May 26, 1866. N. 312.
The Money Market Review. 26. Mai 1866. S. 688/689.
Schließen
The Bank of England and the London Bankers in the
Panic.
Friends of the Bankact of 1844: If it has been suspended, it has not failed; if it has failed, it was good, very good, that it should have failed; and that it fails as beautifully and beneficently as it operates. Economist selbst muß aber sagen: „Indeed if it had not been broken this month it must have been repealed next month. The panic took the matter in its own hands.“
In the letter of the Governor and Deputy Governor of the Bank to the Chancellor of Exchequer , on the 11. May, they have the impudence to state: „We commenced this morning with a reserve of £5,727,000, which had been drawn upon so largely that we cannot calculate upon having so much as 3 Mill. £. St. this evening, making a fair allowance for what may be remaining at the branches, and unless the money taken from the Bank is entirely withdrawn from circulation there is no |192 reason to suppose that this reserve is insufficient.“ Dieß als »Troops of bankers were coming up from all parts of the country in order to provide themselves with gold and banknotes.[«] The balances of the London Bankers, lodged in the B.o.E., usually from 3 to 5 Mill., and it was clear that, had the Bank Act not been suspended, they would have been compelled to withdraw every 6d. of those balances to meet a tremendous „run“. All those balances must have come out of the Bank reserve of 3 Mill. £.
The Deputy Governor of the Bank was exceedingly reluctant at the conference with Gladstone to admit that there was any necessity whatever for the suspension of the Act, until he was curtly reminded by one of the joint-stock bank directors present that „they could draw a couple of cheques to-morrow morning, which would compel the B.o.E. to close its doors“. Gladstone interposed, „but you will not do it“.
The Money Market Review, 26. Mai 1866. S. 689/690.
Schließen
Lord Clarendon on
the Panic.
The panic of 1866 possesses one essential characteristic which did not belong to its predecessors. Continental capitalists have in this instance become alarmed, and, contrary to all precedent, on the seeming verge of a colossal European war, withdraw their money from London as a measure of security, instead of sending it to London for safety, as in previous periods of convulsion. Clarendon , on the morning after the issue of the Gvt. letter, indited his circular to the British embassies and legations throughout Europe, with the view of staying undue panic on the Continent as to British solvency.
We have been taught to think that the withdrawal of a million or two of bullion from the Bank of England is a very serious affair, and that the addition of a million or 2 is the occasion for national congratulation. … The precious metals always have and always will flow backwards and forwards from one country to another, and all law is powerless to stem this natural course … Clarendon tells Europe that long-continued prosperity in commercial affairs and the general wealth consequent on it have produced their ordinary results in encouraging speculation, especially of a monetary and financial character, and in fostering hopes of acquiring wealth by more speedy means than are presented by ordinary methods of commercial industry. …
The Money Market Review, 26. Mai 1866. S. 690/691.
Schließen
Transfer of Business of the Bank of London to the Consolidated Bk.
The London Bank Reserve Fund in its last
balance-sheet upwards of £300,000. In April 1864
it paid dividends at the rate of 15% p. annum, price of its shares £122,
or £72 premium und damals addition of £200,000 made to the
capital by the creation and issue of 2000 new shares. These shares
issued to the then existing shareholders at premium
of £70 p. share, and the £140,000 realised by these premiums
was carried to the reserve funds. At its last half yearly meeting paid
dividend of 20%. Zusammenfassung von Marx in eigenen
Worten.
Schließen Came to deadlock by The Money
Market Review: dealing
Schließen dabbling in financial transactions. Zusatz von Marx.
The Money Market Review: Such an arrangement is somewhat novel
and curious, but, under the circumstances, it is perhaps the
best that could have been made.
Schließen Dummes arrangement
mit der
Consolidated Bank. Transfer ihr
22 May, evening, the current and deposit
accounts of their customers mit ample assets to cover them.
Consolidated Bk. undertook the charge of these accounts,
but assumed no responsibility für die
acceptances der B. o. London. Diese
daher unpaid return. Kommentar von Marx.
The Money Market Review: it must be owned that some very nice
legal points might be raised in regard to this arrangement, were
it worth the while of any party to raise them.
