APPENDIX.
No.
I.
Paper communicated by Mr. Peimington.
Mr. Tooke took place
shown
lias
in
the value
the
that
of
which
fluctuations
the currency,
beyond
the
degree indicated by the difference between paper and
during
gold,
the
and
suspension,
those
which have
occurred since the resumption of cash payments, were
power of
circumstances which
of
the result
the
Bank of England
it
was not
to control
in
the
or regulate.
In describing the effect of those circumstances upon that portion of the currency which
Bank
of England,
argument and
to
credit,
show are
it
was
is
not dispensed by the
sufficient for the jourpose of his
that country
bank
susceptible of
notes, private paper,
considerable increase or
diminution, without a corresponding enlargement or contraction of the basis on which they rest.
appear to have thought ticular
mode
stituted
in
which
it is
He
does not
necessary to describe each par-
credit, in
for currency,
showing that
it
its
various forms,
is
sub-
but has contented himself with
much more
extensively employed at one
period than at another.
There with the
is,
however, one modification of credit connected
private banking establishments of London, of