing that its decision to assist with the financing of the West-India Loan without properly considering the state of the economy was a serious misstep. The sudden influx of money into circulation, he argues, gave an artificial stimulus to the economy and further exacerbated the speculative excesses of the time. Ultimately, the author concludes that the debate over which banking system bears the greater responsibility for the economic turmoil of the 1830s is largely beside the point. Both institutions made serious errors, and both contributed to the problems that ensued. The real lesson to be learned, he insists, is that a sound and stable financial system requires careful management and prudent regulation of all its component parts. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. N° de réf. du vendeur 9781330665671_0
Quantité disponible : Plus de 20 disponibles
Vendeur : PBShop.store US, Wood Dale, IL, Etats-Unis
PAP. Etat : New. New Book. Shipped from UK. Established seller since 2000. N° de réf. du vendeur LW-9781330665671
Quantité disponible : 15 disponible(s)
Vendeur : PBShop.store UK, Fairford, GLOS, Royaume-Uni
PAP. Etat : New. New Book. Shipped from UK. Established seller since 2000. N° de réf. du vendeur LW-9781330665671
Quantité disponible : 15 disponible(s)
Vendeur : Buchpark, Trebbin, Allemagne
Etat : Sehr gut. Zustand: Sehr gut | Sprache: Englisch | Produktart: Bücher | Keine Beschreibung verfügbar. N° de réf. du vendeur 25931533/2
Quantité disponible : 1 disponible(s)