books



previous page: Elementary Banking | O. Howard Wolfe
  
page up: Banking Books
  
next page: Banks And Banking | by H. T. Easton

Banks And Bankers | by Daniel Hardcastle, Jun



The object of the following pages is to explain, in a plain and familiar manner, what money, Banking, and currency, properly speaking, are; and how it behoves us to deal with them at present in this country. I conceive that this object may be realized in a manner the most satisfactory, and that the information conveyed will be rendered valuable to the greatest number of persons, by giving an intelligible account, clear of all technical expressions, of the doctrines of the leading authorities upon the subject, the different systems propounded, and the results of the efforts that have been made to carry them into execution.

TitleBanks And Bankers
AuthorDaniel Hardcastle, Jun
PublisherWhittaker And Co
Year1842
Copyright1842, Whittaker And Co
AmazonBanks and bankers

To George Carr Glyn, Esq. The Following Pages Are Respectfully Dedicated, By His Obedient Servant, The Author.

-Preface
The object of the following pages is to explain, in a plain and familiar manner, what money, Banking, and currency, properly speaking, are; and how it behoves us to deal with them at present in this c...
-Chapter I. Banking, Every Man's Affair
Result of the pains taken by Parliament to enlighten the Public on the subject - The authorities differed in opinion before, and they differ still - Secret Committees - description of - Give no accoun...
-Banking, Every Man's Affair. Part 2
To my mind, a principal cause why these reiterated examinations and various researches have been so barren of result, is to be found in the way they have been conducted. They have been invariably the ...
-Banking, Every Man's Affair. Part 3
Old Mr. Lefevre, the father of the present Speaker of the House of Commons, and the principal founder of Curries and Co.'s house on Cornhill, illustrated this theory of Banking one day to a customer i...
-Chapter II. Bankers Of The Old School And The New
Old Mr. Fuller and the pint of porter - Messrs. Denison, father and son - Spirit and wealth displayed by the latter in the case of the Bank of Manchester - Messrs. Jones Lloyd, father and son - Barcla...
-Bankers Of The Old School And The New. Part 2
Indeed, Sir,11 interrupted the old gentleman, with quick anxiety; pray what has happened? - we are the same as ever. Pardon me, Mr. Fuller; I have noticed for many a year, that on a certain day i...
-Bankers Of The Old School And The New. Part 3
5 Mr. Lewis Loyd, according to his own account to the Lords' committee in 1819, began business in 1792, at Manchester, where having spent a year, he removed to London, and has since re-mained, with a ...
-Bankers Of The Old School And The New. Part 4
Apropos of Coutts and the Duchess of St. Al-ban's, who has just been mentioned, it should be added that a short time ago two of the richest Bankers in London were Peeresses; the Duchess, namely, and t...
-Chapter III. The Circulating Medium
Money originally metallic - Always a commodity in itself - True functions of Money - Banking and Currency - Adam Smith's doctrine - Its merits, and the departure from the state of things upon which it...
-The Circulating Medium. Part 2
If additional proof be required to show that the view just taken of money is the right one, it will be found in the fact, that whenever kings or governments have attempted to give a false value to the...
-The Circulating Medium. Part 3
An unsuccessful war, for example, in which the enemy got possession of the capital, and consequently of that treasure which supported the credit of the paper money, would occasion a much greater conf...
-The Circulating Medium. Part 4
Though paper money should be pretty much confined to the circulation between dealers and dealers, yet Banks and Bankers might still be able to give nearly the same assistance to the industry and comm...
-Chapter IV. Choppings And Changes In The Currency
Innovations upon Adam Smith's system - The Bullion Committee and its opinions - Mr. Ricardo's principles and publications - Preliminaries for a resumption of cash payments - Gold bars substituted for ...
-Choppings And Changes In The Currency. Part 2
This, as a principle of Banking, the Bullion Committee pronounced unsound, and totally repudiated. There were reasons adduced in support of the decision, no doubt - there is a reason to be given for e...
-Choppings And Changes In The Currency. Part 3
A third doctrine sanctioned by the authority of the Bullion Committee was new and correct; namely, that the issues of the country Bankers are regulated by those of the Bank of England. The theory itse...
-Choppings And Changes In The Currency. Part 4
3 The High Price of Bullion, a Proof of the Depreciation of Bank notes, As much of the progress, such as it happens to be, which we have made during this long period is due to the writings and spee...
-Choppings And Changes In The Currency. Part 5