Schließen ⦗Dieß ungesetzlich;
giving one creditor privilege gegen den
other.⦘
Der Fehler to invest Banking Funds, which may be any day
withdrawn, upon Railway Contracts or Lloyds Bonds, or other securities based on
public works in a progressive but unfinished state. These works may be
long in progress, the capital to complete them may not be readily
obtainable, the works may never be finished. Until their completion all
such securities not only liable to great fluctuation in value, but
extremely difficult to deal with as available securities, even if they
can be dealt with, as such, at all.
It is the business of a financial association to lend money, or lend its credit for the raising of money, upon securities not immediately convertible, and repayable at longer dates than those at which a banker justified in lending his money. The financial association, lending at longer dates, and on less marketable securities, incurs therefore greater risk, and obtains therefore larger profits than the banker. If the business well managed, higher profits cover the larger possible losses, and enable it to pay higher interest and dividends to the shareholders. But the financial association ought not to take deposits repayable on demand, or at short notice, because their investments not immediately convertible, in case of emergency for the repayment of these deposits. The mischiefs of intermingling the system of the Banking institution mit financial operations lamentably illustrated in the cases of the Joint Stock Discount Co. and the Bk. of London, the London Financial and the Imperial Mercantile Credit Associations.|
The Money Market Review, 26. Mai 1866. S. 690/691.
Schließen
Loss in Investments since beginning of 1866 – May
26.
The recent failures and the general depreciation in the value of joint stock investments, since the commencement of the present year, has involved loss at 130 mill. £. St.
The Money Market Review, 26. Mai 1866, S. 692/693.
Schließen
The Stock Markets of the Week.
A steady drain of bullion to the Continent continues, partly to pay for the stock with which Continental holders have lately loaded our market, and partly because the machinery of the Foreign Exchanges is out of gear. Consols are weaker, but only to a trifling extent.
The speculators for a fall have altogether had a good harvest the this week. Individuals or cliques sell in combination large quantities of shares in an undertaking whose very existence depends upon its credit, and then comment on the depreciation in price which they have caused, in a way to bring the credit of such concern into question, and cap the whole proceeding by circulating false and defamatory reports. It is said that men of high standing in the City of London are not ashamed to pocket the profits of these transactions. Such men pick out a high priced bank as their next victim, and repurchase with glee the stock out of which they have frightened timid shareholders.
With the exception of Italian, which seems to have fallen as low as it well can go, Foreign Stocks are all weaker. The fall in Railway Stocks very severe. London and Northwestern have been the greatest sufferers.
The great interest of the week has centered in the market for Bankshares, where the fluctuations have been terrible. The crisis under which India is still suffering afforded a pretext for heavy sales of Agra and Masterman[’]s shares, touched at one time 10l. per share, or 15 discount; but a great rebound has taken place, and they close at £20.
Persons who have locked up their property in their cash-boxes can so invest mit immense profits.
The Money Market Review, 26. Mai 1866. S. 694/695.
Schließen
What is a Five-Twenty Bond? Zusatz von
Marx.
Schließen (Neue Art Convertibility for paper
currency)
The Gvt of the U. States have the option of redeeming this part of their debt at par, or 100, after 5 years from the date of issue, and at any period between 5 years and 20 [years] from the date of issue; but, at the expiration of the 20 years, the holder of five-twenty bonds can claim the principal or par value. Similar condition für die ten-forty Bonds, the option of the State continuing in this case after the first 10 years up to 40 years. On both these kinds of bonds the interest is payable in gold, on the former at 6, on the latter at 5% p. annum.
