857

INDEX.

A.

Académie des Sciences Morales et Politiques, 377.
Account, Weekly, of the Bank of England, 144, 231, 494.
new form proposed, 203.
explained, 501.

Act, Bank, of 1844, main enactments of, 2.

main object of, 521.

Act, Silver Coinage, 104, 123.

Alexander and Co., 276.

Alexander, Mr. Nathaniel, his opinion, 609.

Allowance, Proposed, to the Bank of England, 509.
American Free Banking Act, 349, 423, 429, 463, 466, 832.
Crisis in 1857, 572.

Arbitration of Exchanges, 822.

Ashburton, Lord, his opinion, 539, 608.

Assignats, French, 25, 37, 349.

Atermoiements, 733, 936.

Austin on Jurisprudence, 692.

Authorised Issues of Bank of England, 129.

Ayr Bank, 25.

B.

Balance of Trade, 405, 409, 708, 730, 821.

Bank Charter Act, main enactments of, 2.

radical defect of, 11, 25.

suspensions of, 58, 324.

condemned by Committees of Inquiry, 58.

substituted terms, 200.

explanation of, 205.

injurious effects of, 288.

absurdity of, 298, 310, 385.

main object of, 521.

effect of, 720.

INDEX.

Bank of England, run on in 1825, 10.

notes not depreciated since 1819, 10.
always solvent, 11.

credit capital of, 26.

different from other banks, 126, 138.
Government Debt to the, 127.

how made up, 129.

reserve, rule for, 127, 129, 160, 233.
deficiency of, exemplified, 162, 166.
has no capital, 128, 130, 499.
privileged issues, 129.

average note circulation, 131.

average coin and bullion, 133.

weekly returns, 144, 145.

raises discount for want of notes, 147.

profits of issue, 178.

deficiency of capital, 179, 436, 438, 687.
discounting on deposits, 181.

rates of discount, 186.

proposed form of weekly return, 203.
proposed Government allowance to, 235.

to Directors, 242.

proper object of, 282, 297, 300.

issues on deposits, 282, 283.

influence of, on discounts, 301, 303.

average stock of bullion, 321.

average issue of notes, 322.

mission of the, 400, 688.

bad practice of the, 417, 437, 541.
misuse of its credit capital, 445.
capital of, how disposed of, 499.

reserve, how to protect it, 452.

compared with the Bank of France, 561, 686, 764.

both Banks should be established on the same

principle, 471, 472, 737.

average daily financial operations of the, 510.

perfect system of accounts, 511.

courtesy in all the departments, 512.

free from interference of the State, 512.

regulates commercial credit, 687.

difference of rate of interest and discount, 721.

deficient as a bank of issue, 760.

wants notes, 783.

the reserve should be proportioned to the issue,
791.

functions of the, 792.

Banking Department separate from the Issue Department, 4, 75,

137, 311, 760.

Lord Overstone's opinion in favor of this se-
paration, 13.

Banking Department, effects of this separation, 76.

Bank Act of 1797, 60.

of 1819, 61.

of 1833, 64.

of 1844, 65, 68.

of 1845, 69, 71.

of 1844, suspensions of, 324, 394.

Banks, The object of, 159.

The province of, 300.

Private ought not to issue their own notes, 492.
notes in excess cannot be kept in cirulation, 679.
ought not to speculate, 713.

principles of the constitution of, 819.

Bank notes and money, distinction between, 193.
Bank Question, The, differences of opinion, 366.

Bank Directors, not impartial judges, 345, 454, 460.
Banking Act, Free, of America, 423, 463, 832.

Banking and Free Trade, 298.

Banking Companies and Railway Companies compared, 741.

Banking not proper for a State, 304.

Bankers and Goldsmiths, 291.

Bank Stock Proprictors, 308.

Bank of France, The, raises discount for want of specie, 147.

practice of, 320, 417, 541.

average stock of bullion, 321.

compared with the Bank of England, 513, 519,
561, 686, 764.

both Banks should be established on the same

principle, 471, 472.

subject to the State, 513.

regulates commercial credit, 687.

deficient in capital, 687.

difference of rates of interest and disconut,

721.

importance of entente with the Bank of Eng-
land, 737.

deficient as a Bank of Issue, 759.

wants money, 783.

the reserve should be proportioned to the
issue, 791.

functions of the Bank, 792.

