Money

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Monograph

Identifikator:: 1819853969

URN:: urn:nbn:de:zbw-retromon-207464

Document type:: Monograph

Author:: Cannan, Edwin http://d-nb.info/gnd/118666916

Title:: Money

Edition:: 6. ed.

Place of publication:: [London]

Publisher:: King

Year of publication:: 1929

Scope:: XII, 120 Seiten

Digitisation:: 2022

Collection:: Economics Books

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

Ny PREFACE but many journalists and even a few economists, actually contended that the Currency Note issue, made under a purely permissive Act of Parliament, was uncontrollable by any authority or human being, or at the least that it could not be checked without making the Bank of England bankrupt. ““ People constantly speak,” said one of them, “as though the issue of currency notes were somehow within the power of the Treasury to regulate. But surely this is not so. Anyone who has a balance at the Bank of England can turn it into currency notes ad lib. How is he to be stopped ? The Bank was supposed to have an incurable diarrhcea of pounds, though she had never suffered from that disease before the laxative of the Currency and Bank Notes Act, 1914, was administered to her. The House of Commons Select Committee on National Expenditure, after hearing the Treasury on the subject, declared in its Second Report, “Notes are not issued in order to make Government pay- ments,” without making the slightest attempt to explain how the Government managed to get rid of the proceeds of the issue without paying them away. All this made me think it desirable to add to my Wealth a chapter containing the elementary principles on which the value or purchasing power of money depends, but the exposition turned out longer than [ expected, so that it seemed better to publish it separately. This, unaltered except for a few unim- portant corrections and some excisions or amend- ments of allusions to states of things no longer exist- ing, forms Part I of the present edition.

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