Circular To Bankers Newspaper Archives

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About Circular To Bankers

  • Publication Name: Circular To Bankers
  • Location: London, Middlesex
  • Pages Available: 12,035
  • Years Available: 1828 - 1853
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OCR Text

Circular To Bankers (Newspaper) - December 12, 1828, London, Middlesex '�'fVOiti 74 1 T ^ �, - s* � 4 J LI 1 I ^ 1 11 �i: 4 > T 1 1 � > t 7 I \ E FRIDAY, DECEMBER 12, 1828. V I. 1 > '4 f _ f TO OUR SUBSCRIBERS. J I Sirs, this view of the subject, it is, that hours, at such a juncture being of more importance than ordinary. J I \ e recen muc -l p t which tended kers, prud their transactions 4. eir market with advarfb^s upon Mercantile bills, cannot, there money vicinity of their bank pay II upon fore, be too highly appreciated by all of their suspending public interests, de- ' bankers and money manned and. would have justi^fied the support of the' titrec tors *-5 >>S'U0,V^..^; i ' is.;, i;'\ v v �tv. of the vear as our r ' / IS suppose, passed when the fir sit feeling, in regard to alt money matters, the iai , -.jIT1 of a mercantile of a London would cease, are under the ception respect ouse is an event to excite miscoh- the strongest apprehensio rences. "VTe hear, from all parts of the country, of the g the character and effects of such sequences: it may be instructive ficial to dwell disastrous t - v ctive sedmgs in upon the subjeqt a littk long wrecks of Great wisdom, aiid' prompt' energy of action, in those were ged at the who possess power combin r ft of the last panic, but whose mortal injury was kept of extraordinary boldness the circumspection, and 1 , -k from the world. It is in the operation of preventing foresight th e of so ty through 4 * raifications of commerce, that the bold and prudent conduct of the Directors of the Bank of England is seen to be and who possess great influence on credit, may, any fuWre occasion, effectually ul evils. V 1- important and beneficial. On promp spread gof an incipient disorder, of a very malignant character titude, quired i well as boldness energy and discretion And, if we have a single observation to re- II ake  Witness their speeches and measures in the session of 1826, as Weft as the first words of the famous document transmitted by the Earl of Liverpool and the Chancellor of the Exchequer to the Go-Vernbr and Deputy Governor of the Bank of England, which began it thus;:-.*' Th,e panic in the money market having subsided, audi the pecuniary kans^actions of the country jhaving reverted to their accus-tomed course*!' No. SB. be 6y such means, aldne, could the first causes of alarm be prevented from increasing, "and becoming general. A panic had begun, and was increasing in a quarter where the greatest pecuniary power exists, and whence unbounded influence upon f|,'inArn^ otfAit ihvariablv emanates. But was effectually checked in its operation, by the unequivo cal demonstratfenk of the government, and - { M. 7 > 1 - judi and England. conduct of the Directors of the Bank of ;