![]() |
![]() |
Free Books / Finance / The Elements Of Banking / | ![]() |
|
![]() |
||||
![]() |
![]() |
|||
![]() |
![]() |
|||
![]() |
||||
|
|
||||
![]() |
![]() |
|||
![]() |
Payments |
![]() |
||
![]() |
||||
![]() |
![]() |
![]() |
||
![]() |
||||
This section is from the book "The Elements Of Banking", by Henry Dunning Macleod. Also available from Amazon: The elements of banking.
|
By Bills of Exchange payable after date • |
302,674 |
|
|
By Cheques on London Bankers ............. |
663,672 |
|
|
966,346 |
||
|
By Bank of England Notes .. |
22,743 |
|
|
By Gold ... |
9,427 |
|
|
By Silver and Copper ... |
1,484 |
|
|
33,654 |
||
|
£1,000,000 |
||
Here we have it shewn that in this great house which there is no reason to suppose we may not consider a fair representative of commerce in general, gold and silver only entered into the receipts to the extent of 3 per cent, and Bank of England Notes to the amount of about 7 per cent.; the remaining 90 per cent, being entirely in Credit. Of the payments, gold and silver were only 1 per cent, and bank notes 2 per cent.: the remaining 97 per cent, being effected by mere Credit. In Scotland specie enters even in a far less degree into payments. This may give some idea of the stupendous power of Credit in this country.
 
Continue to:
chestofbooks.com, books, online, free, old, antique, new, read, browse, download
![]() |
|
|