4 The price of 31. 17s. here mentioned, is, of course, an arbitrary price. It might be fixed either a little higher or a little lower. In naming 31. 17s. I wish only to elucidate the principle. Th...
-Choppings And Changes In The Currency. Part 6
We have, evidently, not yet done with experiments in the currency; we have undergone some heavy treatment, and withstood not a few violent shocks in that respect; but not having materially improved ou...
-Choppings And Changes In The Currency. Part 7
Strong, without rage - without o'erflowing, full ! All was to be free, sound, secure, safe, and prosperous; no doubt was hinted, no dispute raised, as to the result: but what after all came to pass...
-Chapter V. The Bank Of England
The Bank of England - its origin, privileges, and profits - Mismanagement of the currency, and consequent distresses entailed upon the country - Series of panics from 1783 to 1814 - Great rise of circ...
-The Bank Of England. Part 2
In speaking of the currency it is impossible to doubt that its regulation under any system, however good, must be a delicate operation, demanding considerable knowledge, acute judgment, and sound expe...
-The Bank Of England. Part 3
In 1792 another panic spread through the country. By-the-by, there seems to be a tendency in the visitations of these panics to return in ten years. Here we have the decennial interval 1782 and 1792 s...
-The Bank Of England. Part 4
When the Government found its account in making the Bank a passive political machine, it was to be expected, in the natural course of things, that some corresponding advantages would accrue to that in...
-The Bank Of England. Part 5
All bank-notes, let them be issued where or by whom they may, in England or in Russia, by the United States' Bank that used to be at Philadelphia, or the Bank of Vienna, are nothing but promises to pa...
-The Bank Of England. Part 6
The injuries produced by these fluctuations were deep, complicated, and irreparable. From the year 1810, when the great rise of prices, occasioned by the increased issues of the Bank, set in, to 1815,...
-The Bank Of England. Part 7
In the House of Commons, Mr. Alderman Thompson, member for London, and a merchant of eminence, whose opinions upon the state of commercial matters were fairly regarded as of good authority, bore ample...
-The Bank Of England. Part 8
Political events were not without their influence in producing this mania. Trade and agriculture had begun to revive in 1823 from the depression they had suffered under during the two preceding years....
-The Bank Of England. Part 9
Let us, however, proceed according to the course of events. We have first to indicate the principles laid down by the Bank Charter Committee of 1832, and offer a few words explanatory of the panics th...
-The Bank Of England. Part 10
The honourable member for Portarlington (Mr. Ricardo), in referring to this table on another occasion, I think told us that Mr. Tooke was able to point out several circumstances which tended to lower...
-The Bank Of England. Part 11
3dly, Taxation is more or less oppressive in proportion to the quantity of money in circulation; a reduction of taxation has not much effect upon industry. For fifteen years antecedent to 1832 the fis...
-The Bank Of England. Part 12
The committee of 1832 led to a renewal of the Bank Charter for an additional term of ten years, and a re-enactment of the legal tender clause, a privilege ceded by Lord Althorpe with the view of aidin...
-The Bank Of England. Part 13
The exchanges, moreover, were not in our favour at this period; another standard rule was thus violated by the Bank. In March, 1834, the 10,200,000l. of gold was reduced to 8,753,000l., therefore a pr...
-The Bank Of England. Part 14
I might here, but I shall not attempt to, paint in the heavy colours appropriate to such a subject, the different shades of gloom by which the successive stages of these three years of misfortune were...
-Chapter VI. Mr. Samuel Jones Loyd's Principles And Pamphlets On The Currency
Mr. Samuel Jones Loyd's principles and pamphlets on the currency - Corrects the mistaken views of Messrs. Harman and Dorrien, by those of Messrs. Ward and Horsley Palmer - Character of the latter - Hi...
-Principles And Pamphlets On The Currency. Part 2
Mr. Loyd sets out by showing, with the greatest propriety, that there was a period - one so recent as the year 1819, - at which the directors of the Bank of England, did not profess to be aware of, or...
-Principles And Pamphlets On The Currency. Part 3
In what manner? - It will be, if I may use the phrase, hawked about at a lower rate of interest than is usual. Do you think that the foreign exchanges are affected by any considerable increase or d...
-Principles And Pamphlets On The Currency. Part 4
By the circulation of the country, do you mean the whole circulation of the country, and not the country circulation? - The whole circulation of the country. When you say that, as a general princi...
