Draft of a report titled 'Bankers Money & Notes', 18 March1805 (Series 84.10) - No. 0001

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Transcription

[Page 1]

March 18 1805

Bankers Money & Notes

 

Lord Liverpool tells me on the Authority of Sutton the Banker that there are now in England & Scotland 517 Country Bankers connected with London money whose issue on an average is taken at 30,00 Each 15,510,000
he says that 7 years ago only 250 Country Bankers issued notes that each Country Banker yields to his London Corresponders an average £500 a year  
Ld Liverpool Estimates the gold coin current in Great Britain at 30,000,000
The Bank of England notes now in circulation at   7,000,000
Making a grand Total of the medium in Paper & in money gold now circulating in Great Britain of 62,510,000
To which add the Present depreciated Silver Currency taken at   3,000,000
  65,000,000

in 1797 when the Bank was Compelld to Stop Payment in Cash, this Calamity was causd by the failure of Country bankers in the north which happend at one period to be pretty general there were then no more than about 250 in Great Britain how then Can the Bank Ever pay in Cash again

as long as the Bank does not pay in Cash the number of Country Bankers must be always on the increase fines they Cannot be Calld upon by their Customers to pay in Cash they Cannot be destressd as they have always been when a moment of suspicion has arisen.    

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