wealbk04-第15节

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place　to　another。　In　consequence　of　those　different　advantages；

it　seems　from　the　beginning　to　have　borne　agio；　and　it　is

generally　believed　that　all　the　money　originally　deposited　in　the

bank　was　allowed　to　remain　there；　nobody　caring　to　demand　payment

of　a　debt　which　he　could　sell　for　a　premium　in　the　market。　By

demanding　payment　of　the　bank；　the　owner　of　a　bank　credit　would

lose　this　premium。　As　a　shilling　fresh　from　the　mint　will　buy　no

more　goods　in　the　market　than　one　of　our　common　worn　shillings；

so　the　good　and　true　money　which　might　be　brought　from　the

coffers　of　the　bank　into　those　of　a　private　person；　being　mixed

and　confounded　with　the　common　currency　of　the　country；　would　be

of　no　more　value　than　that　currency　from　which　it　could　no　longer

be　readily　distinguished。　While　it　remained　in　the　coffers　of　the

bank；　its　superiority　was　known　and　ascertained。　When　it　had　come

into　those　of　a　private　person；　its　superiority　could　not　well　be

ascertained　without　more　trouble　than　perhaps　the　difference　was

worth。　By　being　brought　from　the　coffers　of　the　bank；　besides；　it

lost　all　the　other　advantages　of　bank　money；　its　security；　its

easy　and　safe　transferability；　its　use　in　paying　foreign　bills　of

exchange。　Over　and　above　all　this；　it　could　not　be　brought　from

those　coffers；　as　it　will　appear　by　and　by；　without　previously

paying　for　the　keeping。

　　　　　Those　deposits　of　coin；　or　those　deposits　which　the　bank　was

bound　to　restore　in　coin；　constituted　the　original　capital　of　the

bank；　or　the　whole　value　of　what　was　represented　by　what　is

called　bank　money。　At　present　they　are　supposed　to　constitute　but

a　very　small　part　of　it。　In　order　to　facilitate　the　trade　in

bullion；　the　bank　has　been　for　these　many　years　in　the　practice

of　giving　credit　in　its　books　upon　deposits　of　gold　and　silver

bullion。　This　credit　is　generally　about　five　per　cent　below　the

mint　price　of　such　bullion。　The　bank　grants　at　the　same　time　what

is　called　a　recipe　or　receipt；　entitling　the　person　who　makes　the

deposit；　or　the　bearer；　to　take　out　the　bullion　again　at　any　time

within　six　months；　upon　re…transferring　to　the　bank　a　quantity　of

bank　money　equal　to　that　for　which　credit　had　been　given　in　its

books　when　the　deposit　was　made；　and　upon　paying　one…fourth　per

cent　for　the　keeping；　if　the　deposit　was　in　silver；　and　one…half

per　cent　if　it　was　in　gold；　but　at　the　same　time　declaring　that；

in　default　of　such　payment；　and　upon　the　expiration　of　this　term；

the　deposit　should　belong　to　the　bank　at　the　price　at　which　it

had　been　received；　or　for　which　credit　had　been　given　in　the

transfer　books。　What　is　thus　paid　for　the　keeping　of　the　deposit

may　be　considered　as　a　sort　of　warehouse　rent；　and　why　this

warehouse　rent　should　be　so　much　dearer　for　gold　than　for　silver；

several　different　reasons　have　been　assigned。　The　fineness　of

gold；　it　has　been　said；　is　more　difficult　to　be　ascertained　than

that　of　silver。　Frauds　are　more　easily　practised；　and　occasion　a

greater　loss　in　the　more　precious　metal。　Silver；　besides；　being

the　standard　metal；　the　state；　it　has　been　said；　wishes　to

encourage　more　the　making　of　deposits　of　silver　than　those　of

gold。

　　　　　Deposits　of　bullion　are　most　commonly　made　when　the　price　is

somewhat　lower　than　ordinary；　and　they　are　taken　out　again　when

it　happens　to　rise。　In　Holland　the　market　price　of　bullion　is

generally　above　the　mint　price；　for　the　same　reason　that　it　was

so　in　England　before　the　late　reformation　of　the　gold　coin。　The

difference　is　said　to　be　commonly　from　about　six　to　sixteen

stivers　upon　the　mark；　or　eight　ounces　of　silver　of　eleven　parts

fine　and　one　part　alloy。　The　bank　price；　or　the　credit　which　the

bank　gives　for　deposits　of　such　silver　（when　made　in　foreign

coin；　of　which　the　fineness　is　well　known　and　ascertained；　such

as　Mexico　dollars）；　is　twenty…two　guilders　the　mark；　the　mint

price　is　about　twenty…three　guilders；　and　the　market　price　is

from　twenty…three　guilders　six　to　twenty…three　guilders　sixteen

stivers；　or　from　two　to　three　per　cent　above　the　mint　price。*　The

proportions　between　the　bank　price；　the　mint　price；　and　the

market　price　of　gold　bullion　are　nearly　the　same。　A　person　can

generally　sell　his　receipt　for　the　difference　between　the　mint

price　of　bullion　and　the　market　price。　A　receipt　for　bullion　is

almost　always　worth　something；　and　it　very　seldom　happens；

therefore；　that　anybody　suffers　his　receipt　to　expire；　or　allows

his　bullion　to　fall　to　the　bank　at　the　price　at　which　it　had　been