-Principles And Pamphlets On The Currency. Part 5
These were the official facts Mr. Palmer had to rebut, and he met them as follows:The liabilities and assets of the Bank in October, 1833, upon an average of the three preceding months, were, ...
-Principles And Pamphlets On The Currency. Part 6
2. That the circulation continued steadily to increase from January, 1836,up to May; and that even in September it was at the same amount at which it stood in May, although the drain of bullion was, ...
-Principles And Pamphlets On The Currency. Part 7
I quote the following passages with pleasure; they are strong in truthful merit and energetic eloquence. Fluctuations in the amount of the currency are seldom, if ever, the original and exciting ca...
-Principles And Pamphlets On The Currency. Part 8
As applicable to this point, we cannot forbear from quoting an observation which occurs in the evidence of Mr. Ward, and which puts the true principle of a paper-currency with peculiar clearness and ...
-Principles And Pamphlets On The Currency. Part 9
'These are evidently the answers of intelligent persons, convinced by general reasoning, and confirmed in this conviction by the results of their experience, that the contraction of issues made upon ...
-Principles And Pamphlets On The Currency. Part 10
In taking this view, we break new ground; and that we may see as clearly as may be how we stand upon it, let us ascertain what the foreign exchanges are. Foreign exchange consists in a merchant or ot...
-Principles And Pamphlets On The Currency. Part 11
These are causes with which every writer and reader upon the currency is familiarly acquainted. Of the effects of one and all of them, I need not observe here, that we have had severe experience of la...
-Principles And Pamphlets On The Currency. Part 12
Such, then, and so numerous, being the obstacles, some independent of the Bank, and some, as I have just shown, growing out of her very nature and constitution, which have hitherto prevented, and alwa...
-Chapter VII. Recent Progress Of Joint
Recent progress of joint-stock and private Banks - The former encouraged by Government in consequence of numerous failures amongst the latter - The Government measure, 7 Geo. IV. c. 46 - Dissatisfacti...
-Recent Progress Of Joint. Part 2
Such are the principal conditions of the joint-stock Banking law, which has now been sixteen years in force without undergoing material change. As I proceed I shall have to enter upon an examination o...
-Recent Progress Of Joint. Part 3
Making all due deductions, however, it is not to be denied that the spread of joint-stock Banks in 1836, and the liberal dividends some of them distributed to their shareholders, - dividends as high a...
-Recent Progress Of Joint. Part 4
The affairs of the private Banks were not adjusted with equal dispatch or satisfaction. At the time of Esdaile's stoppage, 150,000l. was raised by the City Bankers, and placed with the Bank of England...
-Recent Progress Of Joint. Part 5
How strange, then, and provoking to think, that during the years these bankruptcies were taking place, Committees upon Banking were sitting in the House of Commons, mooting all sorts of opinions, but ...
-Recent Progress Of Joint. Part 6
The stoppage of the Marylebone Bank is easily accounted for, by the proof of negligence and misconduct on the part of the directors and manager. According to the statement made at a public meeting of ...
-Recent Progress Of Joint. Part 7
The Isle of Wight Bank of Kirkpatrick and Co., is said to present, upon a smaller scale, nearly similar characteristics. It appeared when the creditors met in February last, that the estimated liabili...
-Recent Progress Of Joint. Part 8
The elder Wakefield was then examined as to his transaction with a lady named Potter, which commenced in 1833. She had deposited with him 2500l. in consols, which he sold out by her directions, and in...
-Recent Progress Of Joint. Part 9
The younger bankrupt said he entered as a partner into the concern in 1818. He was dependent on his father, and all he knew was, that a credit of from 2000l. to 3000l. at that time stood to his father...
-Recent Progress Of Joint. Part 10
Sums were also placed to the names of Mrs. Pelham, Lady Aboyne, W. R. and H. Fauntleroy, and Elizabeth Fauntleroy; and the learned gentleman observed, that all the sums were added together, and the s...
-Recent Progress Of Joint. Part 11
Another objection is, that from time to time the directors of joint-stock Banks are found to become bankrupts, and being heavily indebted to the Bank, the proprietors lose money by the very men select...
-Recent Progress Of Joint. Part 12
When Lord Althorp brought forward his measures for renewing the Bank of England Charter in 1832, he also proposed to introduce others for a better regulation of country and joint-stock Banks. They wer...
-Recent Progress Of Joint. Part 13
It is no commendation of these suggestions to say, that they are decidedly superior to the Government propositions by which they were followed: they are not, however, what they ought to have been. I o...
