Capital Volume I
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Capital-Volume-I
Receipts.Payments.
Bankers’ and Merchants’£533,596Bills payable after date£302,674Cheques on Bankers, &c. payable on demand357,715Cheques on London Bankers663,672Country Notes9,627Bank of England Notes22,743Bank of England Notes68,554Gold9,427Gold28,089Silver and Copper1,484Silver and Copper1,486 Post Office Orders933 Total £1,000,000Total £1,000,000“Report from the Select Committee on the Bank Acts, July, 1858,” p. lxxi. . 54 “The course of trade being thus turned, from exchanging of goods for goods, or delivering and taking, to selling and paying, all the bargains ... are now stated upon the foot of a Price in money.” (“An Essay upon Publick Credit.” 3rd Ed. Lond., 1710, p. 8.) 55 “L’argent ... est devenu le bourreau de toutes choses.” Finance is the “alambic, qui a fait évaporer une quantité effroyable de biens et de denrées pour faire ce fatal précis.” “L’argent déclare la guerre à tout le genre humain.” [“Money ... has become the executioner of all things.” Finance is the “alembic that evaporates a frightful quantity of goods and commodities in order to obtain this fatal extract.” “Money [...] declares war [...] on the whole human race”] (Boisguillebert: “Dissertation sur la nature des richesses, de l’argent et des tributs.” Edit. Daire. Economistes financiers. Paris, 1843, t. i., pp. 413, 419, 417.) 56 “On Whitsuntide, 1824,” says Mr. Craig before the Commons’ Committee of 1826, “there was such an immense demand for notes upon the banks of Edinburgh, that by 11 o’clock they had not a note left 100 Chapter 3 in their custody. They sent round to all the different banks to borrow, but could not get them, and many of the transactions were adjusted by slips of paper only; yet by three o’clock the whole of the notes were returned into the banks from which they had issued! It was a mere transfer from hand to hand. “Although the average effective circulation of bank-notes in Scotland is less than three millions sterling, yet on certain pay days in the year, every single note in the possession of the bankers, amounting in the whole to about £7,000,000, is called into activity. On these occasions the notes have a single and specific function to perform, and so soon as they have performed it, they flow back into the various banks from which they issued. (See John Fullarton, “Regulation of Currencies.” Lond. 1845, p. 86, note.) In explanation it should be stated, that in Scotland, at the date of Fullarton’s work, notes and not cheques were used to withdraw deposits. 57 Note by the Institute of Marxism-Leninism in the Russian edition: Apparently a slip of the pen. When writing inverse the author evidently meant direct. 58 To the question, “If there were occasion to raise 40 millions p. a., whether the same 6 millions (gold) ... would suffice for such revolutions and circulations thereof, as trade requires,” Petty replies in his usual masterly manner, “I answer yes: for the expense being 40 millions, if the revolutions were in such short circles, viz., weekly, as happens among poor artisans and labourers, who receive and pay every Saturday, then 40/52 parts of 1 million of money would answer these ends, but if the circles be quarterly, according to our custom of paying rent, and gathering taxes, then 10 millions were requisite. Wherefore, supposing payments in general to be of a mixed circle between one week and 13, then add 10 millions to 40/52, the half of which will be 5½, so as if we have 5½ millions we have enough.” (William Petty: “Political Anatomy of Ireland.” 1672, Edit.: Lond. 1691, pp. 13, 14.) 59 Hence the absurdity of every law prescribing that the banks of a country shall form reserves of that precious metal alone which circulates at home. The “pleasant difficulties” thus self-created by the Bank of England, are well known. On the subject of the great epochs in the history of the changes in the relative value of gold and silver, see Karl Marx, l.c., p. 136 sq. Sir Robert Peel, by his Bank Act of 1844, sought to tide over the difficulty, by allowing the Bank of England to issue notes against silver bullion, on condition that the reserve of silver should never exceed more than one-fourth of the reserve of gold. The value of silver being for that purpose estimated at its price in the London market. Download 6.24 Mb. Do'stlaringiz bilan baham: |
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