received；　either　by　not　taking　it　out　before　the　end　of　the　six

months；　or　by　neglecting　to　pay　the　one…fourth　or　one…half　per

cent　in　order　to　obtain　a　new　receipt　for　another　six　months。

This；　however；　though　it　happens　seldom；　is　said　to　happen

sometimes；　and　more　frequently　with　regard　to　gold　than　with

regard　to　silver；　on　account　of　the　higher　warehouse…rent　which

is　paid　for　the　keeping　of　the　more　precious　metal。　　　　*　The

following　are　the　prices　at　which　the　Bank　of　Amsterdam　at

present　（September；　1775）　receives　bullion　and　coin　of　different

kind：…　

　　　　　　　　　　　　　　　SILVER　

　　　　　Mexico　dollars　　　　　　　　　　　Guilders　B…22　per　mark

　　　　　French　crowns　　　　　　　　　　　　Guilders　B…22　per　mark

　　　　　English　silver　coin　　　　　　Guilders　B…22　per　mark

　　　　　Mexico　dollars　new　coin　　　　　　　　　　　　　21　10

　　　　　Ducatoons　　　　　　　　　　　　　　　　　　　　　　　　　　　　3

　　　　　Rix　dollars　　　　　　　　　　　　　　　　　　　　　　　　　　2　8　

　　　　　Bar　silver　containing　eleven…twelfths　fine　silver　21　per

mark；　and　in　this　proportion　down　to　1/4　fine；　on　which　5

guilders　are　given。

　　　　　Fine　bars；　93　per　mark。　

　　　　　　　　　　　　　　　GOLD　

　　　　　Portugal　coin　　　　　　　　　　　　B…310　per　mark

　　　　　Guineas　　　　　　　　　　　　　　　　　　B…310　per　mark

　　　　　Louis　d'ors　new　　　　　　　　　　B…310　per　mark

　　　　　Ditto　old　　　　　　　　　　　　　　　　　　300

　　　　　New　ducats　　　　　　　　　　　　　　　　　4　19　8　per　ducat　

　　　　　Bar　or　ingot　gold　is　received　in　proportion　to　its　fineness

compared　with　the　above　foreign　gold　coin。　Upon　fine　bars　the

bank　gives　340　per　mark。　In　general；　however；　something　more　is

given　upon　coin　of　a　known　fineness；　than　upon　gold　and　silver

bars；　of　which　the　fineness　cannot　be　ascertained　but　by　a

process　of　melting　and　assaying。　

　　　　　The　person　who　by　making　a　deposit　of　bullion　obtains　both　a

bank　credit　and　receipt；　pays　his　bills　of　exchange　as　they

become　due　with　his　bank　credit；　and　either　sells　or　keeps　his

receipt　according　as　he　judges　that　the　price　of　bullion　is

likely　to　rise　or　to　fall。　The　receipt　and　the　bank　credit　seldom

keep　long　together；　and　there　is　no　occasion　that　they　should。

The　person　who　has　a　receipt；　and　who　wants　to　take　out　bullion；

finds　always　plenty　of　bank　credits；　or　bank　money　to　buy　at　the

ordinary　price；　and　the　person　who　has　bank　money；　and　wants　to

take　out　bullion；　finds　receipts　always　in　equal　abundance。

　　　　　The　owners　of　bank　credits；　and　the　holders　of　receipts；

constitute　two　different　sorts　of　creditors　against　the　bank。　The

holder　of　a　receipt　cannot　draw　out　the　bullion　for　which　it　is

granted；　without　reassigning　to　the　bank　a　sum　of　bank　money

equal　to　the　price　at　which　the　bullion　had　been　received。　If　he

has　no　bank　money　of　his　own；　he　must　purchase　it　of　those　who

have　it。　The　owner　of　bank　money　cannot　draw　out　bullion　without

producing　to　the　bank　receipts　for　the　quantity　which　he　wants。

If　he　has　none　of　his　own；　he　must　buy　them　of　those　who　have

them。　The　holder　of　a　receipt；　when　he　purchases　bank　money；

purchases　the　power　of　taking　out　a　quantity　of　bullion；　of　which

the　mint　price　is　five　per　cent　above　the　bank　price。　The　agio　of

five　per　cent　therefore；　which　he　commonly　pays　for　it；　is　paid

not　for　an　imaginary　but　for　a　real　value。　The　owner　of　bank

money；　when　he　purchases　a　receipt；　purchases　the　power　of　taking

out　a　quantity　of　bullion　of　which　the　market　price　is　commonly

from　two　to　three　per　cent　above　the　mint　price。　The　price　which

he　pays　for　it；　therefore；　is　paid　likewise　for　a　real　value。　The

price　of　the　receipt；　and　the　price　of　the　bank　money；　compound

or　make　up　between　them　the　full　value　or　price　of　the　bullion。

　　　　　Upon　deposits　of　the　coin　current　in　the　country；　the　bank

grants　receipts　likewise　as　well　as　bank　credits；　but　those

receipts　are　frequently　of　no　value；　and　will　bring　no　price　in

the　market。　Upon　ducatoons；　for　example；　which　in　the　currency

pass　for　three　guilders　three　stivers　each；　the　bank　gives　a

credit　of　three　guilders　only；　or　five　per　cent　below　their

current　value。　It　grants　a　receipt　likewise　entitling　the　bearer

to　take　out　the　number　of　ducatoons　deposited　at　any　time　within

six　months；　upon　paying　one…fourth　per　cent　for　the　keeping。　This

receipt　will　frequently　bring　no　price　in　the　market。　Three

guilders　bank　money　generally　sell　in　the　market　for　three

guilders　three　stivers；　the　full　value　of　the　ducatoons；　if　they

were　taken　out　of　the　bank；　and　before　they　can　be　taken　out；

one…fourth　per　cent　must　be　paid　for　the　keeping；　which　would　be

mere　loss　to　the　holder　of　the　receipt。　If　the　agio　of　the　bank；

however；　should　at