Mr. Goschen's One Pound Note: A Digest of Parliamentary Opinion on Bank Note Issues, &c., 1797-1819 (Classic Reprint)

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Excerpt from Mr. Goschen's One Pound Note: A Digest of Parliamentary Opinion on Bank Note Issues, &C., , 1797-1819With a few interjectional remarks caused by the narrative, I have thrown together some extracts from Parliamentary papers bearing upon the questions of the National currency, of its adequacy, and of its character.The enormous development of commerce, external and internal, demands that the habit of money should be as free and unrestricted as the necessities of safety and solvency will permit.In the following pages I bring back to mind the thoughts of legislators, front to front with financial and national difficulties such as we have not witnessed, and whose intellect and practical wisdom can. Claim to be at least equal to that of any generation of Britons.Legislation being almost always of the nature of a com promise, we are more likely to find in the reports leading up to legislation the clear sense by which it was produced than in the enactment following thereon.It appears well that a greater international attention should be paid to the value of national gold coinages of equal pure gold contents and weight, although a distinct national mint and form and name were retained.Gold coin of any country would then be capable of being by agreement used indiscriminately for the purposes of money of account.Lord Sherbrooke, I think, many years ago during the time of a Monetary Conference, suggested this as a step in the liberation of metallic currency. If a sovereign, a 25 gold franc, and a gold 5-dollar piece were adjusted to contain exactly the same number of grains of pure gold, it would be possible and probable that such coins would be equally at home for trade purposes wherever they were.Appended are two letters which I published lately in the Scotsman newspaper, containing some statistics and remarks bearing principally upon the provincial note issues of the United Kingdom.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.