The Bank Charter Act (n.) worked splendidly for the Bank's proprietors — their dividend rose from 7 to 9 per cent, tax paid — while the country sold its goods at forced-sale prices to win back gold.
The Bank Charter Act (n.) when suspended gives permission to create an unlimited amount of fictitious paper capital and lend it to the world of commerce.
The Bank Charter Act (n.) was Overstone's: he preached that lender and industrialist share one interest, while his Act was calculated to exploit their difference for the benefit of money capital.
The Bank Charter Act (n.) compels the Bank to contract its notes at the very moment the whole world is crying out for them.
The Bank Charter Act (n.) turned Ricardo's wrong theoretical assumption into a practical experiment on the largest national scale — and an ignominious fiasco.
The Bank Charter Act (n.) provokes the whole world of commerce to meet a crisis by hoarding banknotes — so instead of abolishing crises it intensifies them until either industry collapses or the Act does.
The Bank Charter Act (n.) was designed, whatever its theory, to make money dear.