An Examination of the Theory and the Effect of Laws: Regulating the Amount of Specie in Banks (Classic Reprint) - Softcover

Inhaltsangabe

Excerpt from An Examination of the Theory and the Effect of Laws: Regulating the Amount of Specie in Banks

IN the following pages I have endeavored to show, that the deposits, as well as the circulation, of banks, are mainly created by the banks themselves; that bank-credits, in these two forms of circulation, and deposits, constitute the currency, or medium, for the transaction of the business of the United States; and that their security and permanency depend upon the possession by the banks of an adequate amount of specie to redeem them at all times and under all circumstances. I have endeavored also to trace or point out the origin of, and the causes that influence, the ex changes between different banks in large commercial cities, between different parts of the country, and between this country and other countries; in order to show, that a care ful observation of these exchanges may - in connection with a law requiring the banks to hold a suitable amount of specie in proportion to their liabilities - provide a sound and stable currency for the country; and, as a practical illustration of this, I have referred to the condition of the banks of New Orleans under the operation of such a law in the State of Louisiana.

About the Publisher

Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com

This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Die Inhaltsangabe kann sich auf eine andere Ausgabe dieses Titels beziehen.