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<head>1826. June 20 | <head>1826. June 20<lb/> | ||
Constitutional Code.</head> | |||
< | <note>Ch. <del>IX.</del> <add>XI.</add><!-- Pencil insert -->Ministers severally.<lb/> | ||
§. 13 <!-- Pencil insert -->Finance Minister.</note> | |||
<p> | <p>Money 1. actual <add>real</add> in effect x promissory.</p> | ||
<note>Art. 19. If instead of<lb/> | |||
borrowing money of the<lb/> | borrowing money of the<lb/> | ||
Bank Government had<lb/> | Bank, Government had<lb/> | ||
issued bills of its own<lb/> | |||
credit, the consequent<lb/> | credit, the consequent<lb/> | ||
loss of credit would have<lb/> | loss of credit would have<lb/> | ||
been greater than the<lb/> | been greater than the<lb/> | ||
saving of the interest.</note><lb/> | saving of the interest.</note> | ||
had | |||
<p>If instead <add>antecedently to the Bank restriction</add> of borrowing the <add>promissory</add> money of the Bank Government<lb/> | |||
had issued <del>the sa</del> on its own credit <add>promissory money in</add> the same quantity<lb/> | |||
it would have said, could it have found credit, the <del>on</del> amount<lb/> | it would have said, could it have found credit, the <del>on</del> amount<lb/> | ||
of interest. | of interest. But <add>while</add> Government could not have found credit, the<lb/> | ||
Bank was by various circumstances enabled to find credit<lb/> | Bank was by various circumstances enabled to find credit<lb/> | ||
Government had it not been for the Bank, Government to | Government had it not been for the Bank, Government to circulate<lb/> | ||
the same quantity of money would have done so at such a<lb/> | the same quantity of money would have done so at such a<lb/> | ||
loss of credit as would greatly have overbalanced what it<lb/> | loss of credit as would greatly have overbalanced what it<lb/> | ||
paid to the Bank for interest. Had it not been for the Bank<lb/> | paid to the Bank for interest. Had it not been for the Bank<lb/> | ||
English Government money would have run the same course | English Government money would have run the same course as<lb/> | ||
to at the time of the Prussian War the United States government<lb/> | to at the time of the Prussian War the United States government<lb/> | ||
money did, and at the time of the French Revolution <del>was</del> the<lb/> | money did, and at the time of the French Revolution <del>was</del> the<lb/> | ||
French Government money did </p> | French Government money did.</p> | ||
<p> | <p>☞ Topics remaining to be handled.</p> | ||
<p>1. | <p>1. Transfer not encreasing prices— Examples 1. Money circulating at a gaming<lb/> | ||
table. 2. | table. 2. Money given by A. to B. by B. to C. &c. without being employed<lb/> | ||
in purchase and <gap/> | in purchase and therefore in <gap/>, or a loan.</p> | ||
<p>2. Profit and loss of government by employment of <del>depret</del> money<lb/> | <p>2. Profit and loss of government by employment of <del>depret</del> money<lb/> | ||
depretiated by self-lending for government use</p> | depretiated by self-lending for government use.</p> | ||
<p>3. Government | <p>3. Government derives in times of need the above advantage<lb/> | ||
from the great old Bank: how it never did nor ever can<lb/> | from the great old Bank: how it never did nor ever can<lb/> | ||
derive the same advantage from the little new Banks — all<lb/> | derive the same advantage from the little new Banks—all<lb/> | ||
the profit was and is so much waste</p> | the profit was and is so much waste.</p> | ||
<p>4. Quere why individuals in general have | <p>4. Quere why individuals in general have given to the<lb/> | ||
Bank that credit which they would not have give to Government.</p> | Bank that credit which they would not have give to Government.</p> | ||
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{{Metadata:{{PAGENAME}}}} | {{Metadata:{{PAGENAME}}}} | ||
1826. June 20
Constitutional Code.
Ch. IX. XI.Ministers severally.
§. 13 Finance Minister.
Money 1. actual real in effect x promissory.
Art. 19. If instead of
borrowing money of the
Bank, Government had
issued bills of its own
credit, the consequent
loss of credit would have
been greater than the
saving of the interest.
If instead antecedently to the Bank restriction of borrowing the promissory money of the Bank Government
had issued the sa on its own credit promissory money in the same quantity
it would have said, could it have found credit, the on amount
of interest. But while Government could not have found credit, the
Bank was by various circumstances enabled to find credit
Government had it not been for the Bank, Government to circulate
the same quantity of money would have done so at such a
loss of credit as would greatly have overbalanced what it
paid to the Bank for interest. Had it not been for the Bank
English Government money would have run the same course as
to at the time of the Prussian War the United States government
money did, and at the time of the French Revolution was the
French Government money did.
☞ Topics remaining to be handled.
1. Transfer not encreasing prices— Examples 1. Money circulating at a gaming
table. 2. Money given by A. to B. by B. to C. &c. without being employed
in purchase and therefore in , or a loan.
2. Profit and loss of government by employment of depret money
depretiated by self-lending for government use.
3. Government derives in times of need the above advantage
from the great old Bank: how it never did nor ever can
derive the same advantage from the little new Banks—all
the profit was and is so much waste.
4. Quere why individuals in general have given to the
Bank that credit which they would not have give to Government.
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jeremy bentham |
j whatman turkey mill 1824 |
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admiral pavel chichagov |
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