The Theory and Practice of Banking, Volume 2

Front Cover
Longmans, Green, 1893

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Contents

Prope
10
Their description of the extraordinary debasement of the Irish Currency
11
Exchange with Belfast favourable to Ireland while that with Dublin adverse
13
ence of 12 per cent between Exchange with Dublin and with Belfast
14
Opinion of Mr Marshall that Irish Bank notes were depre ciated
15
His evidence on the subject
16
The Theory of the Directors of the Bank of Ireland as to the regulation of the paper currency
17
Report of the Committee
18
The Committee report that the Directors should regulate their issues by the price of guineas and the foreign Ex changes
19
The Committee do not discuss the new theory of paper currency
20
First declaration by a Parliamentary Committee that the paper currency should be regulated by the Foreign Ex changes
21
Renewal of the Banks loan to Government
22
Perfidious conduct of Prussia in 1805
23
The Berlin decree against British commerce in 1807
24
Immense speculation in 1808 and subsequent years
25
Great rise in the market price of gold
26
Names of the Committee
27
Remarks upon some of the evidence
28
State of facts agreed upon
29
Issues inaintained by the other party
30
Discussion of the points of difference
31
Evidence of Mr Chambers
32
Mr Loyds opinion
35
Run on the Bank in 1832 during the discussion on
49
Speech of Lord Grenville
52
Resolutions of Mr Vansittart
54
Mr Canning tries to persuade Mr Vansittart to abstain from pressing his resolution
55
Letter of Lord King
56
Opposed by Lord Grenville
57
Observations of Lord Stanhope
58
Alleged injustice of making the Bank buy gold at the market price
59
Great speculations and increase of country banks in 1813
60
Great destruction of country bank paper in 1816 rise in the foreign exchanges and fall in the market price of gold
61
Which is an example of the trath of the principles of the Bullion Report
62
Restriction prolonged till July 1818
63
Great drain of bullion in 181819appointment of Com mittee by both Houses of Parliament to enquire into the expediency of resuming cash payments
64
Great change in the opinions of the mercantile world regard ing the principles of the Bullion Report
65
Opinion of Mr Pole DeputyGovernor of the Bank
66
Opinion of Mr Haldimand Director of the Bank
67
Opinion of Mr Ward Director of the Bank
71
Opinion of Mr Samuel Thornton late Director of the Dank
72
Opinion of Mr Thomas Tooke
74
Opinion of Mr Ricardo
75
Opinion of Mr Baring
77
Opinion of Mr John Ward
79
Reports of the Committees to both Houses
80
Ministerial resolutions
81
Speeches of Lord Lauderdale and Lord King
83
CHAPTER XI
96
First appearance of the heresy that bills of exchange form
132
Position of the Bank in 18333435
138
Decline of bullion in the Bank in 1836
149
The C
150
Errors committed by him
151
Continuation of Sir Robert Peels speech
152
Unfairness of his illustration
153
Fallacy of cultural 15 Second atti 1823
154
Continuation of Sir Robert Peels speech
155
Further proposals of Sir Robert Peel
156
Extract from Sir Charles Woods speech
157
Chief provisions of the Act
158
The Act authorises a violation of its own principle
160
Incorrect to say that the Act of 1844 is the complement of the Act of 1819
161
Great error of writers who think that prices must vary exactly with the amount of the Currency
162
The Bank Act shewn to be subject to the same radical vice as the bank principle of 1832
165
Monetary pressure in April 1847
166
Passes off after the first week of May
167
Great failures in the Autumn of 1847
168
The Government letter authorising the Bank of England to issue notes beyond the limits prescribed by the Act of 1844
170
Extraordinary aid afforded by the Bank of England to Com mercial houses in the Autumn of 1847
171
Meeting of Parliament in November 1847
172
Speech of Sir Robert Peel
175
The same continued
176
Opinion of the Governor and DeputyGovernor of the Bank of England on the Act of 1844
177
Mr Gurneys opinion
178
His extraordinary inconsistency
260
The same continued
262
Practical results of Laws Theory
263
Fifth exampleThe American banking convulsions of 183739
264
The Scotch Banks suspend payments in cash in 1797
266
Fundamental vice of the constitution of the Bank of England
267
The consequences of this vicious principle are prevented by its being limited to that single instance
268
This refutation incomplete
271
The same continued
273
Specific meaning of overissue
274
Fallacy of the expression good bills
275
Bullion is only the regulator of its amount
276
Specie and credit must always increase and decrease to gether
277
The rate of discount is the true mode of acting upon the paper currency
278
Effects of the action of this principle
279
In all commercial crises production should be curbed
280
Consequences of violating this principle 250
281
Historical proof of the fallacy of this theory
282
When the Foreign Exchanges are adverse the Bank must contract its issues
283
CHAPTER XV
287
Judicial decisions as to the meaning of Currency
293
Hoare
298
All Negotiable Instruments are Currency
304
AttorneyGen 456 494
307
Writers who include Bank Credits as Currency
312
Discussion between Mr Hume and Lord Overstone
320
Legal and philosophical errors of these opinions
326
currency
334
The Bank receives the power of unlimited issue
337
The Bank Act is subject to the same radical vice as Lord
343
Crisis of 1793 adoption of the Expansive Theory
350
Failure of the Restrictive Theory in other countries
357
An excessive restriction of Credit produces and causes a
363
Regulations of Bank Charter Act 1833
384
Causes of the failure of Joint Stock Banking in England
390
Decay of private Banking
396
CHAPTER XVIII
402
On Short Bills
412
On Banking Investments
419
Advances by way of Cash Credits and Overdrawn Accounts
427
On the Clearing System
435
On the London Clearing House
443
Bulteel
451
Rules relating to a Bankers Lien
452
Simpson
453
On Securities by third persons
462
Phillips
464
Factors Acts Amendment Act 1877
472
CHAPTER XX
478
Gardiner
480
7
482
Definition of Parties to an Instrument of Credit
483
Parliament
490
Rutt
493
The most celebrated examples of Lawism
511
Taylor
529
139
530
con
543
Accounts of the French Assignats
547
519
549
Smith
553
The same continued
558
Stobart 563
563
Duke of Argyll 564
564
Kemp
573
Dixon
576
Opinion of M Michel Chevalier
581
Conflict of Laws
587
536
600
Appointment of the Committee on banks of issue in 1840 145
601
In re European Bank
604
State of the country from 1838 to 1844
610
Moore
CHAPTER XII
FROM THE BANK ACT OF 1844 TO THE PRESENT TIME

