Bank—A Crisis

1 mentions.

1857

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1857

one mention

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I am sorry to hear from the noble Lord that our periods of prosperity are always necessarily to be accompanied by such circumstances, but when the noble Lord so fairly tells us what are the consequences of inflated circulation—when he tells us that, unless we have these considerable checks, the currency will be greatly increased—there will he no check on the issues of the Bank—A Crisis will arise, and there will, in fact, be no standard of value, I may be permitted to say to the noble Lord with all respect, that though these were opinions once held by persons of considerable reputation, and for aught I know may be still adhered to by persons of no mean repute, yet they are conclusions the authenticity of which is entirely impugned by authorities of a more novel nature than perhaps the noble Lord may be aware of, but of no less high a character than any to which the noble Lord could appeal.


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