Seventy-thirty Bonds: Interest on them payable in greenbacks, at the rate of 73/10% p. an. (say 7$ 30 cents p. 100 dollars). These bonds exchangeable, at the option of the holder, after 3 years from the date of issue, into five-twenty bonds. By the last advices the relative prices of five-twenty and ten-forty bonds in New York were 102 und 96. Before long – das scheme schon brought forward by McCulloch, the Gvt. will issue a 5% stock at par, and thus exercise the option they have of paying off the five-twenty 6% or substituting a 5% in their place. Chase gave the holders of „greenbacks“ the option of conversion into five-twenties. He could not make his „greenbacks“ equal in value to gold, but to five-twenties, and that he did; and so he paid for the greatest and the most costly war the world ever knew. This is a form of convertibility for paper currency never before devised. But the money was raised at war rates. A „greenback“ issued in payment for cannon and gunpowder when gold was at 100% premium was, when converted into five-twenties, virtually raised at 12%. The purchase-power of the „greenback“ was only 50 p. 100, and upon that 100 6% interest was payable p. annum. Um später dieß to correct hielt Chase dem Staat die option der Rückzahlung etc vor. Mr. Chase’s option of redemption in 5 or 10 years, will be found supremely economical; in the course of a few years we may see a 41/2 or 5% stock substituted for the existing 6% five-twenties and ten-forties.|
The Money Market Review, 26. Mai 1866. S. 695/696.
Schließen
The Annual Circular of the American
Commercial Agency. Zusatz von Marx.
Schließen (Vehmgericht)
Issued from New York. The American Commercial Agency erstreckt sich nicht nur auf U. States, sondern auch British North American Provinces. The review takes the form of an everyday ledger account, the substance of what is known in favour of and against all large merchants and shopkeepers being regularly entered up. This Agency has long proved a terror to mercantile evil doers. In no large American town is it possible for anyone to embark in business without receiving an early call from a representative of the Agency, who puts questions about the previous place of business of the members of the firm, their capital, and their expectations. Into the ledger of the Agency the answers are duly posted, and beneath them such corroboration as the Agency may think proper to obtain. All the entries, in the name of any firm, are accessible to the other firms connected with the Agency, but inaccessible to the firm concerned. (Der Economist hat aus diesem Annual Circular Zahlen über die American failures genommen.) The considerable increase of failures in 1865, compared mit 63’ und 64’, is chiefly to be accounted for by the depreciation of the Currency.
The circulation, in England, as in New York, of a kind of Lloyd’s register of the seaworthiness of firms, would provoke proceedings in the Courts of Law. But as long as we resist the supervision of the Agency, and America submits to it, wir haben keinen Grund für our aspersions on American credit.
In diesem Augenblick great Consignments von Liverpool to New York. Diese consignments are stored in the bonded warehouses, for payment of duties; and the large amount of those duties keeps the market itself bare of stocks. Where realisations are demanded, such consignments take precedence of other sales, and a slight advantage in price – i.e., a moderate discount – universally attracts the jobbers. It is absolutely prejudicial to the standing of a firm to realise on terms of sacrifice; and no house of respectability will obey such instructions. Das Circular sagt u.a: „From all points of view, the prospect warrants the conclusion that the entire production in the U. States in 1866 will be nearly, if not quite double that of 1865.“ Dießmal, nach Ende des Kriegs, very few „drummers“ (commercial travelers) have been sent from the North to the South, sondern der South has gone to the North. Southern buyers have revisited the North, and made their own proposals to sellers. To New new and unknown men sales have chiefly taken the form of cash or produce, or collateral security of some kind – the assignment of planters’ notes, or mortgages, or of merchants’ notes, or mortgages. Old and known men well received, when they appeared with proposals for immediate or partial liquidation of old claims; but there has been no pressing of sales, as in former days.
The opening words of the Annual Circular state that last year (1865) was one of remarkable success in all commercial pursuits, or that seldom or ever has the increase in the surplus of merchants been so considerable or so universal.
The Money Market Review, 26. Mai 1866. S. 697.
Schließen
Act of 1844 and Bank of England.
Our trade £500,000,000 p.a., und amount of capital held on deposit in Bank, payable at demand, not less than 400 Mill. £. St. Surely of greater moment that convertibility should be preserved for such a mass of capital than £7,000,000 should be locked up in the B.o.E. as security for the note.
Nach der Theory des Acts von 1844 the value of money should fluctuate and depend on the variations in the currency. 2 August 1865 Bankreserve £6,461,318, rate of discount 4%. On 9 May 1866 Bankreserve £5,811,745, rate of discount 8%, showing a reduction of £649,573 in the amount of reserve, and an advance of 100% in the value of money. The theory, therefore, of regulating the value of money by the amount of reserve admits of the most capricious exercise.
