Report from the Select Committee on Banks of Issue: Together with the Proceedings of the Committee, Minutes of Evidence, and Appendix. Ordered, by the House of Commons, to be Printed, 22 July 1875H.M. Stationery Office, 1875 - 559 pages |
From inside the book
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Page 3
... gold ? -Under the Act of 1845 it is fixed that . the amount in circulation shall be taken to be the average amount in periods of four weeks . The amount which may be in circulation is determined by the average quantity of gold and ...
... gold ? -Under the Act of 1845 it is fixed that . the amount in circulation shall be taken to be the average amount in periods of four weeks . The amount which may be in circulation is determined by the average quantity of gold and ...
Page 71
... gold equal to the excess be- yond their authorised circulation . 981. You can hold the gold , can you not , at the centre , and you can hold the notes at your branches ? We must hold the gold at the centre . 982. And therefore the gold ...
... gold equal to the excess be- yond their authorised circulation . 981. You can hold the gold , can you not , at the centre , and you can hold the notes at your branches ? We must hold the gold at the centre . 982. And therefore the gold ...
Page 73
... gold and silver coin and the notes of other banks is stated to be 426,056 l . Of that amount , 36,417 l . consisted of the notes of other banks . 1014. Then you had 390,000 7. in gold and silver coin against your total liabilities ...
... gold and silver coin and the notes of other banks is stated to be 426,056 l . Of that amount , 36,417 l . consisted of the notes of other banks . 1014. Then you had 390,000 7. in gold and silver coin against your total liabilities ...
Page 76
... gold or cash balances without interest , presuming those ba- lances to be with the Bank of England , of 1,000,000 7. , the total amount being 6,650,000 7 . Taking that sum at 3 per cent . , it brings out 232,7507 . From that we deduct ...
... gold or cash balances without interest , presuming those ba- lances to be with the Bank of England , of 1,000,000 7. , the total amount being 6,650,000 7 . Taking that sum at 3 per cent . , it brings out 232,7507 . From that we deduct ...
Page 80
... gold , that is to say , the gold over and above that required for the excess of your circulation , was about 3 per cent .: I presume you consider that under the circum- stances of the case , that is quite sufficient ? -- In answering ...
... gold , that is to say , the gold over and above that required for the excess of your circulation , was about 3 per cent .: I presume you consider that under the circum- stances of the case , that is quite sufficient ? -- In answering ...
Common terms and phrases
65 miles Act of Parliament advantage allowed amount of gold answer authorised issue average aware Backhouse bank notes Bank of England Bank of Ireland Bank of Scotland banks of issue bills branch banks branches cash cent Chairman-continued charge cheques Clydesdale Bank commission Committee competition consider country banks course Cumberland customers deposits discount doubt England notes English banks extent fact Gairdner give Goschen Goschen-continued honourable Member increase Irish banks issue notes issuing banks joint stock banks legal tender liabilities London bankers ment monopoly not?-Yes note circulation note issue opinion Orr Ewing Parliament payable power of issue private banks privilege of issue profit proportion provincial banks question regard reserve right of issue Royal Bank Sampson Lloyd Scotch banks Scotch notes Scotch system Sir John Lubbock Sir John Lubbock-continued Sir Robert Peel Stephen Cave suppose tion William Shaw
Popular passages
Page 15 - Parliament, and that it shall not be lawful for any body politic or corporate whatsoever created or to be created, or for any other persons whatsoever united or to be united in covenants or partnership exceeding the number of six persons in that part of Great Britain called England, to borrow, owe, or take up any sum or sums of money on their bills or notes payable on demand or at any less time than six months from the borrowing thereof...
Page iii - Orders of The House, examined the matters to them referred; and have agreed to the following REPORT...
Page 40 - ... the bank of England) or for any other persons whatsoever united or to be united in covenants or partnership, exceeding the number of six persons, in that part of Great Britain called England to borrow, owe or take up any sum or sums of money on their bills or notes payable at demand, or at any less time than six months from the borrowing thereof.
Page 43 - An Act for giving to the Corporation of the Governor and Company of the Bank of England certain privileges for a limited period...
Page 45 - ... trade or business of banking in London, or within sixty-five miles thereof, provided that such body politic or corporate, or society, or company, or partnership, do not borrow, owe, or take up in England, any sum or sums of money on their bills or notes payable on demand, or at any less time than six months from the borrowing thereof, during the continuance of the privileges granted by this Act to the said Governor and Company of the Sank of England." All notes of the Bank of England, payable...
Page 224 - And be it enacted, That all the compositions payable to the several bankers mentioned in the Schedule hereto marked (C.), and such other bankers as shall agree with the said Governor and Company to discontinue the issue of their own bank notes as aforesaid, shall, if not previously determined by the act of such banker as hereinbefore provided, cease and determine on the First day of August One thousand eight hundred and fifty-six, or on any earlier day on which Parliament may prohibit the issue of...
Page 5 - And whereas the intention of this act is, that the governor and company of the Bank of England should during the period stated in this act (subject nevertheless to such redemption as is described in this act,} continue to hold and enjoy all the exclusive privileges of banking given by the said recited act of the thirty-ninth and fortieth years of the reign of his Majesty King George...
Page 228 - England, expressed to be payable to bearer on demand, shall be a legal tender to the amount expressed in such note or notes, and shall be taken to be valid as a tender to such amount for all sums above five pounds, on all occasions on which any tender of money may be legally made, so long as the Bank of England shall continue to pay on demand their said notes in legal coin...
Page 217 - Company, to authorize and empower the said Governor and Company to increase the Amount of Securities in the said Issue Department beyond the total Sum or Value of Fourteen million Pounds, and thereupon to issue additional Bank of England Notes to an Amount not exceeding such increased Amount of Securities specified in such Order in Council, and so from Time to Time: Provided always, that such increased Amount of Securities specified in such Order in Council shall in no Case exceed the Proportion...
Page 43 - ... during the continuance of the corporation of the governor and company of the Bank of England, no other bank, or any other corporation, society, fellowship, company, or constitution in the nature of a bank, shall be erected, or established, permitted, suffered, countenanced, or allowed by act of parliament, within...