The High Price of Bullion

第7章

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第7章

The High Price of Bullion David Ricardo

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The High Price of Bullion
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  IhaveomittedasmuchofMrPearse\'spaperasregardedtheamountofbanknotesincirculationbeforetherestrictiononbankpayments,becausewhilstthepublicpossessedthepowerofobtainingspeciefortheirnotes,theexchangecouldnotputbemomentarilyloweredbytheamountofthebankissues。

  Theaverageamountofbanknotesfromtheyear1797to1809

  inclusive,inthefollowingtable,iscopiedfromtheReportoftheBullionCommittee。Theratesofexchangeareextractedfromalistpresentedbytheminttoparliament。TherehavebeenthreereturnsmadetoparliamentbytheBank,oftheamountoftheirnotesincirculationintheyear1810;thefirstforthe7thand12thofeachmonth;thesecondaweeklyreturnfromthe19thJanuary,1810,to28thDecember;andthethirdalsoaweeklyaccountfromthe3dMarchto29thDecember,1810。Theaverageamountofnotesabove5l。includingbankpostbills,accordingtothefirstaccountis*15,706,226ofnotesunder5l。*6,560,674

  Second……16,192,1106,758,895

  Third……16,358,2306,614,721

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