A letter to ... Robert Peel ... on the pernicious effects of a variable standard of value, by one of his constituents [E. Copleston].J. Murray, 1819 - 104 pages |
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A Letter to ... Robert Peel ... on the Pernicious Effects of a Variable ... Edward Copleston No preview available - 2018 |
A Letter to ... Robert Peel ... on the Pernicious Effects of a Variable ... Edward Copleston No preview available - 2015 |
Common terms and phrases
acknowledged practice Act of Parliament amount of Bank-notes argument average amount balance of payments Bank of England bank paper bank-paper Britain Bullion Resolutions cash payments cause cent circulation clandestine exportation commerce commodity connexion continued contracts dealers debt declares demand for labour depreciated currency depreciation depression doctrines effect engaged evil exchange with Hamburgh Exchequer expedient fact favour fictitious foreign fraud gold coin guineas important increased king king's prerogative legal coin legal money legal tender less loss means measure melted coin ment metals mode natural never nominal observed opinions ounce paper currency period political pound sterling pound troy price of bullion principles Proclamation profit promissory notes proportion quantity question racter reasoning reign relative value rency repeated and acknowledged Resolved Ricardo seignorage shillings Sir Matthew Hale specie Speech standard taken place things tions trade transactions unfavourable value of money Vansittart wealth weight whole
Popular passages
Page 96 - That the promissory notes of the said company have hitherto been, and are at this time, held in public estimation to be equivalent to the legal coin of the realm, and generally accepted as such in all pecuniary transactions to which such coin is lawfully applicable.
Page 7 - ... upon such grounds and reasons as every standerby was able to swear was not law, and so had lost the pleasure and delight of being kind and dutiful to the king, and instead of giving were required to pay, and by a logic that left no man anything which he might call his own ; they no more looked upon it as the case of one man, but the case of the kingdom, nor as an imposition laid upon them by the king, but by the judges, which they thought themselves bound in conscience to the public justice not...
Page 94 - That although the adverse circumstances of our trade, together with the large amount of our military expenditure abroad, may have contributed to render our exchanges with the continent of Europe unfavourable, yet the extraordinary degree in which the exchanges have been depressed for so long a period, has been in a great measure occasioned by the depreciation which has taken place in the relative value of the currency of this country, as compared with the money of foreign countries.
Page 101 - Notes in circulation (all of which were for £. 5. or upwards) was about £. 11,262,000. ; and that £. 57,274,617, had been coined in Gold during His Majesty's reign, of which a large sum was then in circulation. That the annual amount of the Exports and Imports of Great Britain, on an average of three years, ending 5th...
Page 95 - THAT the Promissory Notes of the Governor and Company of the Bank of England are engagements to pay certain sums of Money in the legal Coin of this Kingdom ; and that for more than a century past, the said Governor and Company were at all times ready to discharge such Promissory Notes in legal Coin of the Realm, until restrained from so doing on the 25th of February 1797, by His Majesty's Order in Council, confirmed by Act of Parliament.
Page 71 - ... instituting either the impression or denomination; but had usually the stamp sent them from the exchequer. The denomination, or the value for which the coin is to pass current, is likewise in the breast of the king; and, if any unusual pieces are coined, that value must be ascertained by proclamation. In order to fix the value, the weight and the fineness of the metal are to be taken into consideration together. When a given weight of gold or silver is of a given fineness, it is then of the true...
Page 100 - THAT the amount of Currency necessary for carrying on the transactions of the Country, must bear a proportion to the extent of its Trade and its public Revenue and Expenditure...
Page 93 - That when it was enacted by the authority of parliament, that the payment of the promissory notes of the bank of England in cash should for a time be suspended, it was not the intention of parliament that any alteration whatsoever should take place in the value of such promissory notes.
Page 95 - THAT the right of establishing and regulating the legal money of this kingdom hath at all times been a royal prerogative, vested in the Sovereigns thereof, who have, from time to time, exercised the same as they have seen fit, in changing such legal money, or altering and varying the value, and enforcing or restraining the circulation thereof, by Proclamation, or in concurrence with the estates of the realm by Act of Parliament: and that such legal money cannot lawfully be defaced, melted down, or...
Page 97 - That the unfavourable state of the exchanges and the high price of bullion, do not, in any of the instances above referred to, appear to have been produced by the restriction upon cash payments at the bank of England, or by any excess in the issue of bank notes...