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 Aus dieser Ausgabe zitierte Marx eine Stelle nach der Quelle im Brief an Collet Dobson Collet vom 19. November 1868, die sich nicht in den vorliegenden Exzerpten befindet.
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8 December 1866. N. 340
.

Aus:
The Money Market Review, 8. Dezember 1866. S. 636–638.
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 Titel von Marx notiert in „Heft 3. 1868“ der „Hefte zur Agrikultur“ (MEGA² IV/18. S. 587.35), einem Exzerptheft 1878 (IISG, Marx-Engels-Nachlass, Sign. B 148) und im Notizbuch 1878/1879 (IISG, Marx-Engels-Nachlass, Sign. B 152). – Verzeichnet im Katalog der SPD-Bibliothek (Nr. 41745).
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John Benjamin Smith, M.P. An Inquiry into the Causes of Monetary Panics etc[.] Letter addressed to Malcolm Ross, President of Manchester Chamber of Commerce. London. (1866)

Nach Smith „the currency question“ is „the only question which is incomprehensible“.

(Smith was the first chairman of the Anti-Corn-Law League, and von 1839–1841, President of the Manchester Chamber of Commerce.)

In 1840 charges der Manchester Chamber of Commerce against B.o.E. that, against her own acknowledged rule to hold a reserve of gold in the proportion of 1/3 to its liabilities, „the directors continually acted in direct violation of their own principle – fostered speculation and overtrading by large and injudicious loans, and then, by suddenly calling them in, produced a panic, a fall in the prices of all commodities, and serious losses to the whole commercial community“. In illustration he mentions, that in 1836 Bullion of the Bank reduced to 4 Mill. St., whilst its circulation and deposits 30 Mill. £. To replenish their stock of gold, a course of restriction was commenced, resulting in panic of 1837, by which losses of capital in the 5 great staples of cotton, woollen, silk, linen, and hardware, estimated at 40 Mill. £. The same thing occurred in 1839. To remedy these evils the Bank Act of 1844 was passed, but, says Smith „22 years have since elapsed, – and the evils now complained of … appear like a mere recital of the complaints of 1840“.

Now, nach Smith , reason davon, daß die London Joint Stock Cos. keep not large enough money reserve.  Zusammenfassung von Marx.
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But, Smith, great Smith, 1847 panic! but at that time deposits in the 9 leading joint stock banks less than 9 mill. Then, Smith, 1857, panic!
and the Inquiry Committee of 1857 considered the increase of deposits in the Joint Stock Banks as one of its causes, but failed to adduce any evidence – because there was none. And, finally,  Zusammenfassung von Marx.
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Smith, immense Smith, according to thyself,
in 1866 June 30, those Joint Stock Banks denounced not only not failed, but paid 25, 29, 50 p.ct. p.a. on their respective capitals. Smith utterly fails to show that the large deposits in the Joint Stock Banks, or the amount of their reserves had anything whatever to do with the last crises. But Smith feels it a hardship, that they should have drawn so largely, at such a time, on their own balances in the B.o.E.  Zusammenfassung von Marx.
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But, Smith, Smith!, couldst thou complain if thy creditor drew largely upon thine reserves at the time he wants his money?

 Kommentar von Marx.
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Smith is evidently a damned and solemn and presumptuous ass!

Aus:
The Money Market Review, 8. Dezember 1866. S. 642.
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Spirit of the Cotton Circulars.

Decline (gradual) in the price of raw cotton. Manchester manufacturers are losing money, have no confidence in current values, and begin to put their mills on short time.|

237

Aus:
The Money Market Review, 8. Dezember 1866. S. 642–644.
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Ebbw Vale Co. (Lim.)

Great Colliery owner und iron master; territorial magnate and powerful capitalist. Employs more than 15,000 persons, representing population of 50,000. 6 different collieries and iron works in Monmouthshire (3,254 acres of freehold land and mines; 9,352 acres of leasehold properties, besides properties in Gloucester and Somerset – the former in the Forest of Dean to the extent of 700 acres (inexhaustible coalfields), and the latter in Somersetshire to 3000 acres.[)] On its freehold and leasehold estates 2000 houses and cottages; its rental alone from lands, farms, and houses beyond 14,000 a year. 23 blast furnaces yielded 152,000 tons of pig iron annually, 100,000 tons of railway and finished iron turned out in the year. Collieries 850,000 tons of coal yearly, the mines 280,000 tons of ironstone annually. Besides, at the shipping ports there were ample appliances for a vast and increasing trade by sea. All this was private property when taken over by present Co.

The Co. among the first to apply the furnace gases to the saving of heat in the production of iron – applications that have since been carried to such perfection in South Wales, Staffordshire, and Cleveland.



22 June 1867. N. 368.

Aus:
The Money Market Review, 22. Juni 1867. S. 722.
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The Gellivara Co. (limit.)  Zusatz von Marx.
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(Directors.)

On 14 August 1866 the directors stated: (Report): £130,640 received in deposits and calls, £130,640 £139,640 of debentures due June 1867; and £50,747 due on mortgage. Total: £320,807. The chairman further stated that £288,000 required to complete the works, less £50,000 already expended. What has been done with the difference between 50,000 expended, and the £320,807 obtained from shareholders, or borrowed at their cost? Has this 270,807 been paid for the mine? Who were the owners of this mine? Were any of our projectors or directors proprietors of the mine? If so, they were vendors for themselves and purchasers for us,  The Money Market Review: a peculiarly perilous position for themselves morally, and a peculiarly perilous position for us financially
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a position for themselves morally, and for us financially perilous position
. The mine useless, unless upwards of 1/4 mill. l. St. laid out in forming a communication between it and the coast.



Inhalt:

  • 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