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6 Nov. 1800
Paper Mischief
In proportion to the extent speaking of association
I have hitherto confined myself to that alone those associations
which in a trade of that nature may
naturally be supposed to take place between
individual Banking Houses and their respective certain
particular individuals or trusts among their
respective customers. But another species or
degree of associate the trade lies open to
which places the mischief from that source in a still more
extensive point of view – I mean he associations
of those partnerships among one another houses one with another.
The associations now in view are not
the associations as between tens of thousands and
tens of thousands – but associations as between millions
and millions.
I speak not now of tendencies and probabilities.
I speak of established and undisputed
facts. One In one immense vast and
almost universal association by far the greatest
part of those 2, 3, or 400 houses – of those
10, or 18, or 20, or 25 millions are already
and have been so for some years. The
In March and April 1797 the gentleman
who manages their affairs declares as much
to the Committee of the House of Lords.†
In a less accumulated and subordinate subordinate and less conglomerated but
perhaps not much less extensive system of association
they are known to coalesce in masses for the extent
and
Identifier: | JB/003/128/001 "JB/" can not be assigned to a declared number type with value 3.
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manual of political economy |
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paper mischief |
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jeremy bentham |
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