Statistik und Verwaltung mit besonderer Berücksichtigung der preussischen Verwaltungsreform

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Monograph

Identifikator:: 1024536734

URN:: urn:nbn:de:zbw-retromon-42508

Document type:: Monograph

Author:: Jaeckel, Reinhold http://d-nb.info/gnd/117051152

Title:: Statistik und Verwaltung mit besonderer Berücksichtigung der preussischen Verwaltungsreform

Place of publication:: Jena

Publisher:: Verlag von Gustav Fischer

Year of publication:: 1913

Scope:: 1 Online-Ressource (62 Seiten)

Digitisation:: 2018

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

PERMANENT ANNUITIES 421 I. m 6. Ag ‘RU nk cal in nv. u's Se money, who desired to bargain for the payment of interest AD. 1638 in perpetuity, and did not wish to insist on having a right . Farge to claim the repayment of the principal at a definite date. Se The terms offered were criticised at the time as unnecessarily favourable? to the lenders, but it was certainly an advantage bo William to obtain the command of the money so easily. The new expedient thus devised proved convenient to the Government and popular with moneyed men, so that both political parties had recourse to it in turn. This financial policy was, however, more especially associated with the Whigs. Its inception was due to them, it harmonised with but in . their fundamental principle of keeping the resources of the or ey realm under Parliamentary control; and as many of their 2777le supporters had subscribed to the Bank, its prosperity as pany an institution coincided with the interest of their political friends. But from the first it roused the jealousy of the landed interest; they felt that they were placed at a dis- advantage, since they were heavily burdened with permanent taxation, by a system of finance which afforded the moneyed men a remunerative investment. The Tory scheme of a Land Bank was an attempt to organise the new finance on lines in which it should subserve the interests of landed men ; but after its impracticability had been demonstrated? the jealousy felt by the landed proprietors of the power of goldsmiths and bankers became more pronounced. For all that, the Tories were forced to acknowledge and rely on their help. So long as successive administrations had urgent need of money, and found men who were willing to lend it, they could hardly be expected to adopt the unpopular course of largely and immediately increasing the taxes. The fact that the new system was convenient is suffi- oe a ciently obvious, but there is some reason to doubt whether vapedient it was justifiable. The question whether it was really of TE hs man, and has inclined subsequent writers to discount his share in starting the Bank. Doubleday assigns a large part in the inception of the Bank to Bishop Burnet, who is also said to have followed Dutch precedents in the matter (Finan- cial History, p. 64). The Dutch debt at this time involved an annual charge of £1,000,000 in interest, Davenant, 1. 248. 1 Davenant, Essay on Ways and Means, 1. 24, thought the attraction of 89), diverted capital from trade, Many Dutch capitalists were glad to take advantage of the offer. 3 See below, p. 452.

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