THEORY AND PRACTICE

OF

BANKING

THE

THEORY AND PRACTICE

OF

BANKING

BY

HENRY DUNNING MACLEOD, M.A.

OF TRINITY COLLEGE, CAMBRIDGE, AND THE INNER TEMPLE, BARRISTER-AT-LAW;
SELECTED BY THE ROYAL COMMISSIONERS FOR THE DIGEST OF THE LAW TO PREPARE
THE DIGEST OF THE LAW OF BILLS OF EXCHANGE, BANK NOTES, ETC.

HONORARY MEMBER OF THE JURIDICAL SOCIETY OF PALERMO

BODLEIAN LIBRA

1CJUL 86
OXFORD

LONDON:

PRINTED BY A. P. BLUNDELL & Co.,

26, GARLICK HILL, CANNON STREET, E.C.

PAY-

TO THE ACT FOR THE RESUMPTION OF CASH

MENTS IN 1819

2. Opinions held in 1696, respecting the depreciation of paper 2

3. Opinion of Adam Smith respecting the market price of

Bullion.

3

3

3

4. After the restriction prices estimated in Bank paper

5. Sudden rise in the market price of Gold in 1801

6. Discovery of the truth that a rise in the market price of gold

Bullion was a proof of the depreciation of the paper cur-

rency

7. This discovery due to Mr. Boyd, Lord King, and Mr. Thorn-

ton

4

4
4

9.

Mr. Fox first declares the cause of the adverse exchange in
the House of Commons

8. Peace of Amiens-continuation of the restriction

10. Declaration of War in 1803-Lord King's principles of a

78

8

11. The issues of country banks based upon Bank paper

12. Par of Exchange between England and Ireland

13. The Bank of Ireland directed to suspend payments in cash 9

14. Extraordinary depression of the Exchange between London

and Dublin

15. Appointment of a Committee to inquire into the state of the

Irish Currency

.

9

16. First investigation into the theory of the paper currency by

Parliament

10

17. Opinions of the Directors of the Bank of Ireland

10