The Money Market Review, 26. Mai 1866. S. 697.
Schließen
A Pluralist Director.
Thomas Dakin, alderman of the City of London, is a director und auditor in some 20 or 30 Cos, was a druggist, but left that to go to the directories, derives some 1000£ a year from it.|
The Money Market Review, 26. Mai 1866. S. 697.
Schließen
The Directors of failed
Cos.
The bears may make a dead set at the shares of the Bank of London and the Agra and Masterman, but they know that some of the directors of both these banks are directors of the Imperial Mercantile Credit Association , who managed in January last to carry forward a supposed sum of £100,000 undivided profit; in April to make a call equal in amount to the paid-up capital; and in May to wreck the Co.
12 January 1867. N. 345.
The Money Market Review, 12. Januar 1867. S. 35/36.
Schließen
Proposed Expansive Clause in the Bank Act of
1844.
Economist, Zusatz von Marx.
Schließen under
J. Wilson
, antagonist des Bank Act. Then, it „ratted“, became its supporter. Latterly, again backsliding. Globe,
after supporting the Act for more than 20 years, has turned against it,
demands its repeal. Economist, less courageous,
demands expansive clause (so daß minister Chancellor of
Exchequer by law ihn suspendiren können). Wants, therefore, partial abrogation of the Act.
J. Mills
(Manchester) (at meeting of Social Science
Congress und
Fowler „The Crisis of 1866“ verlangen dasselbe.
Beide Kerls affirm, that there would be nothing inconsistent with the
Act in the existence of a permanent power to abrogate it! in a specific
provision for the violation of its principle! Economist says „that power is not contrary to principle unless
the suspensions of the Act are so“. A
suspension of the law by Ministers is a violation of the law by
sufferance, which the Economist himself
elsewhere designated as a misdemeanour, although
an excusable one. The Bankact has only one essential
principle – the limitation of the
bankissues to 14 (now 15) millions, except against gold. The
„crisis clause“ would abrogate this
„sound“ |248 principle in the only case where it can come
into play. Ausserdem: The power (known to exist on 11 May 1866, and not
preventing the panic) would never be exercised except at the last moment, just to prevent the worst effects of a
panic. Nach
J. St. Mill
die theory und practical arrangements
des Bank Act adapted
Zusatz von Marx.
Schließen nur
to the case where drain of gold originates in a rise of prices
produced by an undue expansion of the currency or credit, but in no other case.
The Money Market Review, 12. Januar 1867. S. 38/39.
Schließen
Evidence of John Henry Gurney
and Mr. Robert Birnbeck Birkbeck before Vice-Chancellor Malins.
Zusatz von Marx.
Schließen Dieser meek und pious swindler, J. H. Gurney, admitted vor
Gericht, in his evidence the damning fact, viz: that during the whole
period von 1861 to the time of transfer no
profits whatever were made by the old firm, but, on the
contrary, large losses. Practice, nach dieser
evidence, of the firm für years, in making up their annual
accounts, to add interests upon all debts owing to the firm, bad as well
as good good debts. After 1863 this practice
discontinued. Balance sheet for 1864 exhibits
dead loss of £348,000. This ratio of loss increased in 1865 down to the moment of transfer to the new Co. In
7 months von
January to July 1865 (inclusive), balance of
losses £295,000, being at the rate of £506,000 p. annum. In this period
of 19 months, therefore, the firm was receiving and wasting or sinking
irrecoverably the money of their depositors to £643,000. All this
elicited during the examination of John Henry Gurney. And 500,000£
goodwill paid by the new firm for this business Zusatz von
Marx.
Schließen !
The Money Market Review, 12. Januar 1867. S. 39/40.
Schließen
Cotton Market. Past and Present.
Import value of cotton landed last year at Liverpool
estimated at more than 80 Mill. £, larger than in any previous
year; quantity of cotton manufactured (1866)
larger than in any previous year, auch its export. With an import value
of more than 80 Mill. £, there were fluctuations in
the market price, in the course of a few months, von
40 to 50%, und
prices at close of 1866, though firm for the
moment, 20 25 to 30% lower than at beginning of 1866. Hence, during that
year, prodigious losses und gains of cotton sellers Zusatz von Marx.