Bankers Magazine, 356.

Barometer of the Bank of England, 762.

Bastiat, on Money, 402, 647.

Bates, Mr., his opinion, 608.

Bill, A good, 35.

discounting a, 39.

Bills of Exchange, 294, 546, 549, 824.

Birbeck, Mr., his opinion, 608.

Blue Book, The People's, 622.

Bullion, the symbol of capital, 37.

fallacy of the large reserve of, 139.

average stock of in the Bank of England, 321, 852.
in the Bank of France, 321, 852.
shut up
in the Bank of England, 328, 482, 677.
silver, 489.

Capital, 30, 37, 47.

C.

Capital and Credit the circulating medium, 31, 37, 47.

and Money, 297, increase of, 646.

Capital of the banks, what it consists of, 192.

how it operates, 662.

the surplus leaves the country, 676.

Capital, Loanable, 314.

Theory of Loss of, 317.

floating, 748.

Capital of the Bank of England insufficient, 436.

Capps, Mr. Mr. Edward, his opinion of the Bank Act, 610.
Carey, Mr., his opinion of gold, 434.

Cashier, Chief, of the Bank of England, 514.

Chapman, Mr. D. B., his opinion of the Bank Act, 608.

Check and Note, difference between, 477, 757, 758.

Chevalier, M. Michel, his opinions, 220, 377, 383, 384, 385, 387,

388, 466.

Child, Sir Josiah, ' On Trade,' 253.

Child and Co., 266.

Circulation, 29.

Circulating Medium, 31, 47.

Clearing Houses, 416, 475, 756, 763.

Coinage, Gold, 72; Silver, 104.

Coleridge, 639.

royal prerogative, 305.

Commandité à Commanditaire, 761, 768.

Commerce, Balance of, 405, 409, 708, 730, 821.

Conclusion, 642.

Convertibility of the Note not doubted, 179.

Copernicus, 307.

Corn Laws, 265.

Country Banks, 161.

Coutts & Co., 266.

Credit Capital of the Bank of England misused, 445.

Credit and Gold, 430.

Credit, 37, 47, 126.

organisation of, 196.

issues, authorised by Act, 129.

Credit Money, advantages of, 474, 653, 654, 755.

convertibility of, essential, 476.

conditions of, 758.

Crisis in 1857 184.

Crisis in 1793, and 1797, 561.

in 1826, 1847 and 1857, 562, 571, 572.

Currency Principle, False, 16.

Currency, 28.

has nothing to do with prices, 15.
abolishes exchanges, 29.

Total amount of, 330, 341.

deposited at banks, 330.

Currency and Transferrable Debt, convertible terms, 22, 29.
Currency, British and Foreign.

importance of equilibrium of value, 566.

Dead Weight Annuity, 228, 502.

Dædalian Wings, 663, 851.

D.

Debt, Public, to the Bank of England, 499.

Debt, or Services due, 22.

Decimal, The, Unit, 823.

Deficiency Bills, 517.

Dennistoun & Co., 577, 580.

Deposits, 181. Other, 286, 315.

in the Banks of the United Kingdom, 257.

issues on, 283.

Depreciation of gold, mistaken views of, 431.

Directors of the Bank of England, not impartial, 345.

their mistaken views, 413, 415.

allowance proposed to, 509.

how elected, 513.

their high character, 515.

their practice, 523, 530.

Discount, variations in Bank rate of, 41, 313, 315, 486, 536, 544,

false principles relating to, 400, 451.

fluctuations of, 536, 807.

why raised by the Bank of England, 147.

why raised by the Bank of France, 147.

maximum rate for Bank of England, 214, 623.

Napoleon First, his opinion, 220.

unsteadiness of, accounted for, 412.

different rates between the Bank of England and the Bank

of France, 418, 419, 720, 758.

average rate of, what it ought to be, 355.

high rate unjustifiable, 369, 420, 547.

importance of low rate, 447.

necessity of a maximum rate, 448, 556.
the purpose of a high rate, 565.