[FONT=Times New Roman]by requiring[/FONT][FONT=宋体][/FONT]
[FONT=Times New Roman]Shall we try to mend it, by requiring, under the pretext of saving him from the effects of a panic, that he shall give securities for all his issues of small notes ? In the first place, no wise man is likely to purchase so dubious a benefit at such a price: Secondly, it would not save him from a gradual demand [/FONT][FONT=Times New Roman]Tory Burch Flats[/FONT][FONT=Times New Roman] [/FONT][FONT=Times New Roman]for gold which must ensue, if gold for any cause be in permanent request: and Thirdly, it would give an unfair preference to the holders of those notes, which would justly expose him to sudden demands, of far greater amount, whenever his larger creditors should think their property endangered by remaining any longer in his hands, It would be a singular way of protecting a banker, to save him from the smallest demands, and by that means render him the more obnoxious to those of the highest kind.The third species of control, then, is the only one left to protect the country against the possible abuses of the banking system : and that is, to require that all banks of issue shall be joint stock company banks, whose affairs shall be administered on so public a principle, that the community shall be acquainted with the real condition of the concern. To such a company might be entrusted the power of taking up their notes in gold at the market price if it should ever happen that such a measure became needful; but in no case could they have occasion to exercise this [/FONT][FONT=Times New Roman]Tory Burch Outlet[/FONT][FONT=Times New Roman] [/FONT][FONT=Times New Roman]power, except it were on one of those sudden demands for gold being made, which arise when nations are on the ev of war, or when a gradual advance has Essay on Money, p. The legislature having ascertained that the business of a place, which is seeking a new bank, will be materially aided by its establishment, and that there is unemployed capital sufficient for a bank, it should then incorporate in its charter such provisions as are likely to secure its safe and beneficial administration.As an over-issue of paper is one of the greatest mischiefs of banks, and one to which they are most strongly tempted by the desire of increasing their profits, it would seem wise to impose a limit upon their issues, which should not, under any circumstances, be transcended.[/FONT][FONT=Times New Roman][/FONT]