Report from the Select Committee on Bank Acts Volume 2; Ordered by the House of Commons to Be Printed, 30 July, 1857 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1857 Excerpt: ... Bank rate, and that the B;-nk rate is also at times influenced ly the market rate, 4839 4848. 4864-4874 Influence of the Bank with regard to the rate, at periods when the supply of money in the market is so low, as to compel the public to have recourse to the Bank; this is especially the case towards the end of each quarter, before the payment o the dividends, 4840-4844 Effect of a diminished circulation in the hands of the public in giving the Bank a control in regulating the rate, 4844-4848. Report, 1857--continued. Chapman, David Barclay. (Analysis of his Evidence)--continued. Anything like a panic has the effect of driving the monied interest to the Bank for supplies of money, . 4S48 Circumstance of there having been an increase in the paper circulation for a few weeks before the payment of the dividends in the first quarter of 1856 and 1857; 4848-4857 Difficulty of comparing the amount respectively of the discount operations of the Bank of England mid of all other discount operations, 48584862 Practice of witness's house in regard to the rate of discount; attention necessarily paid to the Bank rate, whilst at the same time the stale of the market is the chief guide, 4863-4871. Lower rate charged on the average by witness's house than by the Bank, 4865-4869 Tendency of competition in the market to bring the rate out of doors below the Bank rate, 4866-4871 Necessity of the Bank conforming 10 the market rate, without being much above it or below it, 4872-4874 Reference to a tabular statement (which witness delivers in), showing the rates of discount charged by witness's house for firstclass bills in each month, in each of the years 1824-57, together with the average rate per anuum, 4875-4879. Injurious effect of the usury laws in hampering the money marke..