Schließen !
Mssrs. Leech, Harrison, and Forwood’s Review of cotton trade in 1866 shows that that year commenced with stock of raw cotton at Liverpool of 402,630 bales, which declined, on 16 March, to 340,250 bales, the minimum of the year, then rose, on 25 May, to 1,205,330 bls, the maximum of the year, and closed at 516,770 bales on 28 Dec. 1866. The course of market values thus described in outline:
Range of Prices in 1866 | Middling Orleans, per lb. | Fair Dhollerah. Per lb. |
---|---|---|
Highest, Jan. 5, the first prices of the year | 21d. to 211/8d. | 183/4d to 187/8d. |
Lowest, May 25, when the stock at maximum | 131/2d to 135/8 | 91/2d to 95/8d. |
Last, Dec. 28 | 161/4 to 163/8d. | 131/2d to 135/8d. |
Quantity of Cotton imported in U. Kingd. in 1866: bales 3,749,041, or 1,556,952,589 lbs, against 2,755,321 bls. in 1865. The increase in 1866 thus about 32%. Of this imported quantity supplied, at a cost to this country, as under:
United States: Bales: 1,156,130 | British India. Bls: 1,847,739 | Egypt bls: 167,451 | Brazil. bls: 407,646 | Smyrna bls. 32,770. | Peru, Mexico, Westindies 111,820 |
Un. States: Cost: £35 35 Mill. £ St. | India Cost: 33 Mill. £ St. | Egypt et Levant. Cost 6,600,000£. | Brazil. Cost: 5 Mill. £ St. | Westindies etc 21/2 Mill. £ St. | |
Total Cost: | £82,100,000 |
Home consumption, or quantity of raw cotton delivered from the port of Liverpool to consumers, i.e. manufacturers, in 1866 was 2,436,444 2,436,344 bales, or 46,853 bales per week, against 39,129 in 1865, and 30,822 bales in 1864.
Contrasted, quantities of cotton imported and used for home consumption during the last 7 years (but that of 1864 is omitted, for reasons not given,) stands thus: |249
Imported lbs. | Consumed at home lbs | |
---|---|---|
Marx verwendete die Angaben
über die importierte Rohbaumwolle der Jahre 1860 und
1861 in Manuskript II zum zweiten Buch des „Kapital“
(MEGA² II/11. S. 67.38–39) als Indikator für die
These, dass „[d]as Jahr 1860 und Theil
des Jahrs 1861 [...] bekanntlich die
Zenithjahre der englischen Baumwollindustrie
[waren]“ (ebenda. S. 67.30–32). Schließen 1860 |
1,429,697,450 | 1,068,727,600 |
Marx verwendete die Angaben
über die importierte Rohbaumwolle der Jahre 1860 und
1861 in Manuskript II zum zweiten Buch des „Kapital“
(MEGA² II/11. S. 67.38–39) als Indikator für die
These, dass „[d]as Jahr 1860 und Theil
des Jahrs 1861 [...] bekanntlich die
Zenithjahre der englischen Baumwollindustrie
[waren]“ (ebenda. S. 67.30–32). Schließen 1861 |
1,359,823,120 | 988,051,900 |
1862 | 533,223,819 | 414,905,150 |
1863 | 703,306,968 | 467,183,800 |
1865 | 965,727,070 | 718,428,470 |
1866 | 1,356,952,389 | 915,748,679 |
One prominent feature in this year: the large export of raw cotton to the Continent. In 1866: 1,136,565 bales, or a weekly average of 21,850 bales, against 890,830 bls in 1865, or 17,100 bls per week on the average.
Exports of manufactured cotton goods from the Un. Kingd. during first 11 months of last 3 years nach den Board of Trade Returns.
1866 | 2,341,747,710 Yards Piece Goods | 126,000,000 Yarns. Lbs. |
1865 | 1,805,814,998 | 94,000,000 |
1864 | 1,617,050,947 | 69,000,000 |
1860. | 1861 | 1862 | 1863 | 1865 | 1866 |
---|---|---|---|---|---|
594,400 bls | 699,300 | 433,900 | 327,500 | 405,488 | 581,570. |
Most of our spinners have adopted their machinery to the use of Indian cotton, and not altered it, will not alter it, until the supply of American cotton is proved certain and abundant.
