July 13. 1867. N. 371.

Aus:
The Money Market Review, 13. Juli 1867. S. 31/32.
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 Titel von Marx notiert in „Heft 3. 1868“ der „Hefte zur Agrikultur“ (MEGA² IV/18. S. 728.13–14) und einem Exzerptheft 1878 (IISG, Marx-Engels-Nachlass, Sign. B 148).
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„The Financial Lessons of 1866.“ A letter addressed (by permission) to the R. H. E. W. W. E. Gladstone. By a City Manager. London 1867. (Smith, Elder, and Co. Cornhill)

He denounces certain corrupt practices which seem to have prevailed for some time past between the promoters and directors of Joint Stock schemes, and the managers of the Joint Stock Banks and financial associations of this City. He avows: the key to so much bad business having been done in the way of joint-stock-Cos. is to be found in the fact that „it has been made the interest of those to whom was confided the management of other people’s money (i.e. the bankers of the City) to do the bad business“. He says, „he is not making a hasty, vague, and indefinite charge which can only be true in a few exceptional cases“; he vouches for it as a fact within his own personal knowledge and experience that this charge is true in the vast majority of cases. „The giving of bribes“, he says, „to the chairman, deputy-chairman, manager, secretary, confidential legal adviser, or whoever the important man or men may be, in the conduct of the business of the bank from which the money is to be borrowed for a Co. already in existence, or to be introduced to the public, is a regular, established usage and custom in the City of London.“ The cases in which this charge not true constitute »a most insignificant minority«. So general have these corrupt and scandalous practices become, that they seem to be regarded as legitimate by men of ordinary commercial repute, und diese bribes selbst made for legitimate business.  Zusatz von Marx.
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Die Money Market Review remarks dazu:
 |267 [»]The honest man who refuses such overtures is in many respects at a great disadvantage as compared with the man who accepts them; for, while the former remains poor, and has no financial power, the other acquires financial power and strength, which he uses occasionally for the apparent benefit of his Co., and by which he also earns the repute of talent and success, and, consequently, the increasing confidence of his shareholders – until the bubble bursts.«

Aus:
The Money Market Review, 13. Juli 1867. S. 38.
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Barned’s Bank. (lim.)

9 July the Master of the Rolls said „this Co. (Barned’s) was got up in June, 1865, in promoting which the Corporation Co. was very active. It was puffed in various ways, and great efforts were made by the Corporation Co. and its friends to raise it in the estimation of the world. They encouraged others to join the concern, and now, when the winding up came, they turned round etc.[“]



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