November 2. 1867. N. 1262.

The Economist, 2. November 1867. S. 1241/1242.
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Trades Unions’ Finance.

The societies are as yet financially young; their superannuation fund does not begin to tell for years, because they only take young members. Therefore, their great apparent prosperity quite consist consistent with real insolvency, even so far as the risks of old age and sickness are themselves concerned. But if you added to these liabilities the strike liabilities, the insolvency is indisputable.

The Economist, 2. November 1867. S. 1243.
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Bank of England.  Zusatz von Marx.
(Separate Reserves for Bankers’ Accounts)

If the Banks all issued notes, and at the same time instituted an efficient system of note exchanges by means of which they returned to one another the notes of their respective issues, as in Scotland, the return by the Banks of the notes in circulation made up immediately after a general exchange of notes would represent the notes in the hands of the general public as distinguished from the banks. As a matter of fact, such a return is made weekly by the banks in Scotland, and shown, in round figures, that the 1l. notes in circulation 2,500,000l. und die notes of 5l. and upwards, 1,500,000l. These returns show with great accuracy the amount of the natural circulation of the country. Aber in England there is a national circulation und an artificial or factitious circulation. The national circulation is the notes in transitu, or circulation outside the banks. The artificial consists mostly of the B. o. England notes held in reserve by the non-issuing banks. The amount |174 so held varies, not according to the actual requirements of the public, but the anticipated requirements, and in times of mistrust the apprehensions of the non-issuing banks. Daher die increase in the apparent circulation on 9. und 16 May 1866. The increase in that one week was nearly 4 millions. This operated on the B.o.E. reserves precisely as if much bullion shipped out of the country. Wären die Bankers accounts getrennt gewesen von der übrigen Reserve, so on 16. May, 1866, supposing they held 10 Mill. £ belonging to other banks, all the specie they had of their own was 2,323,805l. against 41,207,708l. of liabilities, for 11,120,995l. of which they were under statutory obligation to provide a separate reserve of gold.


  • London. 1868.
  • 1866 „The Economist“ (Jahrgang 1866) vol. XXIV.
  • The Social Economist, 1. Oktober 1868
  • „The Economist“ (Jahrgang 1866) (Fortsetzung)
  • Jahrgang 1867.
  • Register der obigen Auszüge aus dem Economist für 1866 und 1867.
  • The „Money Market Review“. Jahrgang 1866.
  • The Money Market Review. Jahrgang 1867.
  • Register Money Market Review Jahrgänge 1866 und 1867