JB/002/252/001

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+ Note Note 161

Abstract

Note (a) to p. 160.

Ch. XII Commercial Security

6(a)
Remedies by
which the want
of a circulating
medium in 1797
was removed.

(a)

1. On the part of the Bank, the extension given
to the quantity of this paper — not in notes of the
their usual magnitude, but in notes of the the reduced
magnitude — the £2 and £1 notes: whereby the
market was enlarged to a prodigious such an extent,
as, if given to it at an earlier period, might have prevented would probably
the exigency. seems likely likely to have prevented the exigenc
seems adequate to the prevention of the exigency
would it seems probable have prevented the exigency.

2. On the part of Government, the person suspending
of to a certain degree the action of the restrictive laws by which individuals
had been restricted prohibited prevented from issuing notes of a below a certain magnitude.
In

3. On the part of the commercial Body, by
their agreement to accept of Bank paper of
England paper, without demanding cash for it.

4. To the force of these factitious remedies, was
added that of the natural remedy, the return restoration
of the hoarded money of both kinds into the
circulation, upon the cessation of the alarm.

[+] As to no man can keep any unnecessary quantity of money by him for any
The result appears to have been — not only
length of time but to a loss, would not this natural
a restitution of the amount of the defalcation
remedy, have been together with the preceding one have
but a positive addition to the mass of material
been sufficient?
[+] [+] wealth: reduced however in some a considerable degree as to its
real amount, and in respect of its real utility,
(as will be the case, in the case of addit by conservative addition to the rise of prices.
(as, in regard to additions to the mass of capital,
by additions to the mass of circulating capital,
will ever be the case,) by a concomitant addition
to the rise of prices.

[+] Whether That the exigency
of the case would
have admitted of
the waiting for the
operation of these
two last mentioned
remedies, is more
than I will undertake
to say. But
that, if it would,
the application of
the two first might
have been omitted
with great advantage
on other another
score, will is an
opinion that will I I imagine be
acceded to by whoever
recognizes
the mischief pointed
out as flowing from
every augmentation
addition to the quantity
of money, metallic or
paper, in Ch. XIV on the Rise of Prices.

Correct
this

End of Note (a).

Identifier: | JB/002/252/001 "JB/" can not be assigned to a declared number type with value 2.
Date_1		Marginal Summary Numbering	6a
Box	002	Main Headings	annuity notes
Folio number	252	Info in main headings field	note
Image	001	Titles	note (a) to p. 160
Category	text sheet	Number of Pages	1
Recto/Verso	recto	Page Numbering	f161
Penner	jeremy bentham	Watermarks	<…>m 1798
Marginals	jeremy bentham	Paper Producer	frances wright
Corrections	jeremy bentham	Paper Produced in Year	1798
Notes public		ID Number	991
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