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Common terms and phrases

Popular passages

Page 570 - Where in a bill drawer and drawee are the same person, or where the drawee is a fictitious person, or a person not having capacity to contract, the holder may treat the instrument, at his option, either as a bill of exchange or a promissory note.
Page 542 - Partial, that is to say, an acceptance to pay part only of the amount for which the bill is drawn ; 3.
Page 536 - In the hands of any holder other than a holder in due course, a negotiable instrument is subject to the same defenses as if it were non-negotiable. But a holder who derives his title through a holder in due course, and who is not himself a party to any fraud or illegality affecting the instrument, has all the rights of such former holder in respect of all parties prior to the latter.
Page 520 - Where a banker in good faith and without negligence receives payment for a customer of a cheque crossed generally or specially to himself, and the customer has no title, or a defective title, thereto, the banker shall not incur any liability to the true owner of the cheque by reason only of having received such payment.
Page 580 - Where a bill has been paid for honor, all parties subsequent to the party for whose honor it is paid are discharged, but the payer for honor is subrogated for, and succeeds to, both the rights and duties of the holder as regards the party for whose honor he pays and all parties liable to the latter.
Page 584 - Where two or more parts of a set are negotiated to different holders in due course, the holder whose title first accrues is as between such holders...
Page 469 - ... the master or other person signing the same, notwithstanding that such goods or some part thereof may not have been so shipped, unless such holder of the bill of lading shall have had actual notice at the time of receiving the same that the goods had not been in fact laden on board...
Page 538 - Where a bill is addressed to two or more drawees who are not partners, presentment must be made to them all...
Page 479 - Act had not passed), to pass and transfer the legal right to such debt or chose in action from the date of such notice, and all legal and other remedies for the same, and the power to give a good discharge for the same, without the concurrence of the assignor...

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