Zwei Bücher zur socialen Geschichte Englands

Grundriß des deutschen Zollrechts

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Monograph

Identifikator:: 1891000233

URN:: urn:nbn:de:zbw-retromon-260008

Document type:: Monograph

Author:: Held, Adolf http://d-nb.info/gnd/116681667

Title:: Zwei Bücher zur socialen Geschichte Englands

Place of publication:: Leipzig

Publisher:: Duncker & Humblot

Year of publication:: 1881

Scope:: XIV, 775 Seiten; 1 Portrait

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Zweites Buch. Entwicklung der Grossindustrie.

Collection:: Economics Books

[4 MONEY Nowadays the situation is very different. Methods of setting one payment against another through banking and other agencies have done away with the necessity of a tenant holding an amount of coin in preparation for paying his rent and gradually increas- ing it as quarter day draws nearer, and also with the necessity of landlords holding a large amount of coin after quarter day and letting it down only gradually uring the quarter. The rent is paid by a bank writing certain figures in its books which enable the landlord instead of the tenant to draw out the sum: the bank does not keep one stock of coin for the tenant and another for the landlord; both stocks are dispensed with. Even when there were no £1 and 105. notes, the firm that had to pay £1,000 in wages did not in modern times have to accumulate (1,000 gradually throughout the week before pay day, but simply sent a clerk to the bank for the money an hour or two before it was paid out. Paper currencies containing notes of small denomin- ation have obviously relieved every one except banks and governments of the necessity of holding coin unless in preparation for paying sums under the amount of the smallest note. Coin is only wanted as “ the change” of a note. When thereare ten-shilling notes in circulation, the private person however rich does not want more than about 7s. in coin, and a poor person, unless he is very poor indeed, will have just as much. Firms which have to pay large sums in wages do not want any coin to pay those men who receive multiples of 10s. They only want coin to pay the surpluses over multiples of 10s. The conse- quence is that, when the amounts held by govern- ments and banks are left out of account, the magnitude of the average holding of coin depends almost entirely on the magnitude of the smallest note which is allowed by law and is generally acceptable. If £5

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