The Principles And Practical Operation Of Sir Robert Peel's Bill Of 1844

The book ""The Principles And Practical Operation Of Sir Robert Peel�������s Bill Of 1844: Explained And Defended"" by Robert Torrens was published in 1857. It is a comprehensive analysis of the Bank Charter Act of 1844, also known as Peel's Act, which was introduced by Sir Robert Peel, the Prime Minister of the United Kingdom at the time. The Act aimed to regulate the issuing of banknotes by the Bank of England and other commercial banks, and to stabilize the currency by controlling the amount of money in circulation.The book is divided into two parts. The first part provides an overview of the historical context and the economic conditions that led to the introduction of the Bank Charter Act. It also explains the principles behind the Act, including the concept of a fixed quantity of currency, the distinction between currency and credit, and the role of the Bank of England as the central bank.The second part of the book focuses on the practical operation of the Act, including the process of issuing banknotes, the regulation of the reserve ratio, and the impact of the Act on the banking system and the economy. Torrens argues that the Act was successful in achieving its objectives, and defends it against criticisms from contemporary economists.Overall, ""The Principles And Practical Operation Of Sir Robert Peel�������s Bill Of 1844: Explained And Defended"" is a valuable resource for anyone interested in the history of monetary policy and the development of central banking in the United Kingdom.With Additional Chapters On Money, The Gold Discoveries, And International Exchange, And A Critical Examination Of The Chapter On The Regulation Of A Convertible Paper Currency In J. S. Mill�������s Principles Of Political Economy.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.