Increasing consumption of raw cotton on Continent. Owing to the low wages there current, continental manufactures enabled to compete successfully with ours, it is said, in many of the coarser classes of cotton goods. Introduce also English machinery on extensive scale into their manufactories, so that feared as competitors in all classes of cotton goods unless „a great change takes place in our labour market“.
The tendency in this country is, and will be, towards dearer labour. The Prices of food, house rent, and indeed of all the necessaries of life increase in this country year by year, and must continue to increase so long as the present rate of production of the precious metals goes on, and so long also as we possess such vast colonial dependencies which, together with the U. St., are bidding treble or double the value for labour which in this country we can afford to pay.
The Money Market Review, 12. Januar 1867. S. 40/41.
Schließen
Thomson
Hankey: (formerly Governor of B.o.E.) Titel von
Marx notiert in einem Exzerptheft 1878 (IISG,
Marx-Engels-Nachlass, Sign. B 148).
Schließen „The Principles of Banking, its Utility
and Economy; with Remarks on the the Working and Management of the Bank of
England[“]. Lond.
1867.
Kommentar von Marx.
Schließen Nichts brauchbar hierin als die
explanation and description der
organisation der different offices
der
B.o.E.
Zusammenfassender
Kommentar von Marx.
Schließen Im Uebrigen Peel
man. He considers Act of ’44 as
„perfectly successful“.
Bill and mortgage, sagt Money Market Review, both promises to pay at fixed dates, and both are transferable, though by different modes of transfer. In the one case the debt always attaches to the property or commodity mortgaged, and need not necessarily to be paid at the time fixed; whilst, in case of bill of exchange, the debt is transferred from person to person, though each still remains liable to pay it, at the fixed date.
Inhalt:
- 17 February 1866.
N. 1173. (Fortsetzung)
-
24 February 1866. N. 1174.
-
March 3. 1866. N. 1175.
-
10th March, 1866. N. 1176.
-
March 17, 1866. N. 1177.
-
24. March 1866. N. 1178.
-
31 March 1866. N. 1179.
-
April 7. 1866. N. 1180.
-
April 14. 1866. N. 1181
-
April 21. 1866. N. 1182.
- April 28, 1866. N. 1183.
-
5 May. 1866. N. 1189.
-
12 May. 1866. N. 1185.
-
May 19, 1866. N. 1186.
-
26 May 1866. N. 1187.
-
June 2. 1866. N. 1188.
-
June 9. 1866. N. 1189.
-
June 16. 1866. N. 1190.
-
23 June. 1866. N. 1191.
- June 30. 1866. N. 1192.
-
Saturday, 7 July 1866. N. 1193.
-
July 14, 1866. N. 1194.
-
July 21. 1866. N. 1195.
-
July 28, 1866. N. 1196.
-
4 August 1866. N. 1197.
- August 11. 1866. N. 1198.
-
August 18, 1866. N. 1199.
-
August 25, 1866. N. 1200.
-
Saturday September 1, 1866.
-
8 September 1866. N. 1202.
-
September 15. 1866. N. 1203.
-
September 22, 1866. N. 1204.
-
September 29. 1866. N. 1205.
-
October 6 1866. N. 1206.
-
October 13. 1866. N. 1207.
-
Saturday. October 20. 1866. N. 1208.
-
October 27. 1866.
-
November 3. 1866. N. 1210.
-
November 10. 1866. N. 1211.
-
November 17. 1866. N. 1212.
-
24 November 1866. N. 1213
-
1. December 1866. N. 1214.
-
December 8. 1866. N. 1215.
-
15 December. 1866. N. 1216.
-
22 December. 1866. N. 1217.
-
29 December 1866. N. 1218.
-
January 5, 1867. N. 1219.
-
January 12, 1867. N. 1220.
-
19 January, 1867. N. 1221.
- January 26, 1867. N. 1222.
