...whole affair into their own hands at once, to issue their notes on the security, of-goods, instead o£ issuing them on Exchequer Bills, such bills being...on that security. ' They reluctantly consented, and rescued us from a very embarrassing predicament.' The success of the Bank of England on this occasion...

...the circulating medium, we advised the Bank to take the whole affair into their own hands at once, to issue their notes on the security of goods, instead...on that security. ' They reluctantly consented, and rescued us from a very embarrassing predicament.' The success of'the Bank of England on this occasion...

...recommended the directors of the Bank of England to ' take the whole affair into their own Lauds, and to issue their notes on the security of goods instead...such bills being themselves issued on that security.' The directors were at first unwilling to enter into this arrangement; but they ultimately yielded to...

...only safe one. Lend as if you have an illimitable stock of money. In " Lombard Street," Mr. Bagehot says : " Lending freely is the best method to check...in the money market till 1847. In 1847, 1857, 1866, the Bank made very large advances, and more readily than it did in 1825. But there is still no certainty...

...circulating medium, we advised the Bank to take the whole affair into their own hands, and at once to issue their notes on the security of goods instead...on that security. They reluctantly consented, and rescued us from a very embarrassing predicament. ' This declaration certainly caused great surprise...

...circulating medium, we advised the Bank to take the whole affair into their own hands at once, — to issue their notes on the security of goods instead...on that security. "They reluctantly consented, and rescued 'us from a very embarrassing predicament." The success of the Bank of England on this occasion...

...iii. p. 356. See also Hansari, vol. xiv. p. 450, &c. , for the debate on the introduction of the bill. them on Exchequer bills, such bills being themselves issued on that security ? " l The argument of the ministry was excellent ; but there was one weak point in it. The reasoning...

...the circulating medium, we advised the Bank to take the whole affair into their own hands at once, to issue their notes on the security of goods, instead...on that security. " They reluctantly consented, and rescued us from a very embarrassing predicament." The success of the bank of England on this occasion...

...circulating medium, we [Peel] advised the Bank to take the whole affair into their own hands at once, to issue their notes on the security of goods, instead...such bills being themselves issued on that security" (ibid., 99). With the government's guarantee in hand, the bank raised the discount rate to 5 percent...