Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
Miscellaneous Observations And Reflections Made In A Tour Through London,
THE BANK . If King William had performed but one action in his whole life * that action was sufficient to immortalize his name , instituting the Bank . The company , sensible of the unparalleled merit of this act , erected a statue to his honour in one of the courts . No domestic regulation , no treaty with foreign States , has been so beneficial to trade the Bank
as . The building is odd , low , and regular , but well adapted to the design . It is an edifice which appears better to the eye delineated upon paper , than upon the ground where it stands . This vivifying body , replete with shining particles , like that in the heavens , nourishes the commercial world . Rays of brig ht influence , collected info this pointare diffused through eveiy latitude . Prn'ate
, banks , dispersed through the British vortex , like the lesser orbs , shine with borrowed lig ht from this grand luminary . _ Public credit , when . shaken by political violence , as m 1 745 , has been restored by the Bank to its basis . Ignorant of etiquette , I entered this depository of riches , as I had done those at St . James ' s , much inclined to proceed from one apartin which
ment to another , except some person should interrupt me ; case I should have made the best apology I was able . An apology will generally pass , where , no injury is intended . Every man . would be deemed honest . By the precautions at the Bank , one should be inclined to think every . man a rogue . Perhaps there is not an institution conducted with more wisdom . when the and the cash of
The time is not very remote , commerce the kingdom were equal , except what little was transacted by barter . These two pillars of the state must ever answer each other , or some remedy must be found to cure the evil . Four hundred years has made an amazing alteration in both . The cash in currency has increased to tvventy times its quantity and commerce to that number
; multiplied by itself . A want of cash was the consequence -, but that want is supplied by bills of exchange . Artificial cash makes up the real As we cannot erect our commercial ' fabric upon bullion , we make up the defect with paper . The most substantial is that of the
Bank ... ¦ ' ,, , '_ . . ... . Their paper alone is taken without objection . I heir credit is sterling . ' . / - , - , The money-changers who resort to this temple are ot two Kinds , those who want , and those who abound . . ' * ., ' The influence of the Bank is not limited to trade . One of their notes which is value without weight , in the hands of a lover , would his mistresswould roll the gilt chariot
soften the obdurate heart of ; , and furnish six . footmen in livery ; preserve a grove from the axe , whose master was duped by the sharper ; purchase what one lady wishes to keep , and keep another from the town ; make one man forget his friends , and another himself . . It will purchase a good benefice , and spoil a good preacher ; remove our present wants , ancl open a way to greater . It will not , however , as Solomon says ol
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
Miscellaneous Observations And Reflections Made In A Tour Through London,
THE BANK . If King William had performed but one action in his whole life * that action was sufficient to immortalize his name , instituting the Bank . The company , sensible of the unparalleled merit of this act , erected a statue to his honour in one of the courts . No domestic regulation , no treaty with foreign States , has been so beneficial to trade the Bank
as . The building is odd , low , and regular , but well adapted to the design . It is an edifice which appears better to the eye delineated upon paper , than upon the ground where it stands . This vivifying body , replete with shining particles , like that in the heavens , nourishes the commercial world . Rays of brig ht influence , collected info this pointare diffused through eveiy latitude . Prn'ate
, banks , dispersed through the British vortex , like the lesser orbs , shine with borrowed lig ht from this grand luminary . _ Public credit , when . shaken by political violence , as m 1 745 , has been restored by the Bank to its basis . Ignorant of etiquette , I entered this depository of riches , as I had done those at St . James ' s , much inclined to proceed from one apartin which
ment to another , except some person should interrupt me ; case I should have made the best apology I was able . An apology will generally pass , where , no injury is intended . Every man . would be deemed honest . By the precautions at the Bank , one should be inclined to think every . man a rogue . Perhaps there is not an institution conducted with more wisdom . when the and the cash of
The time is not very remote , commerce the kingdom were equal , except what little was transacted by barter . These two pillars of the state must ever answer each other , or some remedy must be found to cure the evil . Four hundred years has made an amazing alteration in both . The cash in currency has increased to tvventy times its quantity and commerce to that number
; multiplied by itself . A want of cash was the consequence -, but that want is supplied by bills of exchange . Artificial cash makes up the real As we cannot erect our commercial ' fabric upon bullion , we make up the defect with paper . The most substantial is that of the
Bank ... ¦ ' ,, , '_ . . ... . Their paper alone is taken without objection . I heir credit is sterling . ' . / - , - , The money-changers who resort to this temple are ot two Kinds , those who want , and those who abound . . ' * ., ' The influence of the Bank is not limited to trade . One of their notes which is value without weight , in the hands of a lover , would his mistresswould roll the gilt chariot
soften the obdurate heart of ; , and furnish six . footmen in livery ; preserve a grove from the axe , whose master was duped by the sharper ; purchase what one lady wishes to keep , and keep another from the town ; make one man forget his friends , and another himself . . It will purchase a good benefice , and spoil a good preacher ; remove our present wants , ancl open a way to greater . It will not , however , as Solomon says ol