-
2 February 1867. N. 1223.
- 9 February, 1867. N. 1224.
-
16 February. 1867. N. 1225.
-
23 February 1867. N. 1226.
-
2 March 1867. N. 1227.
-
9 March, 1867. N. 1228.
-
16 March 1867. N. 1229.
- March 23, 1867. N. 1230.
-
March 30. 1867. N. 1231.
-
April 6. 1867. N. 1232.
-
13 April. 1867. N. 1233.
-
20 April. 1867. N. 1234.
-
27 April. 1867. N. 1235.
-
May 4, 1867. N. 1236.
-
March
May
11; 1867. N. 1237.
-
May 18. 1867. N. 1238.
-
25 May, 1867. N. 1239.
-
June 1. 1867. N. 1240.
-
June 8. 1867. N. 1241.
-
June 15. 1867. N. 1242.
-
22 June 1867. N. 1243.
-
June 29. 1867. N. 1244.
-
July 6. 1867. N. 1245.
-
July 13, 1867. N. 1246
-
20 July 1867. N. 1247.
-
July 27. 1867. N. 1248.
-
3 August 1867. N. 1249.
-
10 August, 1867. N. 1250.
-
17 August, 1867. N. 1251.
-
August 24, 1867. N. 1252.
-
31 August. 1867 N. 1253.
-
September 14, 1867. N. 1255.
- 21 Sept. 1867. N. 1256.
-
September 28, 1867. N. 1257.
-
October 5, 1867. N. 1258.
-
October 12, 1867. N. 1259.
- October 19, 1867. N. 1260.
-
October 26, 1867. N. 1261.
-
November 2. 1867. N. 1262.
-
9 November 1867. N. 1263.
-
November 16, 1867. N. 1264.
-
Nov. 23. 1867. N. 1265.
- 30 November, 1867. N. 1266.
- 7 December 1867. N. 1267.
-
December 21, 1867. N. 1269.
- December 28, 1867. N. 1270.
- Saturday. May 19. 1866. N. 311. Panic.
Bank o. E.
- Money Market. (Reserve of B.o.E.)
- The Recent Panic and Bank Act Suspension.
- The Panic and its Remedy.
- What to do with the Act of 1844?
- The Times and the
Panic.
- Investors Losses from „Bear“ Frights.
- The Stock Markets of the Week.
- The Limited Liability Act of 1862.
- Railways. (don’t pay)
- The Reports of the Asiatic Banking Co., and the Bank of Hindostan, China
and Japan (Limited.)
- The Economy of B.o.E. Notes. 1000£ Notes.
- Money Market. (Reserve of B.o.E.)
- May 26, 1866. N. 312.
- The Bank of England and the London Bankers in the
Panic.
-
Lord Clarendon on
the Panic.
- Transfer of Business of the Bank of London to the Consolidated Bk.
- Loss in Investments since beginning of 1866 – May
26.
- The Stock Markets of the Week.
- What is a Five-Twenty Bond? (Neue Art Convertibility for paper
currency)
- The Annual Circular of the American
Commercial Agency. (Vehmgericht)
- Act of 1844 and Bank of England.
- A Pluralist Director.
- The Directors of failed
Cos.
- The Bank of England and the London Bankers in the
Panic.
- June 2, 1866. N. 313.
- John
C.
G.
Hubbard, M.P. On the Bank Act and the
Currency. (Letter to the Times on 14 May.)
- The Theory of Panic etc.
- Board of Trade Returns.
- The Consolidated Bank
(limited)
- American Exchanges and Grain Trade.
- Pressure and securities.
- Variations between Prospectus and Articles. The
Russian Iron Works Co. (lim.)
- America. U. St. (Trade)
- Bearing.
- John
C.
G.
Hubbard, M.P. On the Bank Act and the
Currency. (Letter to the Times on 14 May.)
- July 21, 1866. N. 320.
- 28 July 1866. N. 321.
- August 4. 1866. N. 322.
- 11 August, 1866. N. 323.
- August 18. 1868. N. 324.
- 25 August, 1866. N. 325.
- 1 Sept. 1866. N. 326.
- 8 September 1866. N. 327.
- Sept. 15, 1866. N. 328.
