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notes to bearer for very small sums. An Act of Parliament <note>15 Geo: <gap/>.91 17.Geo.3.c.30: <add><unclear>countermeasures</unclear></add> 27 Geo: ch.16 perpetrating <del><gap/> <gap/></del></note><lb/> | notes to bearer for very small sums. An Act of Parliament <note>15 Geo: <gap/>.91 17.Geo.3.c.30: <add><unclear>countermeasures</unclear></add> 27 Geo: ch.16 perpetrating <del><gap/> <gap/></del></note><lb/> | ||
was made to prevent this to limit the amount below which<lb/> | was made to prevent this to limit the amount below which<lb/> | ||
no such note should be issued — <add>viz: 20<hi rend='superscript'>s</hi></add> why? because of the | no such note should be issued — <add>viz: 20<hi rend='superscript'>s</hi></add> why? because of the common<lb/> | ||
facility with which such notes obtained currency<lb/> | |||
wherever were the <del><gap/>,</del> <add>officers</add> and thence the facility given<lb/> | |||
to men of no property to obtain credit, <del>which</del> and to<lb/> | |||
deter those who trusted them. A stronger <unclear><del>presumption</del></unclear> <gap/>v | |||
of <gap/> them thus fail affords of the success<lb/> | |||
which Government notes would <gap/> with were the <gap/><lb/> | |||
to be made can scarcely be conceived. Government refused<lb/> | |||
to trust individuals any longer with <del>much</del> the power in question:<lb/> | |||
and it did wisely. But it trusts the Bank of England in this<lb/> | |||
respect without reserve: and it were <gap/> indeed if it could not<lb/> | |||
<gap/> to trust <hi rend='underline'>itself</hi>. | |||
</p> | </p> | ||
The smaller a sum of a note is, the scrupulous
a man is will be about taking it, and the less disposed he will be to look out
for interest as a consideration for taking it: the more
numerous too the hands individuals capably of giving value for it
the better the chance it will have for being with an easy circulation
The smaller these Exchequer Notes were made the better
therefore their chance for circulation, especially in the remote
parts of the country from whence, when once got thither
they would not be so apt to return to the metropoles for
payment. The lowest Bank notes were till lately for £10:
now within this year or two they have been issued for so little as £5
The Banks, I make no doubt, find their account must comply in the
innovation. Were the Exchequer Notes to be some of them
so low as for £2—10s and £1—5s they would by that smallness be incapable
of circulation in many a case and <add>in many a hand</add> sums and among hands to which
Bank notes were Bank notes can not at present find
their way.
Not long About 20 years ago the country was deluged with private
notes to bearer for very small sums. An Act of Parliament 15 Geo: .91 17.Geo.3.c.30: countermeasures 27 Geo: ch.16 perpetrating
was made to prevent this to limit the amount below which
no such note should be issued — viz: 20s why? because of the common
facility with which such notes obtained currency
wherever were the , officers and thence the facility given
to men of no property to obtain credit, which and to
deter those who trusted them. A stronger presumption v
of them thus fail affords of the success
which Government notes would with were the
to be made can scarcely be conceived. Government refused
to trust individuals any longer with much the power in question:
and it did wisely. But it trusts the Bank of England in this
respect without reserve: and it were indeed if it could not
to trust itself.
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Identifier: | JB/002/369/001"JB/" can not be assigned to a declared number type with value 2. |
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002 |
annuity notes |
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369 |
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001 |
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text sheet |
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recto |
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jeremy bentham |
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1108 |
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