Conversations on the principal subjects of political economy by William ElderConversations on the principal subjects of political economy by William Elder

Conversations on the principal subjects of political economy

byWilliam Elder

Paperback | January 31, 2012

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1882. Excerpt: ... debts unimpaired amid the decline of all other things of value. The fixed property in land and labor-power must, and should, by the expense of their improvements, and through those improvements made more and more effective in service, rise relatively to the prices of the things which they produce; among which are money and money claims. But such change is gradual, and does not affect the current credit values in which ordinary business is conducted. "The mills of the gods grind slow," and the world has time to be ready for the grist. Let there be steadiness in change, growth without shock, in the provident arrangements of societary life. CHAPTER XVIII. BANKING. T. Of course we do not intend in our discussion of this subject to treat it as if we were producing a system such as might be a directory for the conduct of bank officers. We are neither required, nor are we competent, to perform such a task. Money banks are of several kinds. Observe, however, that we do not give the name of bankers to the mere custodians of cash, who keep and return the identical sum or substance in bulk without use. This is only another way of hoarding, and has nothing of the function of banking in it. The institutions that fall properly within the name may be classed as of two kinds only, though neither of these has an invariable character. They are sufficiently distinguished for consideration as Banks of discount and deposit, and Banks of issue. One of the earliest banks of deposit (which must also have loaned its funds at a discount for the use) of easy reference is that mentioned in the gospel of Luke (chap. xix. 23), in which money was deposited so that the owner, after an interval, could receive it again with usury. Such banks, doubtless, existed long before the Christian e...
Title:Conversations on the principal subjects of political economyFormat:PaperbackDimensions:126 pages, 9.69 × 7.44 × 0.27 inPublished:January 31, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217462456

ISBN - 13:9780217462457

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