-Recent Progress Of Joint. Part 14
A specific enumeration of the practical difficulties encountered by joint-stock Banks in the ordinary course of business, was made in a letter addressed to Lord Melbourne, January 30th, 1839, and sign...
-Recent Progress Of Joint. Part 15
7 This might be done by declaring the company bankrupt, but not each member or shareholder separately; in which case the latter might be treated as debtors to the joint-stock, and a distribution of th...
-Recent Progress Of Joint. Part 16
The statement and balance sheet adopted at the eighth annual meeting, held March 2, 1841, showed: that, after defraying all the current expenses, and after making ample allowance for all bad and doub...
-Chapter VIII. Banking Free In Scotland, Not So In America
Banking free in Scotland, not so in America - Failures rare amongst Scotch Banks, and profits considerable - Their superiority over English Banks - Their number - Their small circulation - Statistics ...
-Banking Free In Scotland, Not So In America. Part 2
The names of the different Banks, and the places at which their head offices are situated are as follow: Edinburgh - Bank of Scotland. - Royal Bank of Scotland. - British Linen Company. - Commer...
-Banking Free In Scotland, Not So In America. Part 3
The expense of a bond for a cash credit of 5001. is 4l. stamp-duty, and a charge of 10s. 6d. per cent. for filling it up. The Scotch Bankers' clearances are upon the plan of the clearing-house in L...
-Banking Free In Scotland, Not So In America. Part 4
The agents at these branches are sworn officers, who give security, and to make them guarded in their advances, are bound for a certain proportion of the losses that may arise by discounts. They furni...
-Chapter IX. Banking In Ireland
Banking in Ireland - Its mischief and oppression - Divided into three periods - History of each - Banking before the establish-ment of the Bank of Ireland - Thence to the introduction of joint-stock B...
-Banking In Ireland. Part 2
The session of 1722, however, did not close without an Act for securing the public from some of the injuries produced by the defective Banking business of the period. The 8th Geo. I. c. 14, provided t...
-Banking In Ireland. Part 3
5 One Bank had started in 1758, and failed during the same year, after a butterfly existence of four months. And yet this was a Bank of great names, for its partners were the Right Hon. Anthony Malone...
-Banking In Ireland. Part 4
It appears by the Commons' report of 1804 on the circulating paper of Ireland, that before the Bank of Ireland entered upon its unrestrained trade in paper money, in March, 17977, the exchange was, an...
-Banking In Ireland. Part 5
Previously to the year 1783, the standard grievances with all Irish writers on political economy, were two in number, that there were none but private Bankers in Ireland, who issued notes without rest...
-Banking In Ireland. Part 6
When, to this intolerable load of misfortune, we have added the character of the successive bankruptcies that make it so lamentable, and have shown that the sums for which they took place were general...
-Banking In Ireland. Part 7
At the half yearly meeting of the proprietors, Dec. 6, 1841, the statement of the property of the Bank set forth, was as follows: . s. d. Assets ...... 423,063 ...
-Banking In Ireland. Part 8
They were obliged to stop a second time in 1841, and are now understood to be winding up their affairs in the midst of not a little law, originating in outstanding debts to the amount of about 70,000l...
-Chapter X. Gold And Silver Together The Proper Standard
Gold and silver together the proper standard - Recommended by Locke, Adam Smith, and Ricardo - One Bank of issue a capital mistake - Gold considered as dead stock - New legal tender proposed - Its adv...
-Gold And Silver Together The Proper Standard. Part 2
I take two things for granted: first, that we cannot go on with the Bank of England constituted as it now is; and secondly, that the substitute of one Bank of issue, which has been proposed as a speci...
-Gold And Silver Together The Proper Standard. Part 3
When Adam Smith remarked that gold in a Bank is so much dead stock, he could have had no idea of the extent to which modern invention has pushed the policy of economising its use. The theory and pract...
-Gold And Silver Together The Proper Standard. Part 4
Under these circumstances we should seriously occupy ourselves, not in passing laws to make gold scarce, but to create a better market for it than now exists. We should not refuse to accept silver as ...
-Books
Gilbert & Rivington, Printers, St. John's Square, London. Also Published, By Wh1ttaker And Co., Ave Maria Lane. A New Edition Of Shakespeare's Works, (comprising the plays and poems.) the text form...









TOP
previous page: Elementary Banking | O. Howard Wolfe
  
page up: Banking Books
  
next page: Banks And Banking | by H. T. Easton