Documenti ispano-genovesi dell'Archivio di Simancas

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Identifikator:: 176352146X

URN:: urn:nbn:de:zbw-retromon-145495

Document type:: Monograph

Title:: Documenti ispano-genovesi dell'Archivio di Simancas

Place of publication:: Genova

Publisher:: Co' tipi del R.I. de' Sordo-Muti

Year of publication:: 1868

Scope:: 291 Seiten

Digitisation:: 2021

Collection:: Economics Books

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Title:: Documento XXXIX. Brano di lettera de Giovanni de Vega a Carlo V, in data di Roma, circa la sospettata partecipazione di Pier Luigi Farnese e del Papa nella trama del Fieschi. 1547, 17 gennaio

Collection:: Economics Books

CONTENTS 1x which advanced money on more favourable terms than the goldsmiths, The credit of its notes was attacked during the recoinage; but, despite some hesitancy on the part of the publie, various paper forms of credit came into general use, and the issue of Exchequer Bills helped to popularise paper currency. » ” " . . . . . . . 439 217. Facilities for Trade. The Bank also facilitated the formation and employment of Capital, and proved, as had been anticipated, to be of great advantage fo many trades; it did not divert money from pro- ductive employments, but gave opportunities for trading on borrowed capital. . . . . . . . . . . 442 218. Misunderstandings in regard to Credit. The nature and con- Bitions of Credit were imperfectly recognised. Business assumed a specu- lative character, especially in connection with the Stock Exchange, and Bubble Companies were formed for South Sea trading, and mining projects. The Bank of England acquired experience; while Law’s failure in France gave a serious warning; and London was becoming the chief financial centre of the world, The reaction after over-trading brought about the failure of the Ayr Bank in 1772. The Bank of England warded off disaster in 1782, but the expansion of trade in 1792 was followed by a crisis, which the Bank failed fo minimise. Still the conditions of issuing convertible paper were becoming better understood. . ’ . . . . . . 448 219. Scotch Banking. The banking system in Scotland facilitated the formation of capital there. The Bank of Scotland issued £1 notes to the public; it had to reduce its operations in 1704, and, after a period of fierce competition with the Royal Bank, developed a system of cash credits, and received deposits. The rivalry of well-conducted banks led to a general adoption of paper money in Scotl®nd. 453 XIV. PARLIAMENTARY REGULATION oF COMMERCIAL DEVELOPMENT. 220. Commercial Relations with France and Portugal. Burleigh’s scheme of fostering all elements of Power, by regulation, had ceased to be appropriate; the Tories would have given discriminating permission to commerce of all kinds, but the Whigs discouraged trades which did not react favourably on industry, and relied on indications furnished by the balance of trade to show what was hurtful. The effort to render trade subservient to industry led to the prohibition of French trade, and to the securing of the Portuguese market for cloth, by admitting Portuguese wines on special lerms. This Methuen Treaty presented an obstacle to ratifying the treaty of 1713, which would have allowed the growth of French trade, and this policy was not abandoned till 1786, . . . . 458 221. The New Attack on the East Indian Trade, The same economic principle underlay the fresh attack on the East India Company, which imported goods that competed in the home market with English manufactures, such as fans, woollen cloth, and silk. There were also good grounds for criticising the conduct of the Company with regard to the employment of its capital and the action of its officials in carrying on private trade. The Directors and their-agents often differed as to the ‘investment’ and ‘remittances’ ; and the business was so intricate that supervision was impossible and corruption

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