- 22 September, 1866 N. 329.
- 29 September 1866. N. 330.
- October 6, 1866. N. 331.
- 13 October. 1866. N. 332.
- 20 October, 1866. N. 333.
- 27 October 1866. N. 334.
- 10 November. 1866. N. 336.
- 17 November 1866. N. 337.
- 24 November, 1866.
N. 338.
- December 1. 1866. N. 339.
- 8 December 1866.
N. 340.
- December 15, 1866. N. 341.
- 22 December, 1866. N. 342.
- 29 December 1866. N. 343.
-
5 January, 1867. N. 344.
-
12 January 1867. N. 345.
-
Proposed Expansive Clause in the Bank Act of
1844.
-
Evidence of John Henry Gurney
and Mr. Robert
Birnbeck
Birkbeck
before Vice-Chancellor Malins.
-
Cotton Market. Past and Present.
-
Thomson
Hankey: (formerly Governor of B.o.E.) „The Principles of Banking, its Utility
and Economy; with Remarks on
the
the Working and Management of the Bank of
England“. Lond.
1867.
-
Proposed Expansive Clause in the Bank Act of
1844.
-
19 January, 1867. N. 346.
-
26 Jan. 1867. N. 347.
-
February 2, 1867. N. 348.
-
9 February, 1867. N. 349.
-
16 February
1866
1867
. N. 350.
-
23 February 1867. N. 351.
-
2 March 1867. N. 352.
-
The Joint Stock Co’s Directory for 1867. London.
Charles Barker et Sons. 8, Birchin-lane.
-
Overends. Report of Liquidators and Report of Defence
Committee.
-
Leeman’s Bill respecting
Dealings in Bank Shares.
-
Limited Liability. High Nominal Shares.
-
London, Chatham and Dover
Railway Co.
(faux frais)
-
Plethora of money.
-
1915
on Overends.
(David Barclay
Chapman)
-
London, Chatham et
Dover
(Zusammensetzung des
Investigation Committee) (Solicitors)
(Scapegoats)
-
The Joint Stock Co’s Directory for 1867. London.
Charles Barker et Sons. 8, Birchin-lane.
-
9 March, 1867. N. 353.
-
March 16, 1867. N. 354.
-
23 March. 1867. N. 355.
-
30 March 1867. N. 356.
-
April 6. 1867. N. 357.
-
13 April 1867. N. 358.
-
April 20, 1867. N. 359.
-
April 27, 1867. N. 360.
-
May 4, 1867. N. 361.
-
11 May 1867. N. 362.
-
25 May. 1867. N. 364.
-
June 8, 1867. N. 366.
-
15 June. 1867. N. 367.
-
22 June 1867. N. 368.
-
29 June. 1867. N. 369.
-
July 6. 1867. N. 370.
-
July 13. 1867. N. 371.
-
July 20, 1867. N. 372.
-
July 27. 1867. N. 373.
August 3. 1867. N. 374.
-
August 10. 1867. N. 375.
-
August 17, 1867. N. 376.
-
August 31, 1867. N. 378.
-
14 September. 1867. N. 380.
-
21 September, 1867. N. 381.
-
28 September, 1867. N. 382.
-
Gold mines of Victoria. (Kitto: „The
Goldminers of Victoria.“ Lond. ’67)
Expropriation of Individual
Labour. (Property)
-
Public Debt of Russia. Consul
Michell’s
Report.
- Robert Knight: Letter to the
Right.
Right
Honourable Sir Stafford Northcote on
the Present Condition of Bombay. Lond.
1867.
-
Limited Liability Cos formed since
1865.
-
Gold mines of Victoria. (Kitto: „The
Goldminers of Victoria.“ Lond. ’67)
Expropriation of Individual
Labour. (Property)
-
5 October. 1867. N. 383.
-
Money Market Review. 12 Oct. 1867.
- 19 October 1867. N. 385.
-
October
27
26
, 1867. N. 386
-
9 November, 1867. N. 388
-
16 November 1867. N. 389.
- 23 November 1867. N. 390
-
7 December 1867. N. 392.
-
21 Dec. 1867. N. 394.
-
28 December 1867. N. 395.