Two Letters, Describing A Method Of Increasing The Quantity Of Circulating-Money: Upon A New And Solid Principle - Softcover

Ambrose Weston

Softcover

ISBN 10: 0461334194 ISBN 13: 9780461334197

Publisher: HardPress, 1798

Synopsis

Two Letters, Describing A Method Of Increasing The Quantity Of Circulating-Money: Upon A New And Solid Principle by Ambrose Weston presents a late-18th-century economic proposal to expand the nation’s money supply through a novel form of notes. The work comprises two letters and an introduction that argue for creating a substantial, solid circulating medium by loans of money to be issued against transferred stock and secured by government and Bank assets. The plan envisages stockholders transferring portions of their holdings to the Bank and receiving notes for circulation, which would function like currency and bear interest. The notes would be backed by mortgages and collateral mechanisms to prevent fraud, with profits shared among stockholders, the Bank of England, and the government. Weston discusses implications for commerce, agriculture, and the landed interest, as well as potential effects on interest rates and the national debt. He also addresses objections and outlines safeguards to ensure public security and orderly redemption. The pamphlet reflects the era’s search for innovative means to augment credit and stabilize finances during wartime.

Edition details

• Publisher: HardPress
• Publication date: 1798
• Language: English
• ISBN 10: 0461334194
• ISBN 13: 9780461334197
• Binding: Paperback
• Number of pages: 68