Circular To Bankers, June 26, 1828 : Front Page

Publication: Circular To Bankers June 26, 1828

Circular To Bankers (Newspaper) - June 26, 1828, London, Middlesex 11 ti: LI 1 No. 10. J FRIDAY, SEPTEMBER 26, 1828. TO OUR SUBSCRIBERS. Sirs, W bee V frequently asked to g P f pediency of withdrawing small notes gradually fro panic experienced we Id mention the names of bankers, who had large circulations of small notes, that that were so little affected by the prevailing contagion, they did not get, either from London or elsewhere, a singl sovereign, to meet the increased demand arising from th circulation, in such a manner as to I paid off in April next, when the whole y few to be panic of Wh many parts of England, whe must (as far as the the small notes of private bankers do not circulate, the power of the banker to re-issue them is concerned) be sup- panic was most severely felt, and produced the most disas- are so S pressed. In deciding this question, experienced bankers � much better able to form an opinion, from the peculiar circumstances attending the circulation in the various vicinities of their banks; and on this local knowledge so much of are more subj sequences, notes, being held r by the inferi of iety than by the wealthy, are undoubtedly in the of those who less under the inn* j be alarmed th ce of reason, the rich. To and the question hinges, that we have not been anxious to give consideration of the case has left pr.ession which the d bank the i it they may, in England, sometimes create runs upc � � h s. Being held also by great numbers of the peopl tgitation of numbers under alarm, There j of great knowledg cy, who say, that if there had been person banking and affect the feelings of o, may, m some in-f the comparatively few wh dep money on interest in banks. But thi England in the y we should effect is partial, and not ge We are acquainted with had pan an pin hich men in p are also some remarkable instances, where more money was brought disposed These gentlemen forget, that the into banks by depositors during runs, than was taken out more alarming and trying panic amongst the bankers during the same time for payment of the small notes. year 17

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Publication: Circular To Bankers

Location: London, Middlesex

Issue Date: June 26, 1828

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