The Theory and Practice of Banking, Vol. 1 (Classic Reprint)

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Excerpt from The Theory and Practice of Banking, Vol. 1Paper Currency, or Credit, is by sedulously adj ust ing the Rate of Discount by the Bullion in the Bank, and the state of the Foreign Exchanges.This doctrine, but very imperfectly understood, and extremely unpopular at that time, is now universally acknowledged to be the true one, and is adopted by all the great Banks in Europe. The Usury Laws in France have been modified in order to enable the Bank of France to adopt it.An Imperial Commission was subsequently appointed to examine into the whole subject of the Usury Laws, with a view to their abolition, before which the Author